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Internal Audit Charter

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Purpose and Mission

To provide independent assurance and advisory to increase internal controls' efficiency and effectiveness.

Scope of Internal Audit 

  1.  Prepare annual internal audit plan for management endorsement and Audit Committee's approval.
  2.  Perform internal audits from approved Internal Audit Plan.
  3.  Conduct operational, financial, compliance and special audits. 
  4.  Assess HKUST's risk management process to ensure it remains fit-for-purpose.
  5.  Follow up on management's corrective actions and report to the Audit Committee periodically.
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Independence and Objectivity

  • Carry out audits in an unbiased manner.
  • Has no direct operational responsibility or authority over any of the audited activities.
  • Does not implement internal controls, develop procedures, install systems, prepare records, or engage in any other activities that may impair the auditor’s independence and objectivities.



  • Have full, free, and unrestricted access to all functions, records, property and personnel pertinent to carrying out the audits or reviews (subjected to confidentiality and safeguarding of records and information).
  • Obtain assistance from HKUST's personnel and other specialized services from within or outside HKUST wherever applicable to complete the audits or reviews.