Student Forums CIA Part 1: Essentials of Internal Auditing Section I: Foundations of Internal Auditing Is an Internal Audit Charter required even when an Internal Audit is outsourced

Is an Internal Audit Charter required even when an Internal Audit is outsourced

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    This forum is restricted to members of the associated course(s).

    Richard Chung
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    Does the organisation need to set up a internal audit charter when it has outsourced fully its internal audit function to a professional firm performing its internal audit services. 

     

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  • #226824

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    Brian Hock
    HOCK international

    Hello, Richard Chung,

    If the company does not have their own internal audit function, they will not need to have the same Charter that is needed if they have their own IAA. However, they would probably need to have some sort of internal policy that helps the outsourcing company have the authority to do the work that they need to do. Something to make the employees in the company understand what is happening and why. But, this would be much more along the lines of internal policies and communications regarding the external auditor. 

    Brian

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