Auditing in the Oil and Gas Industry Training Course
Course Overview
| Course Title | Auditing in the Oil and Gas Industry Training Course |
| Organization | Tech For Development (T4D) |
| Venue | Tech For Development (T4D) Training Center along Tala Road, Runda, Nairobi |
| Target Industries |
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| Target Job Roles |
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| Course Fees (Face-to-Face) | USD 1,100/KES 75,000 (Exclusive of VAT) |
| Course Fees (Virtual) | TBA |
| Training Modes | Virtual and face-to-face training |
| Payment | Payment should be made to the Tech For Development (T4D) bank account on or before the start of the course |
| Accreditation | Tech For Development Certificate of Course Completion |
Course Overview
The Auditing in the Oil and Gas Industry Training Course is designed to equip audit professionals, compliance officers, and financial controllers with the specialized knowledge and skills needed to audit the complex and high-value operations typical of the petroleum sector. Covering upstream, midstream, and downstream activities, this course addresses risk assessment, cost auditing, joint venture audits, production sharing contracts, and environmental and regulatory compliance within the oil and gas value chain.
Through real-world case studies and industry-specific frameworks, participants will gain practical insights into financial, operational, and environmental auditing in alignment with International Financial Reporting Standards (IFRS), ISO standards, and local/national regulations.
Course Duration
5 Days
Target Audience
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Internal and external auditors
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Finance and compliance officers in the oil & gas sector
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Risk managers and regulators
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Joint venture auditors and contract specialists
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Accountants and controllers in extractive industries
Personal Impact
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Enhance understanding of complex oil & gas audit cycles
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Gain confidence in managing joint venture and PSC audit requirements
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Learn how to identify red flags in exploration, production, and cost reporting
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Develop sector-specific risk management capabilities
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Build competencies in auditing environmental and sustainability compliance
Organizational Impact
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Strengthened internal audit frameworks and controls
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Improved cost recovery processes and contract compliance
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Enhanced regulatory and environmental accountability
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Increased stakeholder and investor confidence
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Better risk mitigation across the hydrocarbon lifecycle
Course Objectives
By the end of the course, participants will be able to:
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Understand the structure and audit implications of oil & gas operations
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Conduct audits aligned with industry standards and reporting frameworks
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Assess compliance with joint venture, PSC, and regulatory obligations
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Audit capital and operational expenditures, cost recovery, and taxation
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Evaluate environmental, health, and safety (EHS) auditing procedures
Course Modules
Course Outline
Module 1: Overview of the Oil and Gas Industry and Its Audit Environment
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Structure of upstream, midstream, and downstream sectors
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Key players: NOCs, IOCs, and service contractors
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Industry-specific audit risks and challenges
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Introduction to Production Sharing Contracts (PSCs), Joint Ventures (JVs), and concessions
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Case Study: Auditing in a multi-partner exploration project
Module 2: Financial Auditing and Cost Recovery in Oil and Gas
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Capital vs. operational expenditure (CapEx vs. OpEx) audit techniques
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Cost allocation and cost recovery under PSCs
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Common cost misstatements and audit red flags
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Taxation, royalties, and profit-sharing audit considerations
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Real-life Project Review: Cost audit of a deepwater oil drilling project
Module 3: Joint Venture and Contract Audits
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Understanding JV agreements, operator/non-operator dynamics
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AFE (Authorization for Expenditure) audits and reconciliation
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Billing statements, audit rights, and dispute resolution
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Partner and third-party cost verification
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Simulation: Conducting a joint venture audit with non-operator concerns
Module 4: Operational and Compliance Auditing
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Auditing procurement, logistics, and supply chain functions
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Environmental, health, and safety (EHS) compliance auditing
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Local content audits and regulatory reporting
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Internal controls and SOX compliance in oil & gas
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Workshop: Environmental compliance audit of a refinery
Module 5: Fraud Risk, Technology, and Audit Reporting in the Oil & Gas Sector
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Common fraud schemes: billing, procurement, inventory manipulation
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Data analytics and audit software in oil & gas audits
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Preparing impactful audit reports for senior management and regulators
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Continuous audit and monitoring techniques
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Case Study: Fraud detection in materials management at an onshore terminal
Course Administration
Methodology
This instructor-led training course is delivered using a blended learning approach comprising presentations, guided practical sessions, web-based tutorials, and group work.
Accreditation
Participants will receive a Tech For Development Certificate of Course Completion.
Training Venue
Held at the Tech For Development Training Centre.
Accommodation & Airport Transfer
Arranged upon request.
Email: letstalk@techfordevelopment.com
Phone: (+254) 790 824 179
Tailor-Made
Customised training available.
Payment
Send proof of payment to letstalk@techfordevelopment.com.
Related Courses
Previous Participants
| # | Role | Organization | Country |
|---|---|---|---|
| 1 | IT | T4D | Kenya |