Auditing in the Exploration & Production Industry

Learn more Date of Training
31 Mar 2019

This is an intensive 5 day training programme designed to improve and enhance the skills of personnel involved in auditing upstream exploration and production activities, concentrating on aspects of auditing that are unique to this industry.

What you will learn

  • how to apply a structured methodology for conducting oil industry internal, production-sharing and joint-venture audits
  • how to implement the benefits of a multi-discipline team audit approach
  • how to adopt a model of best practice for conducting audits
  • how to apply a risk-based approach to audit
  • how to investigate fraud

Training method

Extensive use is made of realistic oil industry-based exercises and case studies to reinforce key teaching points and to provide delegates with opportunities to apply the knowledge gained in a practical and enjoyable format.

35 hours CPD accreditation


  • Origins and purpose of audit
  • Audit types

Audit concepts

  • Independence - its application in different types of audit
  • Controls - objectives of controls and their application
  • Risk assessment - techniques to determine audit priorities

Audit techniques

  • Audit preparation and planning - to ensure an effective audit
  • Testing/sampling -techniques to verify accounts and controls
  • Interviewing techniques
  • Flowcharting techniques and their application
  • Reporting
  • Team management - to ensure resources are used effectively

Internal audit

  • Developing a model of internal best practice
  • Contract audits
  • COPAS AG - 9 & 11

Production-sharing contracts audit

  • Background
  • Key aspects of audit

Joint-venture 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

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Date of Training

31 Mar 2019

trainingAuditupstreamexplorationProductionoil industryadvanced trainingdevelopmentknowledgeproduction sharingjoint venturejoint-venture audit

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