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Audit Charter

Audit Charter

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  • 1. S1 Audit CharterIntroduction01 ISACA Standards contain basic principles andessential procedures, identified in boldtype, that are mandatory, together with relatedguidance. Slides Prepared By Raju S Narayanan who can be contacted by sending a mail to rajusnarayanan@financialconsultantindelhi.
  • 2. S1 Audit Charter….02 The purpose of this IS Auditing Standard is toestablish and provide guidance regarding theAudit Charter used during the audit process. Slides Prepared By Raju S Narayanan who can be contacted by sending a mail to rajusnarayanan@financialconsultantindelhi.
  • 3. S1 Audit Charter….Standard03 The purpose, responsibility, authority andaccountability of the information systems auditfunction or information systems auditassignments should be appropriatelydocumented in an audit charter or engagementletter. Slides Prepared By Raju S Narayanan who can be contacted by sending a mail to rajusnarayanan@financialconsultantindelhi.
  • 4. S1 Audit Charter….04 The audit charter or engagement lettershould be agreed and approved at anappropriate level within the organisation(s). Slides Prepared By Raju S Narayanan who can be contacted by sending a mail to rajusnarayanan@financialconsultantindelhi.
  • 5. S1 Audit Charter….Commentary05 For an internal information systems audit function, anaudit charter should be prepared for ongoing activities.The audit charter should be subject to an annual reviewor more often if the responsibilities are varied orchanged. An engagement letter may be used by theinternal IS auditor to further clarify or confirminvolvement in specific audit or non-audit assignments.For an external IS audit, an engagement letter should benormally prepared for each audit or non-auditassignment. Slides Prepared By Raju S Narayanan who can be contacted by sending a mail to rajusnarayanan@financialconsultantindelhi.
  • 6. S1 Audit Charter….06 The audit charter or engagement lettershould be detailed enough to communicate thepurpose, responsibility and limitations of theaudit function or audit assignment. Slides Prepared By Raju S Narayanan who can be contacted by sending a mail to rajusnarayanan@financialconsultantindelhi.
  • 7. S1 Audit Charter….07 The audit charter or engagement lettershould be reviewed periodically to ensure thepurpose and responsibility have beendocumented. Slides Prepared By Raju S Narayanan who can be contacted by sending a mail to rajusnarayanan@financialconsultantindelhi.
  • 8. S1 Audit Charter….08 The following guidance should be referred tofor further information on the preparation of anaudit charter or an engagement letter:. IS Auditing Guideline G5 Audit Charter. COBIT Framework, Control objective M4 Slides Prepared By Raju S Narayanan who can be contacted by sending a mail to rajusnarayanan@financialconsultantindelhi.
  • 9. S1 Audit Charter….Operative Date09 This ISACA Standard is effective for allinformation systems audits beginning on or after1 January 2005. Slides Prepared By Raju S Narayanan who can be contacted by sending a mail to rajusnarayanan@financialconsultantindelhi.