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Risk Based Internal Auditing for Oil and Gas Course

By: TSI Limited

Ogun State, Nigeria

03 - 05 May, 2022  3 days

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NGN 185,000

Venue: Online and Class room @ 4, Akinpelu Street, Lagos - Ibadan Express Road, Behind ENYO Petrol, Ibafo Bus stop, Ibafo, Ogun State

This intensive 3-day training in Risk Based Internal Auditing covers the main audit functions and the process of implementing an enterprise risk management approach (ERM) when conducting internal audits especially in a manufacturing outfit..
The training program covers in great detail all steps involved in planning, developing and implementing a risk-based approach for Oil and Gas companies
 
Learning Objectives

At the end of the 3 days sessions, participants would be able to:

  • discuss Enterprise-Risk Management effectively to gain management approval of its adoption 
  • establish a framework for its implementation;
  • develop a plan on how to implement risk based internal auditing;
  • apply a Risk-based approach to internal auditing;

Course Outline

  • Why risk-based internal auditing?
  • Risk-based internal auditing defined
  • The paradigm shift in internal auditing: why it is happening and why it is necessary
  • How risk-based auditing differs from current approaches
  • The advantages of risk-based auditing to you and your organization
  • Enterprise Risk Management
  • Objectively driving the Enterprise Risk Management environment
  • Equating risk management and corporate governance
  • The primary subsets of enterprise risk management
  • Strategically cascading risk ownership
  • The impact of ERM on the internal audit group
  • Fundamental issues of how risk will be assessed
  • Risk registers
  • Key attributes of a risk-based audit function
  • Understanding the meaning of ‘true business risk’ and its impact on the audit function
  • Ability to identify key types of business risk
  • Understanding how business risk should drive the audit function
  • Acknowledging the interrelationship between business risk and control failure
  • Making risk a top priority
  • Defining the skill sets and competencies required under a risk-based audit
  • Strategies for educating your auditors in risk-based approaches
  • Focusing on deliverables as the audit product
  • Transitioning existing audit styles and defining new ones
  • Identifying reporting relationships
  • Redefining the audit process for a risk-based function
  • Creating a plan for implementing risk-based auditing in the organization
  • Targeting the engagement on key risk areas for focused, high-impact, resource maximization
  • Employing risk-centric fieldwork tools and techniques
  • Utilizing a business risk-oriented reporting format
Online and Class room @ 4, Akinpelu Street, Lagos - Ibadan Express Road, Behind ENYO Petrol, Ibafo Bus stop, Ibafo, Ogun State May 03 - 05 May, 2022
NGN 185,000.00
(Convert Currency)

Prof. Richard Mayungbe +1-646-202-8832, +2348033467639, +2348023019508,

LEAD FACULTY: Richard Mayungbe, PhD, MSc, MBA, BSc, FCCA, FICA, CPFA, ACFE, MICM, MIPN, Ch.MC, MITD, SEC Licensed Investment Adviser

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