We specialize in understanding how the F&B industry work and this experience provide an edge in our internal audit offering for this industry.
B2C (Business to Consumer) model makes any company vulnerable to inherent risks associated with this model i.e. Pilferage, Over stocking, Cash shortages out of collection amount etc. So, role of internal audit is very valuable in this industry.
Scope of work:
- Review the project management process for opening any new outlet
- Review the control system through Budget vs Actuals
- Review the integration (even manually) of inventory management with preparation of dishes or material and final sale
- Compliances health check which includes State level compliances
- Systems to prevent the revenue leakages and wastages
- Status of various kind of business analytics i.e. Average order size, seasonal fluctuations, customer acquisition cost from various sources, table rotation time etc.
- Review of food costing
- Physical verification of inventory on sample basis
- Review of payroll process