What We Do
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.