Auditing of Projects and Contracts

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

CONTENT
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

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

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

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

Audit Implementation and Reporting
• Practical implementation of the audit process
• Common issues of the process
• Ethical considerations
• Dealing with stakeholders
• Application of resources
• Writing the audit report
• Audit report content
• Presenting / implementing audit report
• Implementation of best practices

FOR WHOM
Internal Auditors who wish to develop their technical skills and compliance

METHODOLOGY
The training methodology integrates lectures, interactive discussions, collaborative group exercises, and illustrative examples. Participants will acquire a blend of theoretical insights and hands-on practical experience, emphasizing the application of learned techniques. This approach ensures that attendees return to their professional environments equipped with both the competence and self-assurance to effectively implement the acquired skills in their responsibilities.

DATE:
1ST BATCH: 3rd – 6th June, 2025
2ND BATCH: 16th – 19th Dec, 2025