Outsourcing the internal audit function

The aim of the assignment was to reactivate the Internal Control system within our client's 86 hotels, in order to provide them with their own reference system guaranteeing a relevant level of risk control. The aim is to obtain sufficient assurance as to the reliability of financial data, particularly those issued by the accounting subcontractor. Overall, the aim is to reinforce control of operational and financial risks associated with hotel operations, by guaranteeing the compliance and reliability of internal procedures. This framework also makes it possible to meet regulatory requirements and ensure effective management of the Group.

The methodology began with the creation of a critical risk matrix covering all 86 hotels, identifying areas of high potential impact. An Internal Control manual was developed, detailing the key procedures essential to the operation and monitoring of the hotel business. Then, annual audit plans were defined, including the scope of interventions, precise audit programs, and audit launch, summary and reporting media. Finally, internal audits were deployed at hotel sites and accounting shared service centers in 7 European countries to validate compliance with and robustness of procedures.