Course Overview

1. Procure-to-Pay (P2P) Cycle Audit
This module provides a comprehensive understanding of the Procure-to-Pay process,
focusing on end-to-end audit procedures, internal controls, and risk identification across
procurement and payment functions.
Key areas covered include:
● Procurement Planning & Requisition Controls

Evaluation of demand planning, approval workflows, and control over purchase
requisitions.
● Comparative Statement Review & Analysis
Assessing vendor quotations, bid comparisons, and ensuring transparency and
fairness in selection.
● Purchase Orders & Contract Management
Review of purchase order accuracy, authorization controls, and contract
compliance.
● Vendor Selection, Evaluation & Management
Auditing vendor onboarding, performance evaluation, and ongoing supplier
governance.
● Goods Receipt Note (GRN) Controls & Verification
Verification of goods receipt processes, quantity/quality checks, and
documentation accuracy.
● Invoice Booking & Validation Controls
Ensuring proper invoice matching (3-way matching), validation, and accounting
accuracy.
● Payment Authorization & Monitoring
Reviewing approval hierarchies, payment processing controls, and compliance
with policies.
● System & Automation Controls
Evaluation of ERP controls, workflow automation, and system-based safeguards.
● Data Analytics for P2P Audits
Using data-driven audit techniques to detect anomalies, inefficiencies, and
potential fraud risks.

This module is designed to strengthen understanding of procurement cycle risks,
improve audit efficiency, and enhance control effectiveness in the Procure-to-Pay
process.