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Usually audits in golf clubs are aimed at verifying financial results and are conducted by external auditors (accountants) or honorary members depending on the clubs structure. These audits focus on accounting practices and in rare cases they go a step deeper looking into policies and procedures evaluating potential risks. Hardly ever the connection to other factors is investigated.
Our audits aim is providing an independent, comprehensive view of a golf entity for decision makers, uncovering hidden problems and discovering hidden opportunities.
As the graphic in the header illustrates, the financial results are closely connected to many factors such as:
- Market environment
- Club profile
- Facilities
- Operation
All these elements are again interconnected. For interpretation of financial results as well as for strategic decision making it is therefore very useful looking into the other areas too.
That is exactly what our audit is doing.
The complete view is valuable in many ways for profit oriented proprietary entities as well as member owned clubs where the emphasis is on keeping a certain position in the market while maintaining solid finances.
The benefits can be on various levels depending on the clubs objective.
- Helping discovering undeveloped revenue opportunities
- Improving existing revenue sources
- Finding cost savers that won’t decrease service standards
- Validating service standards
- Verifying internal reports
- Getting fresh ideas and thoughts for further developments
- Just being better prepared for upcoming changes
it may be also be helpful in:
- Dissolving difficult political constellations or deadlocks
- Assisting in decision making e.g. for capital expenditures, strategic planning or operational changes
How does it work?
The structure of the process is the same for every golf club but scope and depth are as individual as each golf entity.
Step 1 Pre-Assessment
Through our convenient online Pre-Assessment we can estimate the scope and depth of the audit. Based on the information provided, we will suggest a process that fits your particular needs. Once agreed to the most suitable process for you we move on to the next step.
Step 2 Questionnaire
Based on the pre-assessment we will send you a comprehensive questionnaire covering all relevant areas of your entity. This questionnaire is split into different sections, allowing distribution to applicable parties within your organization.
Step 3 Site visit (optional but recommended)
The site visits aims at clarifying the picture. It may contain one or more of the following components:
- Verify the information provided in the questionnaire
- Inspect facilities
- 'Test shop'
- Competition visits
- Meeting with relevant persons (one on one or in groups) like
- Owner
- Owner represantatives
- President
- Committees
- General Manager
- Department heads
The details of the site visit will be mutually agreed on before the visit.
In same cases this step may be skipped and only the information from the questionnaire is evaluated.
Step 4 Report
After collecting and verifying all information we will provide a comprehensive report with
- Detailed catalog of findings with their connections
- Hidden problem areas
- Un- and underdeveloped revenue generators
- Potential cost savers
- Potential operational threats
- Recommendations for actions
- How to increase revenues
- How to save expenses
- How to improve operation
- How to implement strategic changes
Step 5 Monitor progress (optional)
If you implement new measures, we will monitor progress providing you ongoing input for long term success.
How much does it cost?
The fee for the audit depends very much on its scope and depth and will be determined by individual requirements. In any case the fee is not to be considered an expense but rather an investment which repays in less than 3 months. Guaranteed!
Guarantee
If the findings and recommendations in the report will not help you increae revenues, find savings or implement operational improvements within 3 months we will issue a full refund.
No questions asked.
Pre-assessment
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