Utilize the best-practice steps in this sample audit program for a hotel to perform a comprehensive review of your organization's revenue and financial reporting processes. Beginning with a structured review of the hotel's revenue streams, including rooms, food and beverage, conferencing, telecommunications, and other ancillary services, this tool emphasizes the importance of mapping processes and assessing segregation of duties. Organizations are encouraged to scrutinize controls at every stage, from guest registration and rate management to checkout and post-departure charges, ensuring that all transactions are properly authorized and recorded.

This work program also addresses unique industry challenges such as “walking” guests during overbookings, managing group bookings, and handling special incentives or discounts. It provides detailed procedures for testing the reliability of point-of-sale (POS) systems, monitoring cash and credit transactions, and verifying compliance with local tax laws. Special attention is given to the detection of fraudulent activities, the evaluation of exception reports, and the reconciliation of daily revenues across multiple systems.

Core insights include:

• The program addresses all major hotel revenue sources, with tailored procedures for each area.
• Internal controls, exception processing and risk mitigation are heavily focused on throughout the revenue cycle.
• Guidance is provided for uncovering potential misstatements and fraudulent reporting.
• Actionable recommendations are encouraged to enhance the efficiency and effectiveness of hotel financial operations.