Internal Audit Charter Subsidiary Final

kpmg SBP Banking Services Corporation Internal Audit Charter This document contains 7 pages Internal Audit Charter (Subsidiary) Final kpmg SBP Banking Services Corporation Internal Audit Charter Contents 1 INTRODUCTION 1 2 MISSION STATEMENT 1 3 AUTHORITY 2 4 RESPONSIBILITY 3 5 ACCOUNTABILITY 4 6 INDEPENDENCE 4 7 CONTINUITY AND IMPARTIALITY 5 Internal Audit Charter (Subsidiary) Final kpmg SBP Banking Services Corporation Internal Audit Charter 1 INTRODUCTION This charter primarily aims to define and establish: ?? The formal mission statement of audit department of SBP Banking Services Corporation (SBSC). ?? The objectives and scope of audit department. ?? The audit department’s position within SBSC, its access to various records, departments and activities, its responsibility and accountability. 2 MISSION STATEMENT To provide independent appraisal of all the activities of SBSC aiming to add value, improve operational efficiency, risk management and internal control systems. The prime objective of audit department is to examine and evaluate whether the SBSC’s frame work of risk management, control, and governance processes, is adequate and functioning properly. In addition, the objectives of audit department include advising and recommending senior management for improvements in internal control and risk management systems. In order to fulfil its mission statement and objectives, audit department’s scope of work ...