Chief Internal Auditor At Domeo Resources International (dri)
Domeo Resources International (DRI)
full-time
Job Summary
We are seeking an experienced, independent, and highly analytical Chief Internal Auditor to lead the hotel's internal audit function and provide objective assurance on financial, operational, and internal control processes.
The Chief Internal Auditor will be responsible for reviewing the effectiveness of financial and operational controls, safeguarding hotel assets, identifying financial and operational risks, detecting irregularities, and ensuring compliance with approved policies and procedures.
The role will cover key hotel operations including revenue, cash management, procurement, inventory, payroll, Food & Beverage, Front Office, stores, fixed assets, and general administration.
The successful candidate will work closely with management while maintaining sufficient independence to objectively review and report on the hotel's operations and control environment.
Key Responsibilities
Internal Audit Planning & Leadership:
Develop and implement a risk-based internal audit programme for the hotel.
Lead and supervise the internal audit function and audit activities.
Conduct periodic reviews of financial, operational, and administrative processes.
Identify key business and operational risks and recommend appropriate controls.
Ensure audit activities are conducted objectively, professionally, and in accordance with approved procedures.
Financial & Revenue Audit:
Review daily hotel revenue generated from rooms, Food & Beverage, events, banquets, and other income streams.
Audit daily revenue reports from the Front Office, POS, PMS, restaurant, bar, and other revenue centres.
Verify that all sales are properly recorded and accounted for.
Review discounts, complimentary services, refunds, voids, allowances, and adjustments for proper authorization.
Perform revenue reconciliations between PMS, POS, cash collections, bank settlements, and accounting records.
Investigate unexplained revenue variances and report findings to management.
Cash & Banking Controls:
Review daily cash collections, deposits, cash counts, and banking records.
Conduct surprise cash counts where necessary.
Verify cashiers' reports and identify shortages, overages, or irregular transactions.
Review bank reconciliations and investigate unusual or outstanding items.
Assess the effectiveness of cash-handling and cash-security procedures.
Procurement & Expenditure Audit:
Review purchasing activities to ensure compliance with approved procurement procedures.
Examine purchase requisitions, purchase orders, quotations, invoices, delivery notes, and payment documentation.
Verify that purchases are properly authorized and supported by appropriate documentation.
Review supplier transactions for unusual pricing, duplicate payments, conflicts of interest, or other irregularities.
Assess expenditure controls and identify opportunities to reduce unnecessary costs and losses.
Inventory & Stores Audit:
Conduct periodic and surprise audits of food, beverages, housekeeping supplies, engineering materials, and general hotel inventory.
Review stock receipts, issues, transfers, adjustments, and wastage.
Reconcile physical stock counts with inventory records.
Investigate stock variances, shortages, excessive wastage, and unexplained losses.
Review controls over high-value and sensitive items.
Recommend improvements to stores and inventory management procedures.
Food & Beverage Audit:
Review restaurant, bar, banquet, room service, and other Food & Beverage transactions.
Verify food and beverage sales against POS records and stock consumption.
Review portion control, wastage, complimentary items, discounts, and staff meals.
Conduct periodic checks on beverage and kitchen inventory.
Investigate unusual variances between purchases, consumption, production, and sales.
Payroll & Staff Cost Audit:
Review payroll records to ensure payments are made only to authorized employees.
Verify new employees, resignations, promotions, salary adjustments, allowances, overtime, and deductions.
Identify duplicate, inactive, unauthorized, or unusual payroll entries.
Reconcile payroll records with approved staff lists and attendance records.
Review controls over staff advances, loans, and other employee-related payments.
Asset Protection & Fixed Asset Audit:
Review controls over hotel property, equipment, furniture, vehicles, and other fixed assets.
Conduct periodic physical verification of fixed assets.
Review asset registers and investigate missing, damaged, or unrecorded assets.
Ensure disposals and transfers are properly authorized and documented.
Recommend measures to reduce theft, misuse, damage, and loss of hotel assets.
Compliance & Policy Review:
Assess compliance with hotel policies, financial procedures, approval limits, and operating standards.
Review compliance with applicable statutory and regulatory requirements.
Identify control weaknesses and instances of non-compliance.
Recommend corrective actions and monitor implementation.
Keep management informed of significant compliance and control risks.
Fraud & Irregularity Investigation:
Investigate suspected fraud, theft, financial irregularities, unauthorized transactions, and control breaches when assigned.
Review supporting documentation and relevant transaction records.
Analyze available CCTV, POS, PMS, accounting, inventory, and other records where appropriate and authorized.
Maintain confidentiality throughout investigations.
Prepare clear investigation reports and communicate significant findings to authorized management.
Internal Control Improvement:
Evaluate the adequacy and effectiveness of existing internal controls.
Identify control gaps, weaknesses, duplication of processes, and potential areas of financial leakage.
Recommend practical measures to strengthen controls and improve operational efficiency.
Follow up on previously identified audit issues to confirm that corrective actions have been implemented.
Audit Reporting & Management Advisory:
Prepare clear, accurate, and timely internal audit reports.
Present significant audit findings and recommendations to the General Manager and relevant management personnel.
Highlight material risks, control weaknesses, financial exposures, and areas requiring immediate attention.
Maintain proper audit working papers and supporting documentation.
Provide advisory input on new processes, systems, policies, and business initiatives where appropriate without compromising audit independence.
Qualifications & Experience
Bachelor's degree or HND in Accounting, Finance, Economics, Business Administration, or a related discipline.
Professional accounting or internal audit qualification such as ACA, ACCA, ANAN, CIA, or equivalent is strongly preferred.
4 - 7years of relevant experience in internal audit, external audit, financial control, or risk management.
Previous experience in a hotel, hospitality group, restaurant, corporate organization, or similar environment is an advantage.
Strong knowledge of accounting principles, internal controls, audit procedures, and financial reporting.
Experience auditing hotel revenue, cash, inventory, procurement, payroll, and operational processes is highly desirable.
Good knowledge of Nigerian tax, statutory, regulatory, and financial control requirements.
Experience with accounting software, hotel PMS, POS systems, and Microsoft Excel.
Demonstrable experience preparing audit reports and presenting findings to senior management.
Required Skills & Competencies:
Strong knowledge of internal auditing and internal control systems.
Excellent accounting and financial analysis skills.
Strong understanding of hotel revenue and operational controls.
Good knowledge of audit methodologies and risk-based auditing.
Strong analytical and investigative skills.
Excellent knowledge of Microsoft Excel and accounting systems.
Familiarity with hotel PMS and POS systems.
Strong report-writing and presentation skills.
Excellent attention to detail.
Strong problem-solving and decision-making abilities.
Ability to identify financial leakages and control weaknesses.
Strong knowledge of inventory, procurement, payroll, and cash controls.
Excellent communication and interpersonal skills.
Ability to maintain confidentiality.
Strong leadership and team-management skills.
Ability to work independently and objectively.
Personal Attributes:
Honest and highly trustworthy.
Independent and objective.
Analytical and detail-oriented.
Firm but professional.
Discreet and confidential.
Thorough and methodical.
Ethical and principled.
Strongly observant.
Assertive when addressing control weaknesses.
Calm and composed under pressure.
Good judgement and sound reasoning.
Professional in appearance and conduct.
Responsible and disciplined.
Able to challenge irregular practices respectfully and constructively.