Charter_Case_Solution (Cosler Ltd) - Charter Case Suggested Solution Colser Ltd Answers should be in the form of a document identifying the reasons why

Charter_Case_Solution (Cosler Ltd) - Charter Case Suggested...

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Charter Case Suggested Solution Colser Ltd. Answers should be in the form of a document identifying the reasons why it is important to establish a mandate or charter for the internal audit function and the major elements that this mandate should include. MEMORANDUM DATE: October 10, 20X1 TO: William Chong, President FROM: Chief Audit Executive RE: Internal Audit Mandate As requested, I have prepared the following outline identifying the importance of an internal audit mandate and the major components it should include. Please review this so that we can discuss the issues prior to circulating to the audit committee. a. Reasons for the establishment of a mandate: to define and communicate the role, responsibilities, and authority of the internal audit function within the organization to demonstrate the importance of and the support of top management to the internal audit function to all members of the organization

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