Procure to Pay cycle - a practical way to understand and audit the process easily.
Three years ago after clearing my CA Final examinations, I was desperately searching for some practical reference material and guidance for Internal Audits relevant for India. Lots of information is available on the internet but practical experiences and tips were what I was looking for.
I have shared Complete process from purchasing till Payment in Hinglish for your reference.
We hope that it would be useful for freshers who want to apply for jobs in this role or want to increase their knowledgebase.
00:00 Introduction
01:01 Budgeting
07:04 Purchase Requisition and approvals
08:36 RFQ, Bid comparison and vendor selection (including fraud risks)
18:47 Contracting / Purchase Order (PO)
22:02 Goods Receipt (GRN), Invoice Processing and Payment
29:50 Tips for good audit observations
34:14 P2P process observations
40:13 Conclusion
Contact: +91 9990560436 (Gaurav)
LinkedIn:
Gaurav Goel: [ Ссылка ]
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