/  Auditing in the Oil and Gas Industry Training

Auditing in the Oil and Gas Industry Training

BMC Training provides a training course in Auditing in the Oil and Gas Industry in Finance , Accounting and Budgeting

Course Title
Venue
Start Date
End Date
  • Dubai
    12 - 7 - 2020
    16 - 7 - 2020
  • Paris
    12 - 7 - 2020
    16 - 7 - 2020
  • Hong Kong
    12 - 7 - 2020
    16 - 7 - 2020
  • Dubai
    19 - 7 - 2020
    23 - 7 - 2020
  • Paris
    19 - 7 - 2020
    23 - 7 - 2020
  • Hong Kong
    19 - 7 - 2020
    23 - 7 - 2020
  • Istanbul
    26 - 7 - 2020
    30 - 7 - 2020
  • Bali
    26 - 7 - 2020
    30 - 7 - 2020
  • Singapore
    26 - 7 - 2020
    30 - 7 - 2020
  • Washington
    26 - 7 - 2020
    30 - 7 - 2020
  • Dubai
    26 - 7 - 2020
    30 - 7 - 2020
  • Paris
    26 - 7 - 2020
    30 - 7 - 2020
  • Hong Kong
    26 - 7 - 2020
    30 - 7 - 2020
  • London
    2 - 8 - 2020
    6 - 8 - 2020
  • Madrid
    2 - 8 - 2020
    6 - 8 - 2020
  • Munich
    2 - 8 - 2020
    6 - 8 - 2020
  • Berlin
    2 - 8 - 2020
    6 - 8 - 2020
  • New York
    2 - 8 - 2020
    6 - 8 - 2020
  • Dubai
    9 - 8 - 2020
    13 - 8 - 2020
  • Paris
    9 - 8 - 2020
    13 - 8 - 2020
  • Hong Kong
    9 - 8 - 2020
    13 - 8 - 2020
  • Istanbul
    16 - 8 - 2020
    20 - 8 - 2020
  • Bali
    16 - 8 - 2020
    20 - 8 - 2020
  • Singapore
    16 - 8 - 2020
    20 - 8 - 2020
  • Washington
    16 - 8 - 2020
    20 - 8 - 2020
  • Kuala Lumpur
    23 - 8 - 2020
    27 - 8 - 2020
  • Rome
    23 - 8 - 2020
    27 - 8 - 2020
  • Barcelona
    23 - 8 - 2020
    27 - 8 - 2020
  • Zurich
    23 - 8 - 2020
    27 - 8 - 2020
  • Kuala Lumpur
    27 - 9 - 2020
    1 - 10 - 2020
  • Rome
    27 - 9 - 2020
    1 - 10 - 2020
  • Barcelona
    27 - 9 - 2020
    1 - 10 - 2020
  • Zurich
    27 - 9 - 2020
    1 - 10 - 2020
  • Dubai
    6 - 9 - 2020
    10 - 9 - 2020
  • Paris
    6 - 9 - 2020
    10 - 9 - 2020
  • Hong Kong
    6 - 9 - 2020
    10 - 9 - 2020
  • London
    13 - 9 - 2020
    17 - 9 - 2020
  • Madrid
    13 - 9 - 2020
    17 - 9 - 2020
  • Munich
    13 - 9 - 2020
    17 - 9 - 2020
  • Berlin
    13 - 9 - 2020
    17 - 9 - 2020
  • New York
    13 - 9 - 2020
    17 - 9 - 2020
  • Istanbul
    20 - 9 - 2020
    24 - 9 - 2020
  • Bali
    20 - 9 - 2020
    24 - 9 - 2020
  • Singapore
    20 - 9 - 2020
    24 - 9 - 2020
  • Washington
    20 - 9 - 2020
    24 - 9 - 2020
  • Dubai
    20 - 9 - 2020
    24 - 9 - 2020
  • Paris
    20 - 9 - 2020
    24 - 9 - 2020
  • Hong Kong
    20 - 9 - 2020
    24 - 9 - 2020
  • London
    18 - 10 - 2020
    22 - 10 - 2020
  • Madrid
    18 - 10 - 2020
    22 - 10 - 2020
  • Munich
    18 - 10 - 2020
    22 - 10 - 2020
  • Berlin
    18 - 10 - 2020
    22 - 10 - 2020
  • New York
    18 - 10 - 2020
    22 - 10 - 2020
  • Dubai
    25 - 10 - 2020
    29 - 10 - 2020
  • Paris
    25 - 10 - 2020
    29 - 10 - 2020
  • Hong Kong
    25 - 10 - 2020
    29 - 10 - 2020
  • Istanbul
    4 - 10 - 2020
    8 - 10 - 2020
  • Bali
    4 - 10 - 2020
    8 - 10 - 2020
  • Singapore
    4 - 10 - 2020
    8 - 10 - 2020
  • Washington
    4 - 10 - 2020
    8 - 10 - 2020
  • Kuala Lumpur
    11 - 10 - 2020
    15 - 10 - 2020
  • Rome
    11 - 10 - 2020
    15 - 10 - 2020
  • Barcelona
    11 - 10 - 2020
    15 - 10 - 2020
  • Zurich
    11 - 10 - 2020
    15 - 10 - 2020
  • Kuala Lumpur
    15 - 11 - 2020
    19 - 11 - 2020
  • Rome
    15 - 11 - 2020
    19 - 11 - 2020
  • Barcelona
    15 - 11 - 2020
    19 - 11 - 2020
  • Zurich
    15 - 11 - 2020
    19 - 11 - 2020
  • Dubai
    22 - 11 - 2020
    26 - 11 - 2020
  • Paris
    22 - 11 - 2020
    26 - 11 - 2020
  • Hong Kong
    22 - 11 - 2020
    26 - 11 - 2020
  • London
    1 - 11 - 2020
    5 - 11 - 2020
  • Madrid
    1 - 11 - 2020
    5 - 11 - 2020
  • Munich
    1 - 11 - 2020
    5 - 11 - 2020
  • Berlin
    1 - 11 - 2020
    5 - 11 - 2020
  • New York
    1 - 11 - 2020
    5 - 11 - 2020
  • Istanbul
    8 - 11 - 2020
    12 - 11 - 2020
  • Bali
    8 - 11 - 2020
    12 - 11 - 2020
  • Singapore
    8 - 11 - 2020
    12 - 11 - 2020
  • Washington
    8 - 11 - 2020
    12 - 11 - 2020
  • Dubai
    8 - 11 - 2020
    12 - 11 - 2020
  • Paris
    8 - 11 - 2020
    12 - 11 - 2020
  • Hong Kong
    8 - 11 - 2020
    12 - 11 - 2020
  • London
    20 - 12 - 2020
    24 - 12 - 2020
  • Madrid
    20 - 12 - 2020
    24 - 12 - 2020
  • Munich
    20 - 12 - 2020
    24 - 12 - 2020
  • Berlin
    20 - 12 - 2020
    24 - 12 - 2020
  • New York
    20 - 12 - 2020
    24 - 12 - 2020
  • Dubai
    27 - 12 - 2020
    31 - 12 - 2020
  • Paris
    27 - 12 - 2020
    31 - 12 - 2020
  • Hong Kong
    27 - 12 - 2020
    31 - 12 - 2020
  • Istanbul
    13 - 12 - 2020
    17 - 12 - 2020
  • Bali
    13 - 12 - 2020
    17 - 12 - 2020
  • Singapore
    13 - 12 - 2020
    17 - 12 - 2020
  • Washington
    13 - 12 - 2020
    17 - 12 - 2020
  • Kuala Lumpur
    6 - 12 - 2020
    10 - 12 - 2020
  • Rome
    6 - 12 - 2020
    10 - 12 - 2020
  • Barcelona
    6 - 12 - 2020
    10 - 12 - 2020
  • Zurich
    6 - 12 - 2020
    10 - 12 - 2020

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

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