The Auditing of Projects and Contractors training course provides a thorough understanding of the audit planning process and how to effectively execute audits of projects and contractors to meet established audit objectives.
This Energy training course is designed to equip participants with essential skills such as conducting project risk assessments, understanding the risks associated with contractors, and creating a well-structured audit program. By applying these skills, participants will be able to conduct a thorough audit, gather sufficient evidence to form an audit opinion, and report and implement their findings effectively.
Participants in this Auditing of Projects & Contractors training course will develop the following competencies:
- Conducting project and contractor risk assessments.
- Using audit planning to define the scope of the audit process.
- Implementing a detailed audit program.
- Communicating audit findings effectively.
This Auditing of Projects & Contractors training course is designed to help participants achieve the following objectives:
- Comprehending the integration of projects and contractors.
- Learning techniques for conducting project risk assessments.
- Understanding how audit planning influences the audit process.
- Gaining the skills necessary to audit projects and contractors effectively.
- Developing management skills for overseeing the audit process.
- Formulating audit findings to ensure their successful implementation.
- Using project audits to enhance project efficiency and outcomes.
The Auditing of Projects and Contractors training course is delivered as a hierarchy of related but separate modules and proceeds in a systematic interactive manner using lectures, lessons learned, practical examples, video materials, case studies, shared participant experiences and practice sessions and assessments. Participants will partake in group activities as well as individual exercises.
- Financial Managers who wish to broaden their scope of understanding of the audit of projects and contracts
- Project Managers who will benefit from understanding the risk assessment and audit process in order to improve project outputs
- Internal Auditors who wish to develop their technical skills and compliance
- External Auditors who are involved in interim audits or agreed upon procedures
- Accounting Professionals who wish to improve their career opportunities
- Any key stakeholder in the implementation of material projects
Day One: Overview of Projects and Contractors
- Overview of the project management process
- Project activities and lifecycle
- Key players within projects
- Basic terminology of project management
- Understanding the procurement process
- Scope of contractors in the project
- Compliance background
Day Two: Risks and Objectives of the Audit
- Project assurance
- Definition of the project audit
- Objectives of the project audit
- Benefit of the audit
- Users of the audit
- Principles of the project audit
- Risks and responses of projects
- Risk and responses of contractors
Day Three: Project Audit Process and Planning
- Process of the project audit:
- Preparatory phase
- Performance phase
- Evaluation / analytical phase
- Conclusion phase
- Pre-engagement planning
- Risk assessment
- Review of resources
- Overview of audit methodology
Day Four: Audit Methodology
- Audit methodology according to individual phases and areas
- “Project initiation” phase
- The “Project proposal” phase
- The “Project planning” phase
- The “Project realisation” phase
- The “Project completion” phase
- Behavioural competence
- Overall evaluation
- Basic audit structure
- Audit of procurement process
- Audit of engagement with contractors
Day Five: Audit Implementation and Reporting
- Practical implementation of the audit process
- Common issues of the process
- Ethical considerations
- Dealing with stakeholders
- Application of resources
- Writing the audit report
- Audit report content
- Presenting / implementing audit report
- Implementation of best practices
