Vadilal Industries Internal Auditor Interview Questions and Answers

Purchase to pay process is the cycle of activities from procurement to payment of goods or services.

• Procurement of goods or services

• Receiving and verifying the goods or services

• Matching the invoice with the purchase order and goods receipt

• Approval of the invoice

• Payment to the supplier

• Recording the transaction in the accounting system

• Periodic review of the process for improvement

• Example: A company orders office supplies...read more

DOA stands for Delegation of Authority. It is a document that outlines the level of authority and responsibility of an individual within an organization.

• DOA is prepared by identifying the roles and responsibilities of individuals within an organization

• It should clearly define the limits of authority for each individual

• DOA should be reviewed and updated regularly to ensure it remains relevant

• SOP stands for Standard Oper...read more