Office of Audit and Advisory Services
The Office of Audit and Advisory Services supports Stevens Institute of Technology in enhancing and protecting the University by optimizing its governance, risk management and control processes through the provision of risk based and objective assurance, counsel, and insight.
The Office of Audit and Advisory Services is to identify the responsibility and authority of Stevens’ Audit and Advisory Services function.
Scope of Work
Audit is an independent and objective assurance and consulting activity guided by a philosophy of enhancing Stevens Institute of Technology's operations to support its pursuit of excellence in education research and service. The scope of Audit's work is to determine whether Stevens' network of risk management, internal controls, compliance activities and governance processes, as designed and represented by management, is adequate and functioning in a manner to ensure:
Operational objectives, programs and plans are achieved
Risks are appropriately identified and managed
Financial, managerial and operating information is accurate, reliable and timely
Resources/assets are acquired economically, used efficiently and adequately protected
Quality and continuous improvement are fostered in Stevens' control processes
In order to achieve its mission, the Office of Audit and Advisory Services is authorized full and unrestricted access to any and all of Stevens' records, physical properties, systems, and personnel necessary in achieving its goals. Audit members are accountable for safeguarding records and information they use in performing their work.
The Audit Director will report functionally to the Committee and administratively to the Chief Financial Officer.