JANUARY 2024 - NEWSLETTER PURPOSE OF HOTEL INTERNAL AUDITS

WHAT IS THE PURPOSE OF HOTEL INTERNAL AUDITS



Provides Objective Insight

By providing an independent and unbiased view, the internal audit function adds value to your organization.

Improves efficiency of operations

By objectively reviewing your organization’s policies and procedures, you can rest assured you are following those policies and procedures appropriately, and that they adequately mitigate your company’s unique risks.

Evaluates risks and protection of assets

An internal audit program assists management and stakeholders by identifying and prioritizing risks through a systematic risk assessment.

Assesses Controls

Internal auditing is beneficial because it improves the control environment of the organization by assessing efficiency and operating effectiveness.

Ensures Compliance with Laws and Regulations

By regularly performing an internal audit, you can ensure compliance with any and all relevant laws and regulations.