Procurement Process and Internal Controls

Procurement Process & Internal Controls

Why Procurement?
- Majority of the accounting transactions stem from procurement
- You understand procurement, you understand the transactions
- Robust procurement process, seamless accruals posting
- Adequate procurement controls, reliable transactions
- Reliable transactions, reliable financial reporting

Have you noticed the numerous touchpoints between accounting transactions and procurement?

That is why having a solid grasp of the procurement process can lead to better control over financial transactions.

You can only improve a process by having a thorough understanding of it.

Let's prioritize our understanding of procurement processes and internal controls for more accurate and reliable financial reporting.

Here's what is included:

✅ 7 Procurement Internal Controls
✅ Sourcing Process - Source to Pay (S2P)
✅ Procurement Process - Procure to Pay (P2P)
✅ Segregation of Duties within the process

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