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.

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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: 22nd – 25th Apr,                                      2025    

2ND BATCH: 26th – 29th Aug,                                      2025

3RD BATCH: 9th – 12th Dec,                                         2025