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Table of Contents

• Introduction
• Management’s assessment of the risks faced
• Size and nature of the company
• Establishment of responsibility
• Segregation of duties
• Documentation process
• Physical controls
• Independent internal verification
• Human resource control
• Conclusion
• Reference list

Introduction

The accounting and auditing procedure can able to create the best practices that can access for the achievement structure of the organization. The organizational processes cater the better formation that can create the symmetric evaluation in order to reach out to the objectives and set up better market orientation (Bruwer et al. 2017). The financial reporting and the different compliance with laws, policies and regulations incorporate the best-structured process for the future work implications.  Internal control policies within the organization ensure the different reliability so that the accounting record can able to maintain in a proper way. In order to identify any errors and create the effective procedure for the later development and other criteria can able to generate the best procedure for identifying the informed financial decision. From separation of duties to generating the best perspective for the strategic and critical assessment, the organization can lead them for different market purposes. In this assignment, the entire criteria focus to the different internal control processing system that creates the best-preferred situation for the organization by mitigating all risks.

Management’s Assessment of the Risks Faced

The management is the essential criteria that focus to the entire organizational process and generate the formative way for the work processes. From the small business to the other big businesses, need to process as per the entire planning and implementation criteria that can able to incorporate the risk evaluation structure in a particular manner. The potential risk treatment along with the management plan can collaborate for the involved status and their informative purposes in a systematic manner.  Move pick Hotel has generated their best effective standard that can able to process with the different organizational variation and the planning procedure will create the formative planning process for the entire thing.

Size and Nature of the Company

Movenpick Hotel and Resort is the working in hospitality sector that progress with the different management criteria, headquartered in Baar, Switzerland. The Kingdom Group has taken care of the entire operation perspective that cater to the customer’s services related to resorts, hotels and Nile cruisers. The organization is further planning to serve the customers with more ease and quality services by opening their services in Middle East and Asia. 30 resorts get planned for future and they are generating more service preferences with the future orientation. As the fastest growing hotel chain, the organization is generating their focused application so that the customers able to get entire support and they can earn profitability. As a privately owned company, the management is focusing more to the service quality with good products. Planning and implementation procedure create the focused implication that generate the processed structure for the entire planning cater the best effective purposes (Ettish et al. 2015). Named as Zurich Airport and Zurich Regensdorf, the Movenpick Hotel and Resort has introduced their official opening. For getting the suitable customer range the company able to create their perfect market that can provide them successful environment to create the future evaluation and state the applicable implication in a suitable manner.

Establishment of Responsibility

As the organization has many service criteria so, they get divided in different sections so that the entire organization can able to focus to the better criteria and move forward for the later purposes. The proper division of roles and the applied statement for the different responsibilities can act as per t5he operation, function and service delivery prospective. Different positions and their responsibilities need to state as per the organizational need and demand and then focus to the applicable projection for the later criteria. From the night audit, housekeeping, uniformed services, division in food and beverage sector, sales and marketing division, maintenance department and the human resource management team take care of the entire organizational prospect in a suitable manner (Ivanova, 2016). Several other implementation purposes cater the best effective purposes for the organization that the general management along with the evaluation of the control standard process standard and practices can able to process (Rae et al. 2017). The full hospitality services generate the formative processing so that the high range and mid-range services can able to affect in a good way to the organization. The different management structure creates different strategies so that the employees can able to work in a symmetric way. From the high-level management work practices to the lower work basis all need to process with a channel that can create the formative basis of the working standard.

Issues

The different issues that the organization faced during the establishment of responsibility include- the turnover rate. As the industry is quite big so they have different payment structure and people are really struggling with the imparity of salary standard and for that people leave their job and this low pay continue to have higher turnover rate. The relatively high turnover rate focus more to the recruitment structure that can put a negative impact to the industry as many of the non-deserving employees will get recruited by the employer (Guo et al. 2015). The failure to not able to access the quality of the candidates has generated many problematic situations for the people. The training purposes for the different candidates get tough to handle, as there are many new candidates hold different levels of work structures. The non-understandable and non-skilled employees have harmed the organization in different way and they cannot able to maintain their position in market (Le & Lehmann, 2016). Marinating the employee morale is tough process in this situation as people are not responsible enough to handle their individual task and the management needs to take of each of the processes and it is tough.

Segregation of Duties

As the organization has their various segment in the work and the various division make it tough to process for the future things. People needs proper guidance and the management needs to have the well-trained structure so that they can able to manage the entire criteria but is create different problems for the people, as the people are not focused about their work. Stress regarding work, understaffing and unprocessed work culture generates different issues for the people and management is somehow incapable to handle the situation (Ettish et al. 2017).

Documentation Process

The documentation structure for the hotel and resort services create various problems that different issues for the organization and the management cannot bale to maintain their reputation in market. The documentation structure of Movenpick Hotel generates from the service to the guests when they first arrive to the hotel and then introduce them with the possible information. The best process for the document management and their supply cater the effective perspective that generates the best environment for the organization to interact with different people and offer them different services (Ge et al. 2017). The potential perspective along with the important criteria to improve the further working possibility can state the best effective processing. The utmost importance along with the effective purposes caters the systematic application for the further workable assessment.

Physical Controls

The process of physical control involves the protection purposes that hold the formative basis for the different asset of the hotel and the safety of its building. The different equipment’s that the hotel has need to take care in a particular manner. Physical and perimeter control need to adjust with the entire procedure for the improvement and quality maintenance structure. The authorized personnel determine the processing of the detection and other planning structure that help to organize the entire procedure (Ivanova, 2016). The control system gets integrated with the best perspective for the future assessment and any of the service delay and operated locks and strikes need to process in a particular manner (Aziz et al. 2015).

Independent Internal Verification

The verification purposes need to adjust with the entire criteria as it can able to generate the better system orientation and the management can able to focus to the better development and expansion criteria (Guo et al. 2015). The record keeping purposes along with the any of the discrepancies need to report to the management so that they can able to work as per the solution. Rotate the duties of the employees, conduct background checks and create bond with the employees can create the best factors for the organizational development.

Human Resource Control

The control process for the HRM practices that Movenpick Hotel incorporates in their service processing cater the informative and better implementation structure for the later workable implications for the entire planning criteria. The planning process for the hotel industry generate the effective purposes so that the strategic implications can able to maintain and cater the proper services to the employees and the employees can able to serve the same to the customers. In order to attract the employees, the organization needs to process with the proper and qualifies standard so that the adequate knowledge serving structure can able to maintain. The employees need to get the best suggestion, skill and knowledge so that they can able to serve the customers in a perfect way. By analyzing the different designation and their job, the management needs to cater them the perfect knowledge so that they can able to work as per the instruction.

Conclusion

Movenpick Hotel and resort needs to process their work criteria with the internal control system that can able to access the entire effective processing and positively can affect the organization. The different purposes along with the employment selection, allocating the resources in a particular manner and catering the best environment so serve the customers perfectly all are necessary facts for the organization. Managing employee relation and generating the best purposes in order to create the employee retention factor need to present with reward and compensation process. While adjusting the best factors for proper management design and attracting the employee by selecting and recruiting can create the best workable platform for the organization with long-term possibility.

Reference List

Aziz, M. A. A., Ab Rahman, H., Alam, M. M., & Said, J. (2015). Enhancement of the accountability of public sectors through integrity system, internal control system and leadership practices: A review study. Procedia Economics and Finance, 28, 163-169.

Bruwer, J. P., Coetzee, P., & Meiring, J. (2017). Can internal control activities and managerial conduct influence business sustainability? A South African SMME perspective. Journal of Small Business and Enterprise Development.

Chen, J., Chan, K. C., Dong, W., & Zhang, F. (2017). Internal control and stock price crash risk: evidence from China. European Accounting Review, 26(1), 125-152.

Ettish, A. A., El-Gazzar, S. M., & Jacob, R. A. (2017). INTEGRATING INTERNAL CONTROL FRAMEWORKS FOR EFFECTIVE CORPORATE INFORMATION TECHNOLOGY GOVERNANCE. JISTEM-Journal of Information Systems and Technology Management, 14(3), 361-370.

Ge, W., Koester, A., & McVay, S. (2017). Benefits and costs of Sarbanes-Oxley Section 404 (b) exemption: Evidence from small firms’ internal control disclosures. Journal of Accounting and Economics, 63(2-3), 358-384.

Ge, W., Li, Z., Liu, Q., & McVay, S. E. (2017). When does internal control over financial reporting curb resource extraction? Evidence from China.

Guo, J., Huang, P., Zhang, Y., & Zhou, N. (2015). The effect of employee treatment policies on internal control weaknesses and financial restatements. The Accounting Review, 91(4), 1167-1194.

Ivanova, E. A. (2016). EVALUATION OF THE EFFICIENCY OF THE INTERNAL CONTROL SYSTEM OF THE EXTENSIVE REPAIR FUND. European Journal of Natural History, (5), 63-65.

Le, N., & Lehmann, C. M. (2016). Purchasing Process Internal Control Assessment: A Comprenhensive Case Study Using Data Analytic Software. AIS Educator Journal, 11(1), 9-15.

Martin, K., Sanders, E., & Scalan, G. (2014). The potential impact of COSO internal control integrated framework revision on internal audit structured SOX work programs. Research in Accounting Regulation, 26(1), 110-117.

Rae, K., Sands, J., & Subramaniam, N. (2017). Associations among the five components within COSO internal control-integrated framework as the underpinning of quality corporate governance. Australasian Accounting Business & Finance Journal, 11(1), 28.

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