Hospitality Financial Leadership – Top 10 ‘MUST DO’ Separation of Duties and Controls

David Lund | March 28, 2022

By David Lund In your hotel internal controls are a mission critical element you must have up and working well to adequately safeguard your assets. If you forgo these controls, you leave yourself wide open for – and I hate to use this word – fraud. That is right. People who work for you are much more likely to steal from you if you do not protect what is yours with proper and effective controls. That fact is just the reality of being in business and the world is full of horror stories of those who trusted too much. As Theodore Roosevelt said, “Risk is like fire: If controlled it will help you, if uncontrolled it will reach up a...