Hong Kong-based Shangri-La Hotels and Resorts has installed the MetricStream Audit Management Solution to power its internal audit programme.
The system automates critical audit processes, enhances transparency into audit reporting and tracking, and strengthens collaboration on internal audit activities across geographies, according to MetricStream. The system also helps global hotel and resort operators maintain and uphold business standards by enabling integrated internal audits, facilitates a risk-based audit approach, and offers easy-to-use features.
MetricStream’s audit system can support different types of processes and methodologies for audits, including operational audits, financial audits, IT audits, vendor audits, environmental audits and quality audits.
According to MetricStream, in a single centralised framework, the solution consolidates and unifies various internal audit processes, data and activities from across the enterprise. Ranging from risk assessment, audit planning and scheduling, to field data collection, and a review of audit recommendations and remediation activities, the solution helps streamline the complete internal audit lifecycle. MetricStream also provides briefcase technology for conducting offline audits at remote locations for clients with geographically distributed business operations.
The hospitality industry runs internal audit programmes to ensure that proper policies, procedures and guidelines are followed for a wide range of operations such as accounting and billing, inventory management, promotional activities, vendor management, and theft and fraud prevention.
Shangri-La Hotels and Resorts has a room inventory of over 30,000 and owns and/or manages 72 hotels under the Shangri-La, Kerry and Traders brands.
Caption: The MetricStream audit solution automates critical audit processes and enhances transparency into audit reporting and tracking. Credit: WiNG