Risk-Based Auditing in the Oil and Gas Sector

Objectives:

• Understand the principles and practices of risk-based auditing.
• Apply risk management strategies to the oil and gas sector.
• Identify and evaluate key risks in the oil and gas industry.
• Develop audit plans and techniques tailored to the oil and gas sector.

Introduction to Risk-Based Auditing in the Oil and Gas Sector

• Overview of risk-based auditing
• Importance of risk-based auditing in oil and gas
• Key concepts: risk assessment, internal controls, and audit objectives
• The audit process: from planning to reporting

Risk Management in the Oil and Gas Sector

• Understanding risk management principles
• Identifying operational, financial, and compliance risks in the oil and gas industry
• Risk management frameworks and methodologies
• Risk assessment tools and techniques for oil and gas audits

Conducting Risk-Based Audits in the Oil and Gas Sector

• Steps in planning and executing a risk-based audit
• Gathering and analyzing risk data
• Evaluating risk exposures in exploration, production, and distribution
• Tailoring audit procedures to industry-specific risks

Reporting and Mitigating Risks in Oil and Gas Audits

• Developing audit reports with a focus on risk mitigation
• Presenting findings and recommendations to stakeholders
• Risk mitigation strategies for the oil and gas sector

DATE:

1ST BATCH:        30th Mar – 2nd Apr, 2026      

2ND BATCH:       28th – 31st Jul, 2026

3RD BATCH:       24th – 27th Nov, 2026