Regency Hotel Management provides a hotel Internal Audit Program to ensure proper accounting policies and procedures are followed. The hotel Internal Audit Program is conducted with unannounced random audits at all the properties. The program follows guidelines establish to detect and prevent theft and fraud. Safes and house banks are audited as well as daily deposit reports for both cash and credit cards. Accounts Receivables are also audited for correct procedures on billing practices and posting of payments and adjustments. The accounts payable is reviewed for proper authorization on disbursements from the manager’s account and/or petty cash. Food and Beverage procedures for inventory management and promotional accounts are review for proper policy. Gift Certificates and Trade-Outs are monitored for control procedures. Vending and Miscellaneous Revenues are tracked to ensure collection of all income. By conducting internal audits at hotels Regency Hotel Management can make sure the policies and procedures implemented are followed and proper internal controls are maintained.
Please contact us to learn more about our hotel internal audits.