Auditing in the oil and gas industry requires a deep understanding of complex operations, high-value assets, regulatory frameworks, and significant health, safety, and environmental risks. This course provides participants with the knowledge and practical skills required to plan, execute, and report audits specific to upstream, midstream, and downstream oil and gas operations.
The program focuses on industry-specific risks, internal controls, compliance requirements, and best practices, enabling auditors to add value, ensure governance, and support risk management in oil and gas organizations.
- Internal and External Auditors
- Risk and Compliance Professionals
- Finance and Accounting Professionals
- HSE Auditors and Inspectors
- Operations and Asset Integrity Auditors
- Professionals involved in assurance, governance, and control functions
To equip participants with the auditing knowledge, tools, and industry-specific insights required to effectively audit oil and gas operations while ensuring compliance, risk mitigation, and operational excellence.
By the end of this training course, participants will be able to:
- Understand the structure and operations of the oil and gas industry
- Identify key risks specific to upstream, midstream, and downstream activities
- Plan and conduct effective audits in oil and gas environments
- Evaluate internal controls related to operations, finance, HSE, and compliance
- Assess regulatory and contractual compliance in oil and gas activities
- Prepare clear, professional audit reports with practical recommendations
- Apply international auditing standards and industry best practices
- Introduction to the Oil and Gas Industry
- Overview of upstream, midstream, and downstream operations
- Industry value chain and key stakeholders
- Operational and financial characteristics of oil and gas entities
- Audit Environment and Regulatory Framework
- International auditing standards and industry guidelines
- Oil and gas regulatory and contractual requirements
- Role of governance, risk management, and compliance (GRC)
- Risk Assessment in Oil and Gas Audits
- Operational, financial, and strategic risks
- HSE and environmental risks
- Fraud, corruption, and compliance risks
- Risk-based audit planning
- Internal Controls in Oil and Gas Operations
- Controls over exploration and production activities
- Joint ventures, production sharing agreements, and revenue controls
- Capital projects, procurement, and contract management controls
- Auditing HSE and Asset Integrity
- Auditing health, safety, and environmental management systems
- Process safety and asset integrity assurance
- Incident investigation and compliance auditing
- Audit Execution and Evidence Collection
- Audit techniques and fieldwork practices
- Sampling and data analysis in oil and gas audits
- Using checklists and audit programs
- Audit Reporting and Follow-Up
- Writing effective audit findings and recommendations
- Communicating audit results to management
- Follow-up audits and monitoring corrective actions
- Case Studies and Practical Applications
- Real-world oil and gas audit scenarios
- Lessons learned and best practices
