{"id":204,"date":"2025-11-24T16:16:26","date_gmt":"2025-11-24T16:16:26","guid":{"rendered":"https:\/\/new.dev.www.purdue.edu\/ia\/erm\/?page_id=204"},"modified":"2026-02-17T17:21:34","modified_gmt":"2026-02-17T17:21:34","slug":"frequently-asked-questions","status":"publish","type":"page","link":"https:\/\/www.purdue.edu\/ia\/erm\/frequently-asked-questions\/","title":{"rendered":"Frequently Asked Questions"},"content":{"rendered":"<div  class=\"purdue-home-cta-banner purdue-home-teritary-hero \">\n        <div class=\"section has-black-background has-padding-top-large has-padding-bottom-large \">\n        <div class=\"container\">\n            <h1 class=\"second-level-page-heading purdue-home-teritary-hero__header\">Frequently asked questions<\/h1>\n            <div class=\"purdue-home-teritary-hero__content\">\n                \n\n<p><\/p>\n\n            <\/div>\n                    <\/div>\n    <\/div>\n<\/div>\n\n\n<div  class=\"section \">\n    <div class=\"container\">\n                \n\n<div class=\"wp-block-columns page-layout-columns columns is-multiline is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column column is-one-quarter-desktop is-full-tablet is-full-mobile page-layout-sidebar is-layout-flow wp-block-column-is-layout-flow\">\n<p><\/p>\n<\/div>\n<\/div>\n\n    <\/div>\n<\/div>\n\n\n<div class=\"purdue-accordion-wrap  purdue-accordion-wrap--small\">\n    <div class=\"section has-none-background has-padding-top-none has-padding-bottom-none\">\n        <div class=\"container\">\n            <div class=\"purdue-accordion has-no-bottomborder\">\n                <h4 class=\"accordion__heading purdue-accordion__title  purdue-accordion__title--small\" id=\"title-973e7bc8-b1aa-49ff-9304-01fdca8fea23\">\n                    <button aria-controls=\"content-973e7bc8-b1aa-49ff-9304-01fdca8fea23\" aria-expanded=\"false\"><strong>What is the difference between Enterprise Risk Management (ERM) and Internal Audit (IA)?<\/strong><\/button>\n                <\/h4>\n                <div class=\"accordion__content purdue-accordion__content\" id=\"content-973e7bc8-b1aa-49ff-9304-01fdca8fea23\">\n                    \n\n<p>The Office of Audit, Enterprise Risk and Operational Excellence offers both ERM and IA services. While ERM and IA serve distinct roles, they are mutually reinforcing. ERM provides a framework to proactively identify and assess risks inherent to the University with the goal of providing transparency of the risk universe to leadership, while IA provides independent assurance that risk mitigation efforts and controls are functioning as intended.<\/p>\n\n\n\n<p class=\"has-aged-gold-color has-text-color has-link-color wp-elements-663122753c2bcc22bdf2a1e5995db053\"><br><strong>ERM &#8211; Proactive Risk Transparency<\/strong><\/p>\n\n\n\n<p><br><strong>Role:<\/strong> ERM is a continuous, structured, and enterprise-wide process designed to identify and assess risks and evaluate risk mitigation activities that may impact the University\u2019s ability to achieve its mission and strategic goals. It involves leadership at all levels and is integrated into planning and decision-making processes.<\/p>\n\n\n\n<p><br><strong>Focus and Methodology: <\/strong>ERM is forward-looking and strategic in nature. It uses a centralized framework to identify, evaluate, and monitor risks across academic, administrative, research, financial, and operational areas. The ERM function works closely with stakeholders across the institution to assess risk likelihood and impact, evaluate mitigation strategies, and provide relevant information for consideration into strategic planning and decision making.<\/p>\n\n\n\n<p class=\"has-aged-gold-color has-text-color has-link-color wp-elements-bb10a4e9fd5c34bf7097539aa59adac8\"><br><strong>IA &#8211; Independent Assurance and Insight<\/strong><\/p>\n\n\n\n<p><br><strong>Role: <\/strong>IA operates as an independent and objective assurance and consulting function, reporting functionally to the board (or audit committee) and administratively to senior leadership. Its independence enables it to provide unbiased evaluations of the University&#8217;s control environment and governance processes.<\/p>\n\n\n\n<p><br><strong>Focus and Methodology:<\/strong> IA delivers point-in-time assessments of how well key controls and processes are functioning. It evaluates operations, systems, and activities to ensure they are efficient, effective, and aligned with the University\u2019s objectives. Through risk-based audit planning, data-driven analysis, and collaborative engagement with departments, Internal Audit not only detects issues but also recommends actionable improvements that strengthen the University&#8217;s overall control environment.<\/p>\n\n                <\/div>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/div>\n\n\n\n<div class=\"purdue-accordion-wrap  purdue-accordion-wrap--small\">\n    <div class=\"section has-none-background has-padding-top-none has-padding-bottom-none\">\n        <div class=\"container\">\n            <div class=\"purdue-accordion has-no-bottomborder\">\n                <h4 class=\"accordion__heading purdue-accordion__title  purdue-accordion__title--small\" id=\"title-1b7d8ab7-4ed1-458f-bb48-1771c8469fe2\">\n                    <button aria-controls=\"content-1b7d8ab7-4ed1-458f-bb48-1771c8469fe2\" aria-expanded=\"false\"><strong><strong>How is ERM different than the University\u2019s Office of Risk Management (ORM)?<\/strong><\/strong><\/button>\n                <\/h4>\n                <div class=\"accordion__content purdue-accordion__content\" id=\"content-1b7d8ab7-4ed1-458f-bb48-1771c8469fe2\">\n                    \n\n<p><br>ERM is strategic and provides a university-wide perspective of significant risks. ORM is more tactical and is primarily concerned with insurance risk management. ERM and ORM work closely together to align risk management processes and expectations.<\/p>\n\n                <\/div>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/div>\n\n\n\n<div class=\"purdue-accordion-wrap  purdue-accordion-wrap--small\">\n    <div class=\"section has-none-background has-padding-top-none has-padding-bottom-none\">\n        <div class=\"container\">\n            <div class=\"purdue-accordion has-no-bottomborder\">\n                <h4 class=\"accordion__heading purdue-accordion__title  purdue-accordion__title--small\" id=\"title-df0c4c63-0e4d-42b7-a06e-be550bb06a91\">\n                    <button aria-controls=\"content-df0c4c63-0e4d-42b7-a06e-be550bb06a91\" aria-expanded=\"false\"><strong><strong><strong>How does Purdue\u2019s ERM program compare to peer institutions?<\/strong><\/strong><\/strong><\/button>\n                <\/h4>\n                <div class=\"accordion__content purdue-accordion__content\" id=\"content-df0c4c63-0e4d-42b7-a06e-be550bb06a91\">\n                    \n\n<p><br>There is no single &#8220;standard&#8221; ERM program that all organizations follow. Purdue\u2019s ERM program is continually evaluated against industry standards, peers, and best practices to identify strengths, gaps, and opportunities for improvement.<\/p>\n\n                <\/div>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/div>\n\n\n\n<div style=\"height:72px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n<div  class=\"purdue-home-cta-stack has-gray-background noback\">\n    <div class=\"section has-padding-top-large has-padding-bottom-large\">\n        <div class=\"container\">\n                            <div class=\"purdue-home-cta-stack__intro\">\n                    <h2 class=\"purdue-home-intro-text__header header-font-united purdue-home-cta-stack__header\"><\/h2>\n                                            <div class=\"purdue-home-cta-stack__content\">\n                            \n\n<p><\/p>\n\n                        <\/div>\n                                    <\/div>\n                                        <div class=\"purdue-home-cta-stack__cards\">\n                    <div class=\"columns\">\n                                                    <div class=\"column\">\n                                                                <a class=\"purdue-home-cta-card purdue-home-cta-card--horizontal\" href=\"https:\/\/www.purdue.edu\/ia\/erm\/erm-request-form\/\" target=\"_self\">\n                                    <figure class=\"image\">\n                                        <img decoding=\"async\" class=\"purdue-home-background-image\" alt=\"\" src=\"https:\/\/www.purdue.edu\/ia\/erm\/wp-content\/uploads\/sites\/4\/2025\/11\/Training-and-Resources.jpg\" \/>\n                                    <\/figure>\n                                    <div class=\"flex-container flex-container--align-center\">\n                                        <p class=\"purdue-home-cta-stack__card-title\">Training &amp; Resources<\/p>\n                                        <p class=\"purdue-home-cta-stack__card-subtext\"><\/p>\n                                    <\/div>\n                                <\/a>\n                            <\/div>\n                                                    <div class=\"column\">\n                                                                <a class=\"purdue-home-cta-card purdue-home-cta-card--horizontal\" href=\"\/ia\/erm\/frequently-asked-questions\/\" target=\"_self\">\n                                    <figure class=\"image\">\n                                        <img decoding=\"async\" class=\"purdue-home-background-image\" alt=\"\" src=\"https:\/\/www.purdue.edu\/ia\/erm\/wp-content\/uploads\/sites\/4\/2025\/11\/Frequently-Asked-Questions.jpg\" \/>\n                                    <\/figure>\n                                    <div class=\"flex-container flex-container--align-center\">\n                                        <p class=\"purdue-home-cta-stack__card-title\">Frequently Asked Questions<\/p>\n                                        <p class=\"purdue-home-cta-stack__card-subtext\"><\/p>\n                                    <\/div>\n                                <\/a>\n                            <\/div>\n                                                    <div class=\"column\">\n                                                                <a class=\"purdue-home-cta-card purdue-home-cta-card--horizontal\" href=\"\/ia\/erm\/glossary\/\" target=\"_self\">\n                                    <figure class=\"image\">\n                                        <img decoding=\"async\" class=\"purdue-home-background-image\" alt=\"Student reading book\" src=\"https:\/\/www.purdue.edu\/ia\/erm\/wp-content\/uploads\/sites\/4\/2025\/11\/Glossary.jpg\" \/>\n                                    <\/figure>\n                                    <div class=\"flex-container flex-container--align-center\">\n                                        <p class=\"purdue-home-cta-stack__card-title\">Glossary<\/p>\n                                        <p class=\"purdue-home-cta-stack__card-subtext\"><\/p>\n                                    <\/div>\n                                <\/a>\n                            <\/div>\n                                            <\/div>\n                <\/div>\n                    <\/div>\n    <\/div>\n<\/div>\n\n\n<div  class=\"purdue-home-cta-stack has-none-background noback\">\n    <div class=\"section has-padding-top-large has-padding-bottom-large\">\n        <div class=\"container\">\n                            <div class=\"purdue-home-cta-stack__intro\">\n                    <h2 class=\"purdue-home-intro-text__header header-font-united purdue-home-cta-stack__header\"><\/h2>\n                                            <div class=\"purdue-home-cta-stack__content\">\n                            \n\n<p><\/p>\n\n                        <\/div>\n                                    <\/div>\n                                        <div class=\"purdue-home-cta-stack__cards\">\n                    <div class=\"columns\">\n                                                    <div class=\"column\">\n                                                                <a class=\"purdue-home-cta-card purdue-home-cta-card--horizontal\" href=\"\/hotline\/\" target=\"_blank\">\n                                    <figure class=\"image\">\n                                        <img decoding=\"async\" class=\"purdue-home-background-image\" alt=\"\" src=\"https:\/\/www.purdue.edu\/ia\/wp-content\/uploads\/2025\/11\/hotline-cta.png\" \/>\n                                    <\/figure>\n                                    <div class=\"flex-container flex-container--align-center\">\n                                        <p class=\"purdue-home-cta-stack__card-title\">Purdue University\u2019s Enterprise-wide Hotline<\/p>\n                                        <p class=\"purdue-home-cta-stack__card-subtext\">Purdue University is committed to providing an environment where individuals may report, in a simple anonymous way, suspected fraud; waste; issues of academic integrity or scholastic misconduct; misuse of University assets; or regulatory noncompliance. If you are a victim of sexual assault, dating violence, domestic violence, or stalking and would like to speak with a crisis counselor, please call the Center for Advocacy, Response, and Education (CARE) 24-hour confidential hotline at 765-495-CARE (2273).<\/p>\n                                    <\/div>\n                                <\/a>\n                            <\/div>\n                                            <\/div>\n                <\/div>\n                    <\/div>\n    <\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-204","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Frequently Asked Questions - Enterprise Risk Management<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.purdue.edu\/ia\/erm\/frequently-asked-questions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Frequently Asked Questions | Enterprise Risk Management\" \/>\n<meta property=\"og:description\" content=\"Independent assurance that internal controls, risk management, and governance operate effectively.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.purdue.edu\/ia\/erm\/frequently-asked-questions\/\" \/>\n<meta property=\"og:site_name\" content=\"Enterprise Risk Management\" \/>\n<meta property=\"article:modified_time\" content=\"2026-02-17T17:21:34+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.purdue.edu\/ia\/erm\/frequently-asked-questions\/\",\"url\":\"https:\/\/www.purdue.edu\/ia\/erm\/frequently-asked-questions\/\",\"name\":\"Frequently Asked Questions - Enterprise Risk Management\",\"isPartOf\":{\"@id\":\"https:\/\/www.purdue.edu\/ia\/erm\/#website\"},\"datePublished\":\"2025-11-24T16:16:26+00:00\",\"dateModified\":\"2026-02-17T17:21:34+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.purdue.edu\/ia\/erm\/frequently-asked-questions\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.purdue.edu\/ia\/erm\/frequently-asked-questions\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.purdue.edu\/ia\/erm\/frequently-asked-questions\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.purdue.edu\/ia\/erm\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Frequently Asked Questions\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.purdue.edu\/ia\/erm\/#website\",\"url\":\"https:\/\/www.purdue.edu\/ia\/erm\/\",\"name\":\"Enterprise Risk Management\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.purdue.edu\/ia\/erm\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Frequently Asked Questions - Enterprise Risk Management","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.purdue.edu\/ia\/erm\/frequently-asked-questions\/","og_locale":"en_US","og_type":"article","og_title":"Frequently Asked Questions | Enterprise Risk Management","og_description":"Independent assurance that internal controls, risk management, and governance operate effectively.","og_url":"https:\/\/www.purdue.edu\/ia\/erm\/frequently-asked-questions\/","og_site_name":"Enterprise Risk Management","article_modified_time":"2026-02-17T17:21:34+00:00","twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.purdue.edu\/ia\/erm\/frequently-asked-questions\/","url":"https:\/\/www.purdue.edu\/ia\/erm\/frequently-asked-questions\/","name":"Frequently Asked Questions - Enterprise Risk Management","isPartOf":{"@id":"https:\/\/www.purdue.edu\/ia\/erm\/#website"},"datePublished":"2025-11-24T16:16:26+00:00","dateModified":"2026-02-17T17:21:34+00:00","breadcrumb":{"@id":"https:\/\/www.purdue.edu\/ia\/erm\/frequently-asked-questions\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.purdue.edu\/ia\/erm\/frequently-asked-questions\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.purdue.edu\/ia\/erm\/frequently-asked-questions\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.purdue.edu\/ia\/erm\/"},{"@type":"ListItem","position":2,"name":"Frequently Asked Questions"}]},{"@type":"WebSite","@id":"https:\/\/www.purdue.edu\/ia\/erm\/#website","url":"https:\/\/www.purdue.edu\/ia\/erm\/","name":"Enterprise Risk Management","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.purdue.edu\/ia\/erm\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/www.purdue.edu\/ia\/erm\/wp-json\/wp\/v2\/pages\/204","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.purdue.edu\/ia\/erm\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.purdue.edu\/ia\/erm\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.purdue.edu\/ia\/erm\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.purdue.edu\/ia\/erm\/wp-json\/wp\/v2\/comments?post=204"}],"version-history":[{"count":14,"href":"https:\/\/www.purdue.edu\/ia\/erm\/wp-json\/wp\/v2\/pages\/204\/revisions"}],"predecessor-version":[{"id":464,"href":"https:\/\/www.purdue.edu\/ia\/erm\/wp-json\/wp\/v2\/pages\/204\/revisions\/464"}],"wp:attachment":[{"href":"https:\/\/www.purdue.edu\/ia\/erm\/wp-json\/wp\/v2\/media?parent=204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}