Operational Audits
Overview
Many audits deal with regulatory compliance. However, audits must go beyond compliance. Companies must also ensure that the processes are designed to meet company objectives and address company risks.
HOPTOM helps companies ensure that there is no deviation from its non-regulatory driven policies as well as streamline existing processes.
HOPTOM’s consultants have the industry experience and expertise to help your company execute your strategies and accomplish your goals.
Audits - Expertise
Operational Performance Audits
Operational audits review the operation of your business in order to identify potential improvements in efficiency and effectiveness, control procedures or other specialized areas. During our operational audits, we work closely with clients to conduct these audits, providing an independent assessment of business processes, as well as making recommendations to ensure appropriate procedures for efficiency, managing risk and increased control over business processes.
Vendor Compliance Audits
HOPTOM helps clients:
Determine if they have been invoiced correctly in order to recover losses, pursue legal recourse if necessary, and determine the advisability of continuing business with vendors.
Evaluate company control procedures and compliance and, if necessary, tighten eroded controls and establish new controls.
Set tone with company employees, vendor and related parties.
Establish personal rapport and lines of communications with vendor as well as convey company principles.
Franchisee Audits
The main objective of franchise and royalty compliance auditing is to determine whether there is under-reporting of revenue by the franchisees, which reduces the profitability of the franchisor and the dollars for marketing and promotional programs.
HOPTOM assists companies in determining the accuracy of the franchise and royalty fees owed by their franchisees. We specialize in developing a risk-based approach, which allows us to audit the majority of the locations remotely via mail audits, resulting in franchise audit cost savings.
Policy Audits
Policies and procedures serve no purpose unless the organization complies with them on a daily basis. Often times, upper management is too busy to adequately monitor compliance with policies. HOPTOM can gain an in-depth understanding of your company’s policies and develop an audit program to ensure that company personnel are complying policies.