Office of Audit, Risk and Compliance
Winston-Salem State University’s Office of Audit, Risk and Compliance will provide value added services across the entire institution. As a service provider within Winston-Salem State University, we consider first the needs of our stakeholders. With this approach, we foster open and collaborative relationships, risk-focused engagement and opportunities to identify improvements to crucial governance, financial and operational processes and procedures. We have ensured that communication with our stakeholders and staff development support our mission to advance and integrate risk awareness, internal controls and compliance requirements as well as to collaborate on proactive and innovative improvements to business processes through high-quality assurance and advisory services.
The Office of Audit, Risk and Compliance's mission is to enhance and protect organizational value by providing risk-based and objective assurance, advice and insight in the following service areas:
Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish it objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes.
Enterprise Risk Management
To help ensure key business risks are being managed appropriately and that the system of internal control is operating effectively, the Enterprise Risk Management division of the Office of Audit, Risk and Compliance includes oversight and monitoring of the university’s enterprise risk management function. More specifically, the function has been designed to facilitate and champion the establishment of a University-wide risk management program that aligns with the University’s management systems and processes and supports the University’s goals.
The goal of the Institutional Compliance division of the Office of Audit, Risk and Compliance is to enhance compliance primarily through the actions of a decentralized framework of University offices and officers. The responsibilities include developing risk-based compliance assessments; assisting in the building of compliance consciousness in significant business processes, assisting the administration, faculty, and staff in identifying and reducing compliance risks that could adversely affect the University.