What is the primary purpose of an audit charter?

Describe the authority and responsibilities of the audit department.

The audit charter typically sets out the role and responsibility of the internal audit department. It should state managements objectives for and delegation of authority to the audit department. It is rarely changed and does not contain the audit plan or audit process, which is usually part of annual audit planning, nor does it describe a code of professional conduct, since such conduct is set by the profession and not by management.