Risk prevention and compliance
HRA recognises that that no company could guarantee that every weakness is removed from its core internal business process, as risks always remain. Risks become serious because of failures to identify operational problems at early stages. They continue to flourish mainly because of previous inappropriate procedures; unethical principles when they were first reported. The balances between preventive, reactive and reconstructive controls are critical.
Information Technology has replaced the manual operational and accounting systems. Unfortunately no appropriate or effective internal control procedures have been developed to ensure the complexity with which the information is processed, data is produced and presented.
Operational and Financial risk has become complex, with an array of controls dealing with a matrix of risks. The gap between operational and financial risks could be narrowed by excellent intelligence, operational and financial internal auditing procedures
HRA will develop appropriate Risk Management Techniques to reduce risks and improve profitability
HRA assist in developing Risk Management Reporting Systems and Procedures that comply with an ever-growing list of laws
Many hotel companies do not have an accurate understanding of their internal compliance requirements. Any accidental breaches can lead to extreme corporate and personal penalties. The failure to maintain effective compliance processes must be regarded as a serious risk.
Our Delivery Programme
Identifying the ethical guideline and legal principles of your internal control procedures that are appropriate with the risks and compliance requirements
Establishing ethical and legal policies
Develop innovative internal business processes that meet the ethical and legal compliance tests
Identifying Resources to improve operational and financial performance.
Provides independent operational and financial reports by analysing current systems and procedures.
Support integrated risk management audit to identify and minimise operational and financial risks
Reviewing risk and compliance standards.
Specific control of processes in Front of House Operations, Food and Beverage Operations and Finance
Drafting Operational and Financial Audit Manual
Benchmarking control and compliance standards.
Analysing the rate of return on investment in Internal Audit, Compliance and Corporate Security departments.
Resolving specific problems:
Designing internal control procedures for new systems and high risks