Auditing of Projects and Contracts Virtual Course

• 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

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.

DATE:

1ST BATCH: 24th – 26th Jan, 2022            

2ND BATCH: 18th – 20th July, 2022