Oil, Gas and Petrochemical Internal Audit College
Learn the practical and valuable guidance on risk-based operational auditing.
The five day course is tailored specifically for oil, gas and petrochemical companies provides practical and valuable guidance on risk based operational auditing. It teaches participants how to identify and prioritise the risks and assess the efficiency, effectiveness and economics of both core and non core business processes providing practical exercises to help participants gain confidence in the techniques presented and in their own ability to use them. Report writing is also explored to help participants not only to understand who Internal Audit's stakeholder's are but to help participants to get their messages across clearly and concisely. Participants are given the opportunity to provide examples from their workplace for review and discussion.
Auditing non core activities often proves more difficult to audit because the associated risks to business objectives are often less well known. Auditing major contracts, for example turnaround (shutdown ) contracts, and outsourced operations are explored in detail to provide participants with insights from practical experience on where the efficiency, effectiveness and value might not be realised as well as highlighting key areas to focus on to ensure that key risks are being appropriately managed and the risk of fraud minimised. Participants are provided with the opportunity to review the challenges for Internal Audit in its approach to and involvement with risk management and the role internal audit can play in facilitating risk management within their organisations.
Participants will learn the benefits that risk based auditing can have in focusing auditing effort on the key risks that threaten the achievement of business objectives and how to reflect and prioritise risk in their audit reports. Both aspects of risk, threats and opportunities, are covered. Through participating in discussions, exchanging ideas and reviewing case studies of real life examples from their industries participants will gain the knowledge and confidence to employ their new skills back in the workplace. Exercises will be provided as appropriate.
Why attend this course?
- Learn the benefits that risk-based auditing can have
- Master how to focus auditing efforts on the key risks that threaten the achievement of business objectives
- Ensure that you are reflecting and prioritising risk in audit reports and aligning them with enterprise risk
- Aspects of risk, threats and opportunities will be covered
In light of COVID-19, this provider is now delivering some or all of their courses online. Contact them for more information!
Who should attend?
The five day course is tailored specifically for oil, gas and petrochemical companies.
Day One: Course Introduction and Overview
- Session 1: Setting the scene - internal auditing today
- Session 2: Understanding risk management and risk-based auditing
- Session 3: Auditing the Procurement Function
- Session 4: Auditing inventory management
- Session 5: Auditing major contracts
- Session 6: Auditing turnaround (shutdown) contracts
- Session 7: Auditing governance and ethics
- Session 8: Auditing Health, Safety and Environmental Management Systems
- Session 9: Audit Report Writing
- Session 10: Auditing projects
- Session 11: Auditing joint ventures
- Session 12: Auditing Outsourced operations
Please get in touch for the full course agenda.
Certification / Credits
MISTI Certificate and 40 CPE points.
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