Auditing in the Oil and Gas Industry


Ref.
Sart
End
Fees
Venue
Length
FBA121
6-Jan-2019
10-Jan-2019
6950$
Paris (France)
One Week

Intorduction

International Standards on Auditing (ISAs) developed by The International Auditing and Assurance Standards Board (IAASB) are being adopted by more and more countries and now represent the main global auditing standards.

The audit considerations in this programme will focus on ISA requirements and target audit risk areas that are pertinent to the audit of the financial statements of oil and gas companies.

This highly interactive programme focuses on the correct application of the ISAs and common auditing issues that occur regularly in practice. In order to make the programme as practical as possible it includes formal presentations, quizzes, case studies and role play exercises so that “essential people skills” are improved along with the technical knowledge.  During this programme, you will learn how to:

  • Audit the main risk areas in oil and gas companies
  • Consider the impact of fraud in such companies and devise controls and tests for the prevention and detection of fraud
  • Plan, conduct and conclude an external audit in the most efficient way whilst gaining valuable insights into audit related issues in all areas of the audit file for oil and gas companies
  • Understand the requirements of International Standards on Auditing (ISAs) and specifically how they impact on the audit of oil and gas companies.
  • Set up an effective internal audit function in such companies
  • Improve your technical and “soft skills” such as communication skills, dealing with conflict and working as part of a team. This will be through role plays, quizzes and case studies

Objectives

  • Understand the role of the external and internal auditor and the confidence they give to investors in oil and gas companies
  • Understand how oil and gas companies work and the associated risks connected with such companies
  • Understand the importance of communication with the client, the audit team and possibly with regulators in a whistle-blowing situation
  • Understanding how fraud can impact on an audit and the auditors responsibilities in this respect
  • Gain a thorough understanding of the fieldwork required in all areas of the audit file and typical problems and issues
  • Understand the audit completion process
  • Understand how the audit opinion is derived and communicated along with weaknesses found during the audit process

Day One

Understanding Oil and Gas Companies

  • Oil and Gas Companies – understanding the industry and the risks
  • Oil and gas value chain and significant accounting issues
  • Upstream, midstream and downstream activities
  • Laws and Regulations
  • Emerging Risk Areas

Day Two

Revenue, Joint Ventures and Reserves

  • Revenue recognition – contracts
  • Auditing shutdown management
  • Auditing Joint Ventures
  • Auditing outsourced operations
  • Due diligence programs on third parties
  • Reserves reporting issues

Day Three

Fraud, Impairment and Provisions

  • Fraud, fraud prevention and detection
  • Procurement issues
  • An effective internal audit function in oil and gas companies
  • Operational audits
  • Decommissioning and environmental provisions
  • Non-current assets and impairment

Day Four

Reserves, Financial Instruments and other Issues

  • Auditing oil and gas reserves
  • Relying on the work of experts
  • Financial Instruments
  • Other auditing issues

Day Five

Corporate Governance, Internal Controls and Audit Reports

  • Governance issues
  • Sarbanes Oxley
  • External and Internal Audit Reports
  • Corporate Boards – perspective on risk and compliance issues

Get more details about this training !

Register Request

Choose the course date which you would like to attend your course on ...


Ref.
Sart
End
Fees
Venue
Length
FBA121
6-Jan-2019
10-Jan-2019
5700$
Istanbul (Turkey)
One Week
FBA121
25-Mar-2018
29-Mar-2018
5700$
Istanbul (Turkey)
One Week
FBA121
27-May-2018
31-May-2018
5700$
Istanbul (Turkey)
One Week
FBA121
22-Jul-2018
26-Jul-2018
5700$
Istanbul (Turkey)
One Week
FBA121
16-Sep-2018
20-Sep-2018
5700$
Istanbul (Turkey)
One Week
FBA121
11-Nov-2018
15-Nov-2018
5700$
Istanbul (Turkey)
One Week
FBA121
27-Jan-2019
31-Jan-2019
4700$
Dubai (UAE)
One Week
FBA121
18-Mar-2018
22-Mar-2018
4700$
Dubai (UAE)
One Week
FBA121
13-May-2018
17-May-2018
4700$
Dubai (UAE)
One Week
FBA121
1-Jul-2018
5-Jul-2018
4700$
Dubai (UAE)
One Week
FBA121
23-Sep-2018
28-Sep-2018
4700$
Dubai (UAE)
One Week
FBA121
18-Nov-2018
22-Nov-2018
4700$
Dubai (UAE)
One Week
FBA121
17-Feb-2019
21-Feb-2019
4700$
Kuala Lumpur (Malaysia)
One Week
FBA121
8-Apr-2018
12-Apr-2018
4700$
Kuala Lumpur (Malaysia)
One Week
FBA121
3-Jun-2018
7-Jun-2018
4700$
Kuala Lumpur (Malaysia)
One Week
FBA121
5-Aug-2018
9-Aug-2018
4700$
Kuala Lumpur (Malaysia)
One Week
FBA121
7-Oct-2018
11-Oct-2018
4700$
Kuala Lumpur (Malaysia)
One Week
FBA121
23-Dec-2018
27-Dec-2018
4700$
Kuala Lumpur (Malaysia)
One Week
FBA121
10-Feb-2019
14-Feb-2019
7500$
London (UK)
One Week
FBA121
1-Apr-2018
5-Apr-2018
7500$
London (UK)
One Week
FBA121
24-Jun-2018
28-Jun-2018
7500$
London (UK)
One Week
FBA121
19-Aug-2018
23-Aug-2018
7500$
London (UK)
One Week
FBA121
14-Oct-2018
18-Oct-2018
7500$
London (UK)
One Week
FBA121
2-Dec-2018
6-Dec-2018
7500$
London (UK)
One Week
FBA121
25-Mar-2018
29-Mar-2018
6950$
Paris (France)
One Week
FBA121
27-May-2018
31-May-2018
6950$
Paris (France)
One Week
FBA121
22-Jul-2018
26-Jul-2018
6950$
Paris (France)
One Week
FBA121
16-Sep-2018
20-Sep-2018
6950$
Paris (France)
One Week
FBA121
11-Nov-2018
15-Nov-2018
6950$
Paris (France)
One Week
How Can I Register for a Training Course?

There are three easy ways to make a registeration:

  • Register Online: Choose the course you would like to register for, Click the “REGISTER” link in the course outlines and then complete the form.
  • E-mail: Send the course details (Course Title , Course Date and Course Venue) and your company details (Company Name , Company Phone , Company Address and Company email) to Training@Oxygentraining.org
  • Telephone: Please call +44 20 8720 7333.
When should I expect to receive the confirmation file?

When we receive your registration request, we will send you the following by e-mail:

  • Confirmation File
  • Invoice File
How and When do I arrange payment?

Payment must be received before the training starts. You can make payment by wire transfer or cash.

Note: If the payment is not received before the training , Oxygen has the right to cancel your registration at any time.

What is included in the fees?

The fees for all training courses cover all materials, lunch , refreshments and airport transportation.

How can I cancel my registation?

Request for training course cancellation must be made received by Oxygen three weeks prior to the training course start date. A USD 300.00 processing fee will be charge per delegate for each cancellation. Thereafter, we regret that we are unable to refund any fees due.


auditing oil gas industry