Who This Is For: 

• Manufacturing and trading businesses with high procurement spend
• Organizations concerned about vendor fraud or duplicate payments
• Businesses with decentralized purchasing needing tighter controls
• Companies seeking cost savings in procurement

P2P Audit Sub-Components: 

a. Vendor Management Audit:

•  Vendor master file accuracy and completeness
• Duplicate vendor identification
• Vendor banking detail verification
• New vendor approval process
• Dormant and blacklisted vendor controls

b. Procurement Controls Audit:  

• Procurement policy compliance
• Requisition approval authority levels
• Budget availability checking before commitment
• Competitive tendering compliance
• Single-source procurement justification

c. Purchase Order Audit: 

• PO issuance authorization
• Pricing accuracy vs. approved contracts
• PO amendment process controls
• Open PO aging and cleanup
• PO vs. budget variance

d. Goods Receipt Audit: 

• Three-way match testing (PO, GRN, Invoice)
• Receipt vs. ordered quantity verification
• Quality inspection procedures
• Returns to supplier process
• Receiving dock controls

e. Vendor Invoice Audit:

• Invoice completeness and accuracy
• Duplicate invoice identification
• Invoice matching to PO and GRN
• Invoice dispute resolution process
• Statement reconciliation with vendors

f. Payment Controls Audit: 

• Payment authorization levels
• Payment method selection (bank transfer vs. cash)
• Duplicate payment detection
• Discount capture on early payment terms
• Bank statement to payment run reconciliation

What We Deliver: 

• Process flowcharts (current state)
• Spend analysis by category and vendor
• Duplicate payment register
• Control gap matrix with severity ratings
• Savings opportunity quantification
• P2P improvement roadmap 

Typical Findings:

• Duplicate vendor records leading to split invoice risk
• Payments made without complete three-way match
• Early payment discounts not captured (often 1-2% of spend)
• Procurement bypassing approved vendor lists
• Approval authority not matching policy