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Best practices of Internal Audit

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In 2000, the Atlantica Group joined forces with TUI AG with joint ventures ... Major Tour Operators :TUI UK and Deutschland & First Choice UK- The biggest tour ... – PowerPoint PPT presentation

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Title: Best practices of Internal Audit


1
Best practices of Internal Audit
  • Atlantica Hotels Resorts
  • Cyprus-Greece

2
About Atlantica Hotels
  • Established in 1981 with the opening of the first
    Atlantica Hotel in Limassol. In 2000, the
    Atlantica Group joined forces with TUI AG with
    joint ventures in Cyprus and Greece. It has now
    grown into a hotel chain currently operating 13
    hotels in Cyprus and Greece. The Atlantica Group
    employs on average 1800 employees in Cyprus and
    Greece.
  • Our main destinations in Greece
  • Rhodes Atlantica Imperial Beach Hotel
    5Atlantica Aegean Club 4, Atlantica
    Princess Hotel 4,CURRENTLY UNDER CONSTRUCTION
    2 MORE HOTELS.
  • CreteAtlantica Sensatory Resort 5
  • KosAtlantica Porto Bello Beach Club
    ,Atlantica Porto Bello Royal

3
  • Our main destinations in Cyprus
  • Limassol Atlantica Bay, Atlantica Oasis and
    Atlantica Miramare Beach Hotel( all 4)
  • Paphos Atlantica Golden Bach Hotel 4
  • Agia Napa Atlantica Aeneas Hotel 5
  • Atlantica Sun Gardens Club 4
  • Atlantica Sancta Napa 3

4
Major Markets
  • Our major markets UK, Germany Russia.
  • Our Major Tour Operators TUI UK and Deutschland
    First Choice UK- The biggest tour operators in
    Europe.
  • Our 2nd Major Tour Operator as from 2006 is
    Natalie Tours-Russia.

5
Management systems implementation
  • In 2005,the board of Directors decided to
    implement the management systems, therefeore,1
    year later, part of the Atlantica Group
    (Atlantica Bay and Golden Beach) were
    certificated with the following management
    systems Quality Management system ISO
    90012000,Environmental Management System, ISO
    140012004 and Food Safety Management System ELOT
    1416(currently transferring to ISO 22000).
  • It was ONE STOP CERTIFICATION,3 systems 2 hotels
    simultaneously.

6
Management systems implementation
  • The Atlantica Bay and Atlantica Golden Beach
    hotel are in the process of implementing 4th
    management system, OSHAS-ISO 18001.
  • The Atlantica Oasis Hotel is currently
    implementing 4 systems simultaneously (ISO 9001,
    ISO 14001,OHSAS 18001 and ISO 22000).
  • The Atlantica Miramare beach hotel is
    certificated with ISO 9001, OHSAS 18001 and ELOT
    1416).
  • After the completion of the Atlantica Oasis
    certification, we are planning to implement the
    IMS in our hotels in Greece.

7
Internal Audits-Our tool for continuous
improvement
  • Atlantica Hotels created the Internal Audit
    department in1998,which was mainly carrying out
    financial audits.
  • As from 2002 new procedures of internal control,
    FB cost control, income auditing and standards
    of service procedures were set up.
  • The Internal Audit department is responsible to
    audit the above systems.
  • In 2005 the Internal Audit department takes over
    the IMS internal Audit.

8
Internal Audit Procedure
  • The Group Internal Audit department has two areas
    of responsibility.
  • 1) The supervision of the system of internal
    control.
  • 2) The execution of the IMS Internal Audits.
  • The audits are organized and executed by the
    Group Internal Auditor with the assistance of
    trained quality coordinators and Hotel
    Controllers. The internal audits are carried out
    as per Internal and External Audit Procedure. For
    each Internal Audit, the tour operators
    specifications and check lists are also
    consulted, so we can fulfill our contractual
    obligations and obtain our partners trust.

9
Internal Audit Procedure
  • Two annual scheduled audits are our main target.
    Additionally, every 2 to 3 months a non-scheduled
    IMS and Internal Control Procedure Audit is
    carried out as part of the Internal Control
    procedure.
  • Audit Process
  • Annual Audit programme
  • Detailed departmental audit programme(
    distributed one week prior to audit).
  • Preparation of IMS Control Check lists
  • Preparation of Tour operator check lists
    (contractual obligations)
  • Pre-Audit meeting and interview with HODs

10
Internal Audit Procedure
  • Field work
  • Opening meeting
  • Review of system manuals, procedures,
    instructions and data sheets
  • Visit the departments
  • Identification of any problems and record all
    findings (on the check lists)
  • Control of departmental records, staff interviews
    for IMS awareness
  • Audit review with Quality representative, GM
  • Closing Meeting and discussion

11
Internal Audit Procedure
  • All findings are evaluated and discussed with
    hotel HODs and GM, final decision is then made
    for any non-conformities. Where the immediate
    action is possible the non-conformities are not
    recorded, where a longer time is required NCs
    are recorded. Corrective and preventive actions
    are also suggested.
  • Furthermore, ??S Audit Reports along with
    Internal Control Audit Reports are sent to the
    Board of Directors which are reviewed and
    discussed after every Internal Audit in a
    separate meeting.

12
Conclusions
  • The integrated approach to auditing both the
    financial as well as the management systems part
    of the operation brings out the following
    benefits
  • Central management of the process
  • Calibrated and trained auditors
  • Integrated and completed picture about the status
    of the operation reported to management.
    Consolidation of results.
  • The internal financial audit is assisted because
    the operational part is carried out during the
    management systems audit
  • The principals/ customers/ contractual
    specifications are audited as part of the
    integrated audit
  • The fact that the management receives a
    consolidated report/ picture about the status of
    all four management systems assists in taking
    balanced decisions that affect equally all
    management systems

13
Our mission and vision
  • Atlantica Group is committed to add value to its
    products and offer the best possible services to
    its customers, achieve high customer satisfaction
    and contribute to the communities we live and
    work in.
  • We intend to perform practical Internal Audits
    regularly and identify any area for improvement
    so we can minimize any risk of degrading our
    services, customer satisfaction and safety.

14
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