Have you had any experience in internal audit? explain process of PTP

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Yes

PTP stands for Procure-to-Pay, which is a process in internal audit.
It involves the entire cycle of purchasing goods or services, from requisition to payment.
The process typically includes steps like purchase requisition, purchase order, goods receipt, invoice verification, and payment.
Internal auditors ensure that the PTP process is efficient, compliant with policies and procedures, and free from fraud or errors.
They review documentation, perform testing, and provide recommendations for improvement.
For example, an internal auditor may review purchase orders to ensure they are properly authorized and supported by appropriate documentation.
They may also verify that goods received match the purchase order and invoice, and that payments are made accurately and timely.
Overall, the PTP process in internal audit aims to ensure transparency, accountability, and control over the organization's procurement and payment activities.

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