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MISSION & CHARTER MISSION
The Office for Audit and Advisory Services is dedicated to improving university operations
by providing independent, objective assurance and consulting services
with respect to evaluating risk management, control, and governance
processes. By monitoring areas of potential vulnerability and pursuing
preventive measures, the department assists all members of the university
community to comply with policies and procedures and uphold the
highest standards of business conduct.
CHARTER Role
The Office for Audit and Advisory Services serves as an independent and objective
resource to examine and evaluate University activities as a service
to the Board of Trustees and management of Northwestern University.
Responsibility
The Office for Audit and Advisory Services is responsible for conducting internal
audits and evaluating the University's risk management, control,
and governance processes. The audits include assessments of the
reliability of departmental financial information, compliance with
University policies and procedures, compliance with laws and regulations,
safeguarding assets, and the effectiveness and efficiency of operations.
In addition, Office for Audit and Advisory Services may provide consulting services
related to internal controls, special investigations, and other
areas of interest and concern.
Independence
The Office for Audit and Advisory Services has no direct operating responsibility
or authority for management processes, internal controls, and any
of the activities or operations they review; thereby, maintaining
a spirit of independence and objectivity.
Reporting Relationship and Authority
The Office for Audit and Advisory Services has a direct reporting relationship to
the Audit Committee of the Board of Trustees, the President, and
the Senior Vice President for Business and Finance. The Chief Audit
Executive administratively reports to the Senior Vice President
for Business and Finance. The Office for Audit and Advisory
Services
is authorized by
the Board of Trustees and senior management to perform audits approved
by the Audit Committee and to engage in other independent reviews
and consulting activities as required in support of its mission.
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