The hospitality industry has emerged as one of the key industries driving growth of service sector in most countries around the world. With scale comes complexity, as the global industry and number of players are ever increasing, and so the hospitality industry navigates a tough commercial, regulatory and governance environment. Taxation policies, debt-funding, licensing issues, human resource management, quality of guest services in the era of social media, safety, security, etc, are some of the major challenges faced by the hospitality industry in the country. In this scenario, the roles and responsibilities of the members working as internal auditors in hospitality industry has assumed considerable significance. As the third line of defense, internal audit plays a key role in organizations risk management, and assurance processes. This course covers in detail all important aspects related to hospitality industry. The first module provides a brief overview of hospitality industry covering aspects, such as, financing and operating models, revenue aspects, operational processes etc. The second module deals with audit program for large hotel chain and conglomerates. The third module will deal with audit program for standalone budget hotels. The fourth module will deal with night auditing process. The fifth chapter throws light on areas of specialization which are projects, revenue management, information systems audits, risk control matrices, CAAT based auditing, etc.
