ESP
CHARTER
INTERNAL AUDITING DEPARTMENT

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ESP
CHARTER
INTERNAL AUDITING DEPARTMENT
INTRODUCTION:
Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve ESP operations. It helps ESP to accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.

ROLE:
The Internal Auditing Department is established by ESP’s governing body and the purpose, authority, and responsibility of the internal audit activity are defined in an internal audit charter, consistent with the Definition of Internal Auditing, the Code of Ethics, and the Standards. The chief audit executive must periodically review the internal audit charter and present it to ESP’s senior management and the governing body for approval.

PROFESSIONAL STANDARDS:
The Internal Auditing Staff shall govern themselves by adherence to the Institute of Internal Auditor’s “Code of Ethics.” The Institute’s “Standards for the Professional Practice of Internal Auditing” shall constitute the operating procedures for the department. These two documents constitute an addendum to their charter. The Institute of Internal Auditor’s “Practice Advisories” will be adhered to as applicable. In addition, Internal Auditing will adhere to ESP policies and procedures and Internal Auditing’s Standard Operating Procedures Manual. If inconsistencies exist between the Standards and ESP policies, internal auditors and the internal audit activity must conform with the Standards, and may conform with the ESP policy if they are more restrictive. The Standard Operating Procedures Manual shall include attribute, performance, and implementation standards to guide the Department.

AUTHORITY:
Authority is granted for full, free, and unrestricted access to