Income Auditor

Roles and responsibilities

An Income Auditor is a professional who works in the hospitality industry, particularly in hotels and resorts, where they are responsible for ensuring that all financial transactions, especially revenue-generating activities, are recorded accurately. Their primary role is to review, verify, and audit daily financial transactions to ensure that they match the records and reports generated by the hotel or resort. The income auditor plays a crucial role in maintaining the financial integrity of an organization and preventing financial discrepancies or fraud.

Here’s a detailed breakdown of the key skills and responsibilities required for an Income Auditor:

1. Financial Auditing Skills

• Transaction Verification: Ensuring that all revenue transactions, such as room charges, food and beverage sales, and other services, are correctly recorded in the accounting system.
• Bank Reconciliation: Reviewing the daily transactions and ensuring that the cash or electronic payments match the sales records and are correctly reconciled with bank deposits.
• Audit Procedures: Following standard auditing procedures to verify that the financial records align with company policies and industry regulations.
• Internal Controls: Ensuring that internal controls are followed within the hotel’s financial processes to prevent errors and fraud.

2. Attention to Detail

• Accuracy of Records: Ensuring that financial records are accurate, with no discrepancies between the actual revenue and the recorded figures.
• Identifying Discrepancies: Spotting any discrepancies in the daily reports, such as missing or incorrect entries, and investigating them thoroughly.
• Data Accuracy: Reviewing various sources of data, including invoices, receipts, and transaction reports, to ensure that all figures are correct.

3. Knowledge of Accounting Software and Systems

• Familiarity with Financial Software: Proficiency in using accounting and auditing software such as Oracle, Micros, SABRE, Fidelio, or Opera, as well as Excel for data analysis and reporting.
• Data Analysis: Ability to work with large volumes of financial data, analyzing it for discrepancies and ensuring it complies with company accounting procedures.
• Point-of-Sale Systems: Understanding of how revenue from various departments (rooms, food & beverage, spa, etc.) is recorded in the hotel’s point-of-sale (POS) systems and ensuring the proper transfer of data to the general ledger.

4. Reconciliation Skills

• Daily Revenue Reconciliation: Comparing the daily revenue reports with the actual cash, credit, or electronic transactions recorded, ensuring there are no errors or discrepancies.
• Credit Card Reconciliation: Ensuring that all credit card transactions are reconciled and matched with bank statements and the hotel’s internal records.
• Cash Control: Ensuring that cash transactions are accurately recorded and balanced, and investigating any cash shortages or discrepancies.

5. Reporting and Documentation

• Daily Financial Reports: Preparing and generating daily, weekly, and monthly financial reports, summarizing revenue and any discrepancies found during the audit process.
• Revenue Reports: Ensuring that all revenue from the hotel is correctly reported, including room charges, food & beverage sales, and any other revenue streams.
• Documentation: Ensuring that all audit documentation is accurate, complete, and filed properly, in case of future reference or external audits.
• Compliance Reporting: Preparing reports that demonstrate compliance with local tax laws, accounting regulations, and industry standards.

6. Fraud Prevention and Detection

• Identifying Fraudulent Activity: Monitoring for potential fraudulent activity or financial irregularities, such as unauthorized discounts, billing errors, or mishandling of cash or credit card transactions.
• Collaboration with Security and Management: Working with other departments, such as security and management, to investigate any suspicious financial transactions and prevent fraud.
• Report Suspicious Activities: Notifying the management team or relevant authorities if any fraudulent activities are detected during the auditing process.

Desired candidate profile

We are looking for an experienced auditor to join our Finance department in Dubai. Based in our HQ in Tecom, this role will be responsible for the following:

• Develop and propose standard templates and formats for cash and income audits
• Physically Conduct Cash audit for all outlets
• Verify, review and Pass all accounting entries relating to revenue
• Consolidate and report daily revenue for all outlets to the management
• Support the Finance manager in Preparing monthly revenue reports
• Support Finance manager in preparation of ADHOC revenue reports
• Help with mobilization of new outlets and installation of CC POS
• Review and prepare aggregators reconciliation on a weekly basis
• Reconcile all bank entries with the revenue reported by the outlets
  

The ideal candidate will have had previous experience in the F&B or Hospitality market in the UAE.