Audit Charter
What is Audit Charter?
A formal document that defines the audit function's purpose, authority, responsibility, and position within an organization's governance structure.
Frameworks that govern audit charter
What the standards actually require on audit charter
Requirements naming audit charter across this standard, quoted from the control text.
Internal audit (the unit fulfilling the role in 12 CFR part 30, Appendix A, II.B) stays independent of front line units and independent risk management because the Chief Audit Executive (one level below the CEO) has unrestricted access to the audit committee;
occ-heightened-standards-12-cfr-part-30-appendix-d::I.E.8 · I.E.8 Independence structure of internal audit →Questions people ask about audit charter
What is Audit Charter?
A formal document that defines the audit function's purpose, authority, responsibility, and position within an organization's governance structure.
Why is Audit Charter important for compliance?
Audit Charter is a key concept in Audit and Assurance. Understanding audit charter helps organizations meet regulatory requirements, reduce risk, and demonstrate due diligence during audits. Our compliance platform maps 1,016 frameworks with 316K cross-framework control mappings.
Which compliance frameworks address Audit Charter?
Audit Charter appears in the requirement text of OCC Heightened Standards (12 CFR Part 30, Appendix D). Across these standards we have identified 1 control that names it directly, each linked to the control text on the compliance platform.
Where can I learn more about Audit Charter?
Explore our compliance framework pages to see how audit charter applies across different standards and regulations. Our implementation guides provide step-by-step guidance, and the compliance platform offers AI-powered analysis of how this concept maps across 1,016 frameworks.
See how Audit Charter applies across compliance frameworks
Our platform maps 1,016 frameworks with 316K cross-framework control mappings. Explore how this concept is addressed across standards.
Written and maintained by Gerard Blokdyk, The Art of Service.