I NTERNAL A UDIT C HARTER

To provide for the independence of the Internal Audit function, the Chief Audit Executive reports functionally to the Finance and Audit Committee and administratively to the President of IDRC for internal audit activity. [...] Responsibilities of the President include the following: • Support the Internal Audit function in carrying out its responsibilities; 2 INTERNATIONAL DEVELOPMENT RESEARCH CENTRE INTERNAL AUDIT CHARTER • Review the performance of the Internal Audit function; and, • Assess the performance and recommend the appointment, reassignment, or dismissal of the Chief Audit Executive to the Finance and Audit C. [...] The QAIP includes the following activities: o Internal assessments - The results of the QAIP internal assessments are reported annually to the Finance and Audit Committee and include a self-assessment against established performance indicators and a statement on the Internal Audit function’s conformance with the Professional Standards. [...] • Observing, and annually confirming conformance to the Finance and Audit Committee with, the Code of Ethics of the Institute of Internal Auditors and applying and upholding the principles of integrity, objectivity, confidentiality, and competency, and IDRC’s Code of Conduct and the Values and Ethics Code for the Public Sector; • Confirming annually to the Finance and Audit Committee the organizat. [...] In the scope of this work, the Chief Audit Executive will communicate to management and the Finance and Audit Committee opportunities for improving controls, risk management and governance processes identified in the course of the audit and advisory engagements.