An Intensive 5-day Training Course
Auditing in the Oil & Gas Industry
Develop Expertise in Auditing Practices to Improve Safety, Compliance, and Performance in Oil & Gas
CLASSROOM DATES
INTRODUCTION
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 EuroMaTech training course on Auditing in the Oil & Gas Industry 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. >Explore: Finance & Budgeting Training Courses
During this EuroMaTech training course, 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
TRAINING 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
WHO SHOULD ATTEND?
- External auditors dealing with oil and gas companies or those considering moving into such roles
- Internal auditors who work within oil and gas companies
- Management and Financial staff within such organisations that deal with the external audit process or who would like a better understanding of how the auditors go about their work
TRAINING METHODOLOGY
This Auditing in the Oil & Gas Industry training course uses training methods chosen to ensure effective learning, to reinforce understanding, to develop practical skills to promote critical evaluation of information. Interest is maintained throughout each session by use of a variety of formats, including:
- Lively and informative presentations
- Quizzes
- Case studies based on real life scenarios
- Role play exercises to develop important and effective “people skills” necessary to be an effective and efficient auditor
TRAINING SUMMARY
This EuroMaTech training course is aimed at those involved with auditing within the oil and gas industry. Not only does it cover many of the particular external audit considerations within the industry from the perspective of ensuring that the financial statements of oil and gas companies are fairly stated it also covers specific internal audit considerations too.
TRAINING OUTLINE
Day 1 : 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 2 : 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 3 : 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 4 : Reserves, Financial Instruments and other Issues
- Auditing Oil and Gas Reserves
- Relying on the Work of Experts
- Financial Instruments
- Other Auditing Issues
Day 5 : 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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ACCREDITATION
EuroMaTech is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.
Euromatech is a Knowledge & Human Development Authority (KHDA) approved training institute in Dubai, licensed and approved to deliver training courses in the UAE.
The KHDA is the regulatory authority in the UAE, that oversees administering, approving, supervising, and controlling the activities of various education providers in the UAE. We are proud of our commitment to ensuring quality training courses and status as a KHDA-approved training provider.
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FAQ
What makes EuroMaTech a leader in professional training?
EuroMaTech stands out as a leader in training and professional development due to:
- 30+ years of experience delivering high-impact training courses across industries.
- Accreditations from leading institutions, ensuring top-tier course quality and recognition.
- A portfolio of thousands of training courses, serving professionals at every level.
- A focus on innovation and future-ready learning models, including blended and digital training.
- Long-term partnerships with organizations globally, ensuring sustained success through talent development.
How can I register for a EuroMaTech training course?
To register for a training course, you can:
- Visit the EuroMaTech website, browse the available courses, and follow the online registration process.
- Contact EuroMaTech’s support team for assistance with course selection or inquiries about corporate training solutions.
Does EuroMaTech offer international training courses?
Yes, EuroMaTech delivers training courses in major cities worldwide, including locations across Europe, Asia, Africa, and the Middle East, in addition to its extensive presence in Dubai.
Where are EuroMaTech’s training courses held?
EuroMaTech conducts its training courses at prestigious venues across Dubai and other major international cities. Additionally, virtual training options are available, allowing participants to join courses remotely from anywhere in the world.
What ISO training courses does EuroMaTech offer?
EuroMaTech provides a range of ISO certification and compliance training courses, including:
- ISO 9001 – Quality Management Systems Training
- ISO 45001 – Occupational Health & Safety Management Training
- ISO 14001 – Environmental Management Systems Training
These courses help organizations adopt internationally recognized standards and improve their overall performance.
How does EuroMaTech ensure the quality of its training courses?
EuroMaTech ensures the highest standards by:
- Partnering with globally recognized accrediting bodies such as ILM, CPD, PMI, NEBOSH, and HRCI.
- Designing training courses with a focus on practical, real-world applications.
- Using experienced instructors with industry expertise.
- Continuously updating course content to reflect current trends and best practices.
Does EuroMaTech provide customized corporate training courses?
Yes, EuroMaTech specializes in tailored corporate training courses designed to meet the unique needs of organizations. These customized courses are ideal for businesses seeking to upskill teams across different departments or regions.
How many professionals have attended EuroMaTech’s training courses?
EuroMaTech has successfully delivered thousands of training courses, with thousands of professionals from over 50 countries attending annually.
What industries does EuroMaTech serve through its training courses?
EuroMaTech provides specialized training courses for a wide range of industries, including:
- Oil & Gas
- Energy & Power
- Construction & Infrastructure
- Banking & Finance
- Healthcare
- Telecommunications
- Logistics & Supply Chain
- Aviation & Aerospace
- Government & Public Sector
- Hospitality & Tourism
- Information Technology & Cybersecurity
- Human Resources & Talent Management
Are EuroMaTech’s training courses accredited?
Yes, EuroMaTech’s training courses are accredited by globally recognized institutions, ensuring high-quality, internationally respected certifications. Key accreditations include:
- ILM (Institute of Leadership & Management)
- CPD (Continuing Professional Development Certification Service)
- PMI (Project Management Institute)
- NEBOSH (National Examination Board in Occupational Safety and Health)
- HRCI (Human Resource Certification Institute)
What types of training courses does EuroMaTech offer?
EuroMaTech offers a diverse portfolio of training courses designed to meet the needs of professionals at all levels. These include:
- Leadership & Management Development Training
- Technical & Engineering Training Courses
- Project & Risk Management Training
- Health, Safety & Environmental (HSE) Training
- Finance & Accounting Training Courses
- ISO Compliance & Certification Training
- Human Resources & Talent Management Training
- Soft Skills & Communication Training Courses
Do you provide assistance with hotel accommodation?
Yes, we can assist you with the following:
- Corporate Discount: If available, we can extend our corporate discount for your stay at selected hotels.
- Hotel Suggestions: We can provide recommendations for nearby hotels based on your preferences and budget.
Feel free to explore online booking platforms for the most cost-effective options.
Do you offer customized training for organizations?
Yes, we provide tailored training solutions designed to meet the specific needs of your organization. Customized courses can be delivered either in-person or online, and you can select the dates and duration that best fit your schedule. For more details, please contact us at inhouse@euromatech.com
What types of training formats do you offer?
We provide two flexible training formats to suit your preferences:
- Classroom Training: Experience in-person learning with expert instructors. Engage in interactive discussions, hands-on activities, and benefit from face-to-face networking.
- Online Training: Join live online sessions from anywhere, offering flexibility for those with busy schedules or who prefer remote learning.
- In-House Training: We can bring our training directly to your organization, allowing for tailored sessions that address your specific needs and objectives.
Can you assist with visa arrangements?
Yes, we can help by issuing an official Letter of Invitation once you’ve confirmed your training registration, which can assist in your visa application process.
Who will be the senior consultant leading the training?
We are happy to share the profiles of our expert instructors. To learn more about their qualifications and experience, please contact us info@euromatech.com
