Shroff selected as chief audit and compliance officer
Nilufer (Nilu) Shroff, a skilled internal auditor with experience in both higher education and health care, has been selected for the new position of chief audit and compliance officer at Princeton University following a national search.
Shroff currently is director of internal audit at The Children's Hospital of Philadelphia, a function she built from the ground up. She will join the University May 21.
Shroff, a chartered accountant and certified internal auditor, has more than 18 years of internal audit and consulting experience, with specialization in the areas of risk assessment, integrated audits, business process reviews and fraud investigations. She will be responsible for providing overall leadership for the University's internal audit and compliance functions. Laurel Harvey, general manager for administration and compliance since 2004, has been named general manager for safety and administration (see related story).
In this new role, Shroff will be charged with continuing the evolution of internal audit from a traditional focus on auditing records and documentation and reporting infractions to a risk-based, consultative approach intended to strengthen the control environment and help improve the management of the University.
"Nilu's strong audit and compliance background, familiarity with institutions similar to Princeton and consultative approach to audit activity will make her an excellent addition to our senior management," said Executive Vice President Mark Burstein, to whom Shroff will report.
Prior to joining The Children's Hospital of Philadelphia in 2001, Shroff was employed at the University of Pennsylvania, where she participated in financial, operational, compliance and integrated audits covering a wide range of activities.
Shroff's experience also includes a senior accountant position at the Greater Atlantic Health Service in Philadelphia, which she held from 1990 to 1993. In addition, she worked in Mumbai, India, as a public accountant for nine years and as the proprietor of an accounting firm for two years. She holds a bachelor's degree in commerce and economics as well as a bachelor of laws degree from Mumbai University.
Shroff has served as a governor for the Philadelphia Chapter of the Institute of Internal Auditors and as co-chair of the compliance and audit committee of the Metropolitan Philadelphia Chapter of the Healthcare Financial Management Association.
At Princeton, Shroff also will report to Janet Clarke, chair of the audit and compliance committee of the Board of Trustees, who noted the need for a stronger internal audit function in today's environment. "The profession of internal auditing has changed dramatically over the past years," Clarke said. "The Sarbanes-Oxley Act has intensified focus on compliance and regulatory affairs in for-profit businesses and non-profit institutions alike. And the increasingly complicated regulatory environment for research institutions seeking to comply on issues concerning government-sponsored research has caused many universities to adopt a targeted, risk-based approach to internal audit."
Shroff's first priority will be to lead a risk assessment conducted by an independent consultant that will serve as the framework for an audit plan. She also will be responsible for moving the office increasingly toward an in-house resource that managers regard as an internal consulting group on auditing issues.
"I am honored by the opportunity to join the Princeton University community and look forward to being a partner within the administration to improve business processes and enhance internal controls," Shroff said.