Internal Audit in Oil & Gas Training Course

Course Overview

Learning Objectives

• Understand the role, responsibilities, and professional standards of internal audit in oil and gas organizations.
• Examine governance structures and control environments across upstream, midstream, and downstream operations.
• Apply risk-based auditing methodologies to identify and prioritize operational, financial, and compliance risks.
• Develop risk-based internal audit plans and define appropriate audit objectives and scopes.
• Evaluate the design and operating effectiveness of internal controls across key oil and gas processes.
• Conduct audits of procurement, contracting, inventory, maintenance, capital projects, and operational activities.
• Assess compliance with applicable regulatory requirements, internal policies, and industry standards.
• Apply effective audit sampling, evidence collection, testing, and documentation techniques.
• Identify control deficiencies, investigate root causes, and evaluate the significance of audit findings.
• Prepare clear audit reports and develop practical recommendations and follow-up procedures.

Who Should Attend

Learning Outcomes

• Explain the internal audit function and its contribution to governance and operational assurance in the oil and gas industry.
• Identify key business and operational risks across upstream, midstream, and downstream activities.
• Develop risk-based audit plans, objectives, scopes, and testing programmes.
• Evaluate internal controls over financial, operational, procurement, and project management processes.
• Assess procurement, contracting, inventory, and materials management controls.
• Examine maintenance, asset management, production reporting, and operational performance controls.
• Evaluate compliance controls relating to HSE, environmental obligations, and regulatory requirements.
• Apply audit procedures for collecting, testing, and documenting reliable evidence.
• Identify control weaknesses and assess their operational, financial, and compliance implications.
• Prepare structured audit findings and actionable recommendations.
• Establish follow-up procedures to monitor corrective actions and assess their effectiveness.

Course Outline