Financial Risk Audit

• Our role is to assist the owners or management of the operation to monitor and measure the effectiveness and efficiency of the internal control system. We attempt to provide objective assurance and advice on financial risk and control.

• Throughout the considerable time that we have worked in the hospitality industry we have gained the knowledge, skills and tools to support, guide and assist a company to achieve its goals and help them to manage any risks that might threaten the company’s efficiency. We believe that we have, in the past, identified incidences of control failings or weaknesses that have resulted in contingencies that have had a material impact on the company’s financial performance.

• The positioning of the audit, its content and the deliverables are designed specifically to the client’s requirements. As a consequence the significant internal and external operational, financial, compliance and other risks are identified and assessed on an ongoing basis.

• We favour scored audits where the re-visit criteria is based on an acceptable level of achievement. This enables the company to direct any expenditure over and above the planned regime to the relevant areas whilst raising the profile.

• We work extremely closely with our nominated contacts in the Finance and Audit departments of our clients. This can take the form of weekly, monthly and quarterly reporting that includes individual restaurant and area summaries along with specific reports identifying poor performing branches. We believe that a significant part of our brief is to share information with all levels of the management team.

• Ongoing Annual Reviews with the external auditors.

• We have developed an HTML viewer programme that allows the company to view any audit in the estate by 7.00 am the day following the audit.

• Once we have designed any working audit programme we continually re-visit and reassess the validity and effectiveness of the programme. The audit programme model is designed in a dynamic format that allows us to adjust processes or control checks to reflect new or changing risks, or operational deficiencies. It is pertinent to state that risks can increase or arise from internal factors such as organisational restructuring or from changes in reporting processes or underlying information systems.