Auditing in the E&P Industry

-        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

• Origins and purpose of audit
• Audit types
• Independence - its application in different types of audit
• Controls – objectives of controls and their application
• Risk assessment – techniques to determine audit priorities
• 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
• Developing a model of internal best practice
• Contract audits
• Background
• Key aspects of 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