The chief audit executive (CAE) is responsible for assuring that all required components are included in the internal audit charter. The CAE must ensure that the charter clearly defines the purpose, authority, and responsibility of the internal audit activity, and that it aligns with the standards set by the Institute of Internal Auditors (IIA). The CAE is also responsible for presenting the charter to senior management and the board for approval.
References:
* The IIA Standards: Standard 1000 - Purpose, Authority, and Responsibility: "The chief audit executive must periodically review the internal audit charter and present it to senior management and the board for approval."
* IIA Practice Guide: "Internal Audit Charter: Understanding the Components": Emphasizes the CAE's responsibility in developing and maintaining the charter.