Institutional Compliance, Internal Audit, and Enterprise Risk Management

Office of Institutional Compliance

The University of Chicago is committed to maintaining a culture of responsibility in which its community members conduct themselves in accordance with the highest standards. As part of this commitment, the University seeks to maintain an effective compliance program in which University community members are aware of, understand and comply with applicable laws, rules, regulations, policies, and procedures, including University policies and procedures. To promote excellence in, and otherwise support, University compliance efforts the University has established an Office of Compliance and also has convened a Compliance Committee consisting of senior University leaders. 

The overall mission of the Office of Compliance is to promote an organizational culture and support a formal compliance program that encourages ethical conduct, a commitment to compliance with the law and University policies, and accountability for these obligations in furtherance of the University’s values and pursuit of eminence.

To ask questions, raise concerns, or seek assistance with respect to specific compliance areas: A Collective Responsibility for Excellence.

Office of Internal Audit

The purpose of the Internal Audit function at the University is to provide the Board of Trustees and senior University administration with an independent assessment of the University’s system of internal controls. 

Internal Audit examines and evaluates the controls in place to safeguard University assets, evaluates the effective use of resources, reviews compliance with policies, procedures, laws and regulations to protect the research and teaching mission of the University.

The University of Chicago’s Internal Audit Charter governs the activities of the University’s Internal Audit function.

Enterprise Risk Management

The Enterprise Risk Management program is informed by Compliance and Internal Audit efforts, and creates a uniform process for evaluating the key risk areas identified in the Internal Auditor’s triennial risk assessment. The output of this program is presented to the Board of Trustees Audit Committee, and informs discussions with the Committee, as well as the internal audit plan.