Auditing in the Exploration & Production Industry

MDT International
Course summary
5 days
2,750 GBP excl. VAT
Open / Scheduled
Next available date: 02/03/2020 09:00 - London
Course Dates
02/03/2020 09:00 
2,750 GBP
22/06/2020 09:00 
2,750 GBP
22/03/2020 09:00 
2,750 GBP
20/09/2020 09:00 
2,750 GBP
Kuala Lumpur
13/04/2020 09:00 
2,750 GBP
19/10/2020 09:00 
2,750 GBP

Course description

Auditing in the Exploration & Production Industry

Auditing in the exploration and production industry - 5 day Training Course

This 5-day Auditing in the exploration and production industry training course is aimed at audit personnel in the Oil & Gas Industry who need to improve their knowledge and skills in upstream exploration and production activities. It focuses on the aspects of auditing that are particular to this field of work, both for experienced professionals and staff who are new to the audit discipline. The use of case studies and realistic oil industry-specific examples allows delegates to apply the knowledge acquired throughout the duration of the course.

The goal of this auditing course is to train participants in the following areas:

  • Applying a structured methodology to conduct three types of audits: oil industry internal, joint-venture and production-sharing
  • Implementing the gains of a multi-discipline audit approach
  • conducting audits according to a best practice model in the field of upstream exploration and production activities

Suitability - Who should attend?

This Auditing in the exploration & production industry course is suitable for:

  • personnel who are new to the discipline of audit
  • experienced audit practitioners who wish to build on their auditing skills
  • staff from any discipline who need to participate in internal or joint-venture audits
  • personnel with a background in statutory audit and/or accountancy who want insights into internal and joint-venture audits

Outcome / Qualification etc.

Participants on this course are eligible for 35 hours of CPD accreditation on completion. 

Training Course Content


  • Origins and purpose of audit
  • Audit types

Audit concepts

  • Independence - its application in different types of audit
  • Controls - objectives of controls and their application
  • Risk assessment - techniques to determine audit priorities

Audit techniques

  • Audit preparation and planning - to ensure an effective audit
  • Testing/sampling -techniques to verify accounts and controls
  • Interviewing techniques
  • Flowcharting techniques and their application
  • Reporting
  • Team management - to ensure resources are used effectively

Internal audit

  • Developing a model of internal best practice
  • Contract audits
  • COPAS AG - 9 & 11

Production-sharing contracts audit

  • Background
  • Key aspects of audit

Joint-venture audit

  • Developing a model of joint-venture audit best practice
  • The audit cycle - planning, implementation, results, reporting
  • Joint-venture accounting and the major audit issues that arise
  • Multi-venture audits


Course Fee: £2750.00 (+ VAT for attending UK courses). Fees include your attendance at the relevant training course/s and the provision of a comprehensive training course manual, course completion certificate, plus lunch and refreshments during the training day. Fees do not include accommodation and living costs.

MDT International can also provide this course on an in-house course basis, to discuss please submit enquiry. 

About provider

MDT International - Finance, Commercial & Management Courses for the Oil & Gas Industry

MDT delivers commercial training courses in most major established and emerging international oil and gas hubs. Whether you're taking part in an open course, or benefiting from the customised experience of our in-house training, you know what you’ll learn from some...

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Contact info

MDT International

MDT International Ltd
45 Albert Street
AB25 1XT Aberdeen

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Average rating 4.7

Based on 12 reviews

Mohamed, Qatar Petroleum
Increased knowledge on how to audit JV and PSC, areas to focus in the audits and good examples.
Beibut , ENI
The course was one of the best I’ve ever attended. Everything was perfect, trainer, materials, and venue.
Marcela Perez
Provided insight into operational activities that directly link to the transactional activities I'm involved in - therefore extremely beneficial! Marcela Perez - Santos
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