Auditing of Projects and Contractors course by

INTRODUCTION

Auditing of Projects and Contractors is a comprehensive training course that will help you to understand the audit planning process and the subsequent execution of the audit of projects and contractors in order to meet the determined audit objectives.

This EuroMaTech training course seeks to provide you with skills such as project risk assessment, appreciating the scope of risk associated with contractors and formulating a well-designed audit program. By applying these skills, you will be able to perform a comprehensive audit and obtain sufficient audit evidence to formulate an audit opinion and to report and implement your findings.

Participants attending the Auditing of Projects and Contractors training course will develop the following competencies:

Doing a project and contractor risk assessment
Using audit planning to determine scope of the audit process
How to implement a detailed audit program
Effective communication of audit findings

WHO SHOULD ATTEND?

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

PROGRAMME OBJECTIVES

This Auditing of Projects and Contractors training course aims to enable participants to achieve the following objectives:

Understanding the integration of projects and contractors
Techniques for project risk assessment
Appreciating how audit planning impacts audit process
Skills to conduct the audit of projects and contractors
Development of management skills in audit process
Formulation of audit findings for effective implementation
How to use project audit to improve project efficiency and outputs

TRAINING METHODOLOGY

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.

PROGRAMME SUMMARY

This comprehensive EuroMaTech training course will enable each participant to appreciate and understand the concepts and certain complexities associated with the audit of projects and contractors along with topic terminology, concepts and applications.

PROGRAM OUTLINE

Day 1: - 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 2: - 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 3: - 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 4: - 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