Topics: Internal control, Auditing, Internal audit Pages: 5 (981 words) Published: March 19, 2013

Fontana Leisure Parks is a getaway and events place located in a 300-hectare property within the Clark Special Economic Zone at Clarkfield Pampanga, just 80 kilometers north of Manila. It was conceptualized to provide an accessible perfect getaway for city dwellers who seek relaxation, privacy and at the same time enjoy the company of their, family, friends, or colleagues. Fontana has the facilities to cater to all kinds of events. Fontana is well prepared to host corporate team buildings, meetings, seminars, debuts, birthdays, reunions. Fontana is always eager to welcome guests. Companies and celebrators will find Fontana’s amenities complete and suitable for whatever needs they have.

History and Development:

* March 1996: start of business

* May 1996: housing complex and old clubhouse building

* September 1996: resort and facilities

* June 1998: golf course and restaurants

* August 2004: casino business

* September 2007: new clubhouse building

* November 2009: hot spring facilities

A. Name and General Location

Fontana Hot Spring and Leisure Parks
C.M. Recto Highway, Clark Freeport Zone 2023, Pampanga, Philippines Map

B. Objective/Institution`s Philosophy

Company Vision

To be the preferred choice of customers, employees, and business partners.

Company Mission

We are a prime hotel and resort in Clark Freeport, Pampanga providing world-class luxury accommodations, entertainment, fine dining, and event venues to local and foreign customers all year round. Company Philosophy

Genuine hospitality from sincere and caring employees.

C. Owner/Management

Fontana Hot Spring and Leisure Parks is owned by Mr. Jack Lam.

D. Organizational Chart

Hotel Position Descriptions

Board of Directors – The governing body elected by the stockholders that exercises the corporate power of a corporation, conducts all its business and controls its properties.

Management – The body given the authority by the board of directors to implement the policies it has to lay down in the conduct of the business of the corporation

Executive Director – A director who is also the head of a department or unit of the corporation or performs any work related to its operation.

Non Executive Directors – A director who is not the head of a department or unit of the corporation nor performs any work related to its operation.

Non Audit Work – The other services offered by an external auditor to a corporation that are not directly related and relevant to its statutory audit functions, such as accounting, payroll, bookkeeping, Reconciliation, computer project management, data processing or information technology, outsourcing services, internal audit and other services that may compromise the independence an objectivity of an external auditor.

Internal Control – The system established by the board of directors and management for the accomplishment of the corporation’s objectives, the efficient operation of its business, the reliability of its financial reporting ang faithful compliance with applicable laws, regulations and internal rules.

Internal Control System – The framework under which internal controls are developed and implemented (alone or in concert with other policies or procedures) to manage and control a particular risk or business activity or, combination to risks or business activities, to which the corporation is exposed.

Internal Audit – An independent and objective assurance activity designed to add value to and improve the operation’s, and help it accomplish its objectives by providing systematic and disciplined approach in the evaluation and improvement of the effectiveness of risk management, control and governance processes.

Internal Audit Department – A department orunit of the corporation and its consultants, if any, that provide independent and objective assurance services in order to add value...
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