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Auditing in the Exploration & Production Industry (FIN05)

  • 7-11 August 20175 daysVienna, AustriaCourse Fee: 3200 EUR + VAT

Description

This is an intensive training program designed to improve and enhance the skills of participants involved in auditing upstream exploration and production activities, concentrating on aspects of auditing that are unique to this industry.

Course Level: Intermediate
Instructor: Matilde Giulianelli

Designed for you, if you are...

  • New to the discipline of audit
  • An experienced audit practitioner who wishes to update your auditing techniques
  • From any discipline intending to take part in internal or joint-venture audits
  • Someone with a background in statutory audit in the accountancy profession wanting an insight into internal and joint-venture audits

How we build your confidence

Extensive use is made of realistic oil industry-based exercises and case studies to reinforce key teaching points and to provide participants with opportunities to apply the knowledge gained in a practical and enjoyable format.

The benefits from attending

By the end of the course you will feel confident in your understanding of:

  • How to apply a structured methodology for conducting oil industry internal, production-sharing and joint-venture audits
  • How to implement the benefits of a multi-discipline team audit approach
  • How to adopt a model of best practice for conducting audits
  • How to apply a risk-based approach to audit
  • How to investigate fraud

Topics

  • Introduction
    - Origins and purpose of audit
    - Audit types
  • Audit concepts
    - Independence - its application in different types of audit
    - Controls - objectives of controls and their application
    - Risk assessment - techniques to determine audit priorities
  • Audit techniques
    - Audit preparation and planning - to ensure an effective audit
    - Testing/sampling - techniques to verify accounts and controls
    - Interviewing techniques
    - Flowcharting techniques and their application
    - Reporting
    - Team management - to ensure resources are used effectively
  • Internal audit
    - Developing a model of internal best practice
    - Contract audits
    - COPAS AG - 9 & 11
  • Production-sharing contracts audit
    - Background
    - Key aspects of audit
  • Joint-venture audit
    - Developing a model of joint-venture audit best practice
    - The audit cycle - planning, implementation, results, reporting
    - Joint-venture accounting and the major audit issues that arise
    - Multi-venture audits
    - UKOOA SOAP 2

Customer Feedback

"The course was excellent; the real-life based exercises helped me a lot, and can be used in our future JV audit. This will give me more confidence in participating in the JV audit team, as it will enable me to apply a lot of gained techniques." - Mitsui E&P Middle East
"The trainer demonstrated an impressive knowledge about the oil & gas industry coupled with really practical examples. Excellent trainer who is very interactive with good communication skills and an excellent personality. I really enjoyed this course, full of knowledge sharing and interaction between the trainer & team." - Mitsui E&P Middle East


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