An intensive training programme designed to improve the skills of those involved in auditing of upstream Oil/Gas Exploration and Production activities.

An intensive training programme designed to improve the skills of those involved in auditing of upstream oil/gas exploration and production activities. At the end of this course you will have enhanced your understanding of the various audit principles and practices being applied today.You will be able to: • apply a structured methodology for conducting oil industry internal, production sharing and joint venture audits • implement the benefits of a multi-discipline team audit approach • adopt a model of best practice for conducting audits The course concentrates on aspects of auditing unique to the E&P business.

• personnel who are totally new to the discipline of audit, experienced audit practitioners who wish to update their auditing techniques
• personnel from any discipline who intend to take part in internal or joint venture audits
• personnel with a background in statutory audit in the accountancy profession who require an insight into the internal and joint venture audit areas.

Companion courses are Exploration & Production Accounting - Level 1, Exploration & Production Accounting - Level 2 and Exploration & Production Accounting - Level 3.

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, system, or 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

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

Click the button to find out the duration, dates, cost and locations for the course.