According to IIA guidance, an internal audit charter should detail the responsibilities of the audit committee.
The charter is a formal document that defines the purpose, authority, and responsibility of the internal audit activity. Including the audit committee's responsibilities ensures clarity on the committee's role in overseeing the internal audit function, enhancing governance, and providing a framework for accountability and support.
References:
* The IIA Standards: Standard 1000 - Purpose, Authority, and Responsibility: "The purpose, authority, and responsibility of the internal audit activity must be formally defined in an internal audit charter, consistent with the Definition of Internal Auditing, the Code of Ethics, and the Standards."
* IIA Practice Guide: "Internal Audit Charter: Understanding the Components": Highlights the importance of specifying the audit committee's responsibilities in the charter.