Oil, Gas and Petrochemical Internal Audit College

Description

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 delegates gain confidence in the techniques presented and in their own ability to use them. Report writing is also explored to help delegates not only to understand who Internal Audit's stakeholder's are but to help delegates to get their messages across clearly and concisely. Delegates 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 delegates 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. Delegates 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 delegates will gain the knowledge and confidence to employ their new skills back in the workplace. Exercises will be provided as appropriate.