ARE YOU RUNNING A HOTEL BUSINESS, BUT THE SALES FIGURES ARE NOTE MAKING SENSE?

Conclusion

Ignorance is never an excuse to break the law, neither does “Had I Known” ever reverses the effects of wrongdoings. If you have been a victim of fraud or you have been innocent and your credibility has been dragged to the mud by the fraudulent activities of others inside or outside your organisation, you will appreciate the need to be well informed ahead of time of the things that can go wrong and what actions that need to be taking to quickly nip the situation on the bud and where not preventable, minimise the impacts.

Revenue leakages are invisible pipes and holes that drain revenues and hit profit margin. Fraud and abuses when uncontrolled can widen the pipes and holes such that survival and long-term sustainability of the victim organisations will become a very big issue.

Just like every other organisation, the startup hotel businesses are not immune to fraud risks and abuses and the horrendous impacts they can have on the revenue and profit margin. Being well informed and equipped will help to make great difference in the combat and revenue protection.

The assurance providers, particularly, the Internal Auditors need to do more to up their skill and regain their credibility in contributing more to helping their organisation in preventing and discovering frauds, root causes and providing root cause driven actionable solutions. This blog post provides the guidance and tips to help.

To access my other posts, click https://www,sallyogwookeyumahi.com//blog/

Please, contact sally on contactus@platinumedgeconsultingltd.com or visit our website https://www.platinumedgeconsultingltd.com If you need more information on Corporate Governance Principles, Boards and Board Committees Effectiveness Tool Kits or need help to support your organisation provide solutions on the following:

• Board induction.
• Corporate governance framework design and implementation and post-implementation handholding support,
• Assessment of corporate governance framework, Board evaluation and Board Directors peer reviews for regulatory compliance.
• Training on how to design corporate governance framework and implementation, conduct assessment of corporate governance framework, Board evaluation and Board Directors peer reviews.

More information about sally:

Sally facilitates training on Risk governance and assurance for Company Board Directors, Executive Management and also Senior and Middle Level Managers aspiring to be Company Board Directors. Some of the organizations where Sally has facilitated training programs include: Lagos Business School (LBS), West African Institute for Financial and Economic Management (WAIFEM, established by Central Banks of The Gambia, Ghana, Liberia, Nigeria and Sierra Leone), The Institute of Directors (IOD) Nigeria, Nigeria Deposit Insurance Corporation (NDIC), Financial Institutions Training Centre (FITC), Chartered Institute of Bankers of Nigeria (CIBN), The Society for Corporate Governance Nigeria (SCGN), Microfinance Agricultural Learning & Development Centre (MLDC) , FirstBank of Nigeria, Access Bank PLC, Guaranty Trust Bank (GTB), Jaiz Bank, Daily Trust and Leadway Pensure PFA.

Sally authored the books on “Corporate Governance “and “Professional Conducts” for Bankers. The books have been adopted by the Chartered Institute of Bankers of Nigeria (CIBN) as Study Packs for the student members of the institute.

 Sally is widely travelled and have executed client projects for big and medium scale brands in many geographical locations including UK, USA, UAE, Netherlands, South Africa, Kenya, Zambia, Mauritius, Ghana, Togo, Sierra Leone, Zanzibar, Tanzania and Nigeria.