Auditing in the exploration and production industry

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Course Objectives

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

What you will learn

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

Training method

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

Who Should Attend?

personnel who are 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 want insights into internal and joint-venture audits

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Course Content Summary

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

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Location	Duration	Dates	Cost (GBP)	Venue
Kuala Lumpur	5 days	27.05.13 - 31.05.13	£3,050.00	The Ritz-Carlton	Book Now
London	5 days	01.07.13 - 05.07.13	£3,050.00 + vat = £3,660.00	etc.venues - Paddington	Book Now
Dubai	5 days	29.09.13 - 03.10.13	£3,050.00	Towers Rotana	Book Now
Kuala Lumpur	5 days	04.11.13 - 08.11.13	£3,050.00	The Ritz-Carlton	Book Now
London	5 days	16.12.13 - 20.12.13	£3,050.00 + vat = £3,660.00	etc.venues - Paddington	Book Now

“It is essential for every accounts staff in the E&P industry it has greatly enriched my knowledge of E&P Accounting.”
Chinwuba Chukwuka - Addax Petroleum, Nigeria