We understand the dynamic and guest-centric nature of the Hospitality sector. This industry, encompassing hotels, resorts, restaurants, and leisure facilities, faces unique challenges such as seasonal demand fluctuations, diverse revenue streams, high operational costs, and the critical importance of customer experience. An effective audit partner must possess deep insights into these factors and their impact on financial performance.

Our experienced audit team is proficient in applying International Financial Reporting Standards (IFRS) and Indonesian Financial Accounting Standards (PSAK). We bring specialized knowledge in standards highly relevant to hospitality entities: primarily PSAK 115 (Revenue from Contracts with Customers) for intricate revenue recognition from various services (room stays, F&B, events); PSAK 216 (Fixed Assets) for properties and extensive facilities; and PSAK 116 (Leases) for leased properties and equipment. We also focus on PSAK 202 (Inventories) for food, beverages, and supplies, and PSAK 237 (Provisions, Contingent Liabilities and Contingent Assets) for loyalty programs or potential liabilities.

We rigorously apply International Standards on Auditing (ISAs) and Indonesian Auditing Standards (SA). Our approach emphasizes SA 315 (Identifying and Assessing the Risks of Material Misstatement) to address industry-specific risks such as revenue leakage, cost control challenges, impact of online travel agencies (OTAs), and the management of perishable inventory. We also utilize SA 540 (Auditing Accounting Estimates) for areas like impairment of property assets and valuation of loyalty points. Our aim is to provide unwavering assurance over your financial statements, coupled with strategic insights to optimize operational efficiency, enhance internal controls over diverse revenue streams, and ultimately bolster stakeholder confidence in your financial performance and brand value.