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Auditing for Oil, Gas

& Petrochemical
Companies
Risk based operational auditing within oil,
gas and petrochemical companies

15th - 19th November 2009, Course Director

Abu Dhabi Lin Bartlett

“Useful, productive
This seminar provides guidance and insights and good value for
money”
on auditing onshore core business processes Qalhat LNG SAOC
for these industries coupled with real life
case studies. “Conclusive in
highlighting the risks
involved in different
Understand operations of the oil &
the fundamentals of operational auditing and how to evaluate gas industry”
operational performance
Greater Nile Petroleum
Appreciate Operating Co.

the benefits of risk based auditing, associated tools and techniques and
practice using them with real life case studies relevant to an oil, gas or
petrochemical company SAVE UP TO
50% WITH
Gain IN HOUSE
the expertise and confidence to develop and conduct risk based TRAINING
operational audits of core business processes together with some of
the newer and more challenging business activities Details inside

Earn
37 CPE Credits ABU DHABI
 15th - 19th November
Auditing for Oil, Gas & 2009
Abu Dhabi
Petrochemical Companies
Risk based operational auditing within oil, gas &
petrochemical companies

Seminar Focus Course Director

& Features Lin Bartlett
This five day seminar tailored specifically for oil, gas and petrochemical companies provides Lin is a director of Berkeley Bartlett Associates, a
practical and valuable guidance on risk based operational auditing and leading edge techniques management consultancy established in 2000
in auditing. It teaches participants how to identify and prioritise the risks and assess the specialising in interim finance management, training,
efficiency, effectiveness & economics of both core and non core business processes providing risk management, business controls and auditing of
practical exercises to help delegates gain confidence in the techniques presented and in their financial and non-financial reporting.
own ability to use them. During her career with Shell, Lin held a number of
Auditing non core activities often proves more difficult to audit because the associated risks to senior management roles in IT, Finance and Audit. As
business objectives are often less well known and are new territory for the business as well as Shell UK’s Integrated Audit manager, she developed and
gained board approval for a risk-based integrated audit
for the internal auditors. Auditing major contracts, for example shutdown contracts, and
planning and management process, establishing
outsourced operations are explored in detail to provide delegates with insights from practical
integrated audit plans for all key business areas. She is
experience on where the efficiency, effectiveness and value might not be realised as well as
a trained auditor in financial, IT, health, safety,
highlighting key areas to focus on to ensure that key risks are being appropriately managed and
environment and quality management and planned and
the risk of fraud minimised.
managed major audits in many different parts of Shell's
Delegates are provided with the opportunity to review the challenges for Internal Audit in its business including upstream, downstream, gas and
approach to and involvement with risk management and the role internal audit can play in chemicals.
facilitating risk management within their organisations. In 2003 she successfully helped establish a new
Participants will learn the benefits that risk based auditing can have in focusing auditing effort company to challenge the sustainability assurance
on the key risks that threaten the achievement of business objectives and how to reflect and offering in the marketplace and to raise the standard of
prioritise risk in their audit reports. Both aspects of risk, threats and opportunities, are covered. assurance & verification of non- financial reporting
available and has subsequently provided assurance &
Through participating in discussions, exchanging ideas and reviewing case studies of real life verification services to a number of blue chip
examples from their industries delegates will gain the knowledge and confidence to employ their companies.
new skills back in the workplace.
SAVE UP TO During 2005, Lin was engaged on a global Sarbanes
50% WITH IN Oxley 404 compliance implementation project for a
HOUSE FTSE 100 company. Lin was responsible for both the
global project planning and management support and
In-House Training TRAINING
also the management of a team responsible for
Save Up To 50% When You Run This course In-house documenting risks and controls over financial reporting
for their European business.
In-house tailored training will enable you & your colleagues to make significant savings as
we charge per day & not per participant so the cost remains the same regardless of how More recently Lin has been engaged on External Quality
many people attend. We can offer any of our public courses or tailor them to your Assessments (EQAs) as required by the Institute of
requirements. Training is available in all areas of Internal Audit, IT Audit, and IT Security Internal Auditor’s International Standards for the
Professional Practice of Internal Auditing and Code of
If you have 6 or more colleagues who would be interested in one of our courses and you
Ethics. She also provides training and helps companies
would like to make significant savings, contact us now;
prepare for an EQA.
• What are your training objectives?
• How many people require the training? Lin is a Senior Instructor for MIS Training Institute and
delivers both external and in-house courses on Risk
• When would you like to run the training?
Management, the Fundamentals of Internal Auditing,
• What level of experience do you and your colleagues have?
Auditing Techniques for Lead Auditors, Risk based
• We will then email you a detailed proposal which addresses your unique needs. Operational Auditing, Communication & Interviewing
Techniques and Sarbanes Oxley 404 compliance.
Email Guy Cooper at or call She is also a member of the MIS Internal Audit
gcooper@mistieurope.com +44 (0) 20 7779 8975 Advisory Board.
 Who Should Prerequisite
Attend Basic auditing experience
Auditors and those with
responsibility for managing Learning Level
audits who want a Basic / Intermediate
comprehensive guide to
operational auditing together
with the latest risk based
Fee
auditing techniques GBP £2,645

Earn
37 CPE Credits

Day One Day Two Exercise: Brainstorming contract

threats & opportunities for oil company
Exercise: Developing the audit
objective and terms of reference
related major contract types

Course introduction & Fraud awareness Auditing shutdown

overview •
•
Identifying internal audit’s role
Why fraud happens
management Day Five
• Vender audits
Setting the scene – internal • Profiling the fraudster • Emergent work and accruals
auditing today • High-potential areas for fraud • Shutdown maintenance contracts Auditing projects
• Understanding the importance of occurrence • Key areas for fraud • What constitutes a project?
enterprise risk management • Indicators of potential fraud - red flags Case study: Contract fraud • Why does internal audit get involved?
• Leading edge trends and top priorities • Using the computer to detect fraud • Recognising the differences in roles
for internal audit Auditing sales and marketing between the consultant & the auditor
• Class discussion: issues and Auditing the procurement • Why sales and marketing is often • Determining the key stakeholders,
challenges for IA and for the sector function difficult to audit project governance framework and key
• Identifying the overall assurance • Procurement strategy • Identifying the risks to the achievement performance indicators
framework for all activities • Identification of the core purchasing of marketing objectives & targets • Assessing project management,
• Managing the 360 degree perspective activities and control objectives • Assessing advertising and promotions monitoring & control
of risks & opportunities (reputation, • Vender selection/pre-qualification • Order processing • Identifying the key risks &
health, safety, environmental, social opportunities
• Tender boards and processes • Pricing and discount policies
and ethical risks) Exercise: Developing a test plan for a
• Call-off orders • Sales management & performance
Exercise: Identifying where Internal project audit case study
Audit is positioned in your company • Segregation of duties controls monitoring
Case Study: Sustainable development Exercises: Key questions a marketing Auditing joint ventures
Understanding risk principles and procurement policy for audit should answer • The change in position from an internal
an oil company Brainstorming risks in the sales to auditor to an external auditor and the
Management and risk based Exercise: Identifying the key risks in receivables process different challenges the change in role
auditing? the requisition to payment process presents
• Risk management terminology and the Exercise: Segregation of duties • Understanding the different types of
key system components template tailored for a chemicals joint ventures agreements and types of
• An introduction to the principles of risk
company Day Four audit that may be required
• Establishing communications
based internal auditing
• IIA guidance & direction
Auditing inventory • Determining the specific contractual
• The risk maturity framework management Auditing governance & ethics arrangements and the extent of audit
• Setting out the key risks • The importance of the “tone at the top” rights/defining the boundaries
Case Studies: Example risk evaluation
process, example risk registers for a • The primary audit objectives of • Identifying the ethics & governance • Identifying sources of information and
global oil, gas and petrochemical existence, title, accuracy and realisable framework & key risks any potential JV & audit sensitivities
company and risk profile for an oil value • IIA guidance on auditing organisational • Confirming the corporate governance
company • Keys to effective inventory governance & operational framework & standards
Exercise: Identifying the risk maturity management • Assessing alignment with • Identifying opportunities to place
of your organisation • Policies, procedures and management organisational values & goals reliance on the work of others
performance • Ethics, conflicts of interest and Exercise: Developing a risk matrix for a
The fundamentals of • Using analytical procedures to test corruption joint venture company
operational auditing inventory • Illegal information brokers
• Understanding the differences between • The importance of the stock count Auditing outsourced
Exercise: Auditing ethics & compliance
operational & traditional auditing Exercise: Auditing the valuation operations
Exercises: Ethical dilemmas • The broadening scope of outsourced
• The 6 E s - efficiency, effectiveness, process
Case study: Code of ethics for an oil & activities
economics, equity, ethics and the gas company
environment • The decision to outsource and strategic
implications
Exercises: Brainstorming risks & Auditing health, safety and
Understanding learning styles Day Three environmental management
• The importance of contractual
arrangements & performance
• Confirming internal audit’s role measurements
Facilitating risk identification
• Getting buy-in from the specialists • The implications of Sarbanes Oxley &
workshops Auditing major contracts • Health, safety and environmental SAS 70s
• Understanding the differences between • Understanding the different types of strategies
presenting & facilitating contract and audits required • Evaluating the key risks
• Auditing the management systems • Managing the audit protocols & any
• Facilitation techniques & top tips • Differentiating between the various key
stages of contract life cycle • Adding value: audit’s role and sensitivities
• Handling difficult situations sustainability reporting
• Reviewing generic contract Exercise: Developing the terms of
Exercise: Facilitating a risk Case studies: Key performance reference, the risk matrix & reporting
identification workshop management risks
indicators for an oil refinery. the findings for an audit of an
• Recognising the key areas for Sustainability benchmarking; reducing outsourced operation
fraudulent activity CFC usage on sites/platforms
© MIS Training 2009 • Identifying the best time to be involved Course review & closure
Auditing for Oil, Gas & Petrochemical Companies
Risk based operational auditing within oil, gas & petrochemical companies

•Understand the fundamentals of operational auditing & how to

Key topic evaluate operational performance
areas •Appreciate the benefits of risk based auditing, associated tools &
techniques and practice using them with real life case studies
relevant to an oil, gas or petrochemical company
•Gain the expertise and confidence to develop and conduct risk
based operational audits of core business processes together
with some of the newer and more challenging business activities
•MIS Training Institute is the global leader in audit and infosecurity
Why training, with over 30 years experience and having trained over
should you 200,000 delegates
attend? •Instructors/speakers are the most reputable in the industry
•Group sizes are restricted to ensure optimum contact time with
the facilitator
•Courses are constantly reviewed and revamped to meet the latest
legislative and market challenges
Please quote reference WEB when booking •Gain CPE points towards your professional certification

15th - 19th November 2009, Abu Dhabi

PLEASE SEND ME INFORMATION ABOUT RUNNING THIS COURSE IN-HOUSE 
Auditing for Oil, Gas & Petrochemical Companies 5 easy ways to register
(please photocopy form for additional delegates) Tel: +44 (0)20 7779 8944
 15th - 19th November 2009, Abu Dhabi (MT031106) Fax completed form to: +44 (0)20 7779 8293
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Please ensure you have read this carefully before submitting your registration] MIS Training All training venues will be confirmed 3-4 weeks prior to the course start date. For further
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EARN
37 CPE CREDITS

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