Oil & Gas Training
and Competency Development

Location Bandung, Indonesia
Start05 Nov 2018
End09 Nov 2018
Discipline Economics and Finance
Duration5 Days
CostUSD 4,500.00
Delivery Mechanism Classroom
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Auditing in the Oil and Gas Industry

This course will provide participants with an understanding of the principles and practices applied in auditing activities undertaken in the upstream oil and gas industry.  Extensive use will be made of realistic industry based exercises and case studies to reinforce key teaching points and to provide participants with opportunities to apply the knowledge gained in a practical manner.

Participants will also learn how to develop and apply a structured methodology for conducting upstream oil industry joint venture and Production Sharing Contracts (PSC) audits.

  • Agenda
  • Audience
  • Prerequisites
  • Location
  • Agenda

    Day 1

    Audit Principles, Audit Concepts, and Internal Audit

    • Audit origins, purposes, and types
    • Audit concepts
    • Internal audit

    The first day will to set the scene by providing a generic definition of audit, while stressing the importance of independence, as well as the importance of examining different approaches to risk assessment and audit planning.  Participants will complete a number of practical exercises to illustrate the key learning outcomes.

    Day 2

    Audit Techniques

    • Audit preparation and planning
    • Risk assessment
    • Testing and sampling
    • Interviewing techniques
    • The audit report

    Some of the key techniques associated with the examination of system processes will be explained before participants learn about considering how to test internal controls and selecting an appropriate sample of transactions to be audited.  The importance of corporate governance will be addressed.  The day will close with some examples of operational auditing techniques.

    Day 3

    The Joint Venture Audit Process

    • The audit cycle
    • Joint venture accounting procedure and audit rights
    • Multi-venture and contract audits 

    Participants will start by examining issues associated with auditing a contractor before focusing on the importance of joint venture audit and some of the issues that arise when conducting such audits.

    Day 4

    Joint Venture Operations and Typical Major Audit Issues

    • The cash account and areas requiring review at audit
    • Understanding unitization and redetermination and their implications for the joint venture audit
    • Audit of general and administrative costs
    • Review of Parent Company Overhead (PCO) provisions contained in the accounting procedure
    • Audit of various cost categories 

    The focus on joint venture audits will continue with the emphasis on the major areas of expenditure and the audit issues that frequently arise.  A number of examples and exercises will be conducted to illustrate the main learning outcomes.

    Day 5

    General and Administrative Costs, Case Study, and PSC Audits

    • General and administrative costs, allocation to joint ventures, and parent company services
    • Joint venture case study
    • How a PSC audit differs to a joint venture audit 

    Participants will put into practice the principles that they have learned during the course by participating in a case study.  They will conduct an audit and then summarize their key findings.  Participants will also learn to appreciate the differences between auditing a PSC and joint venture operations.

  • Audience

    Staff who are new to the discipline of audit, experienced audit practitioners who wish to update the skills, personnel from any discipline who are involved in internal audits, joint venture audits, or PSC audits, and personnel with a background in statutory audit in the accounting profession who require an understanding into the specialized area of upstream auditing.

  • Prerequisites

    Some previous audit experience is preferable however the course is suitable for any staff who would like to gain an understanding of audit principles

  • Prerequisites

  • Location


    Bandung is the capital of West Java province in Indonesia. Located 768 m (2,520 ft) above sea level, Bandung has relatively year-around cooler temperature than most other Indonesian cities

    Bandung Sky Line

    Bandung is renowned for its large stock of Dutch colonial architecture; most notably the tropical Art Deco architectural style. The modern and native architectural blending was followed by several Dutch architects that have shaped the city landmarks. In the 1930s, Bandung was known also as the city of architecture laboratory because of many Dutch architects made some experiments with new architectural designs.

    Bandung has served for popular weekend-break destination for people living in Jakarta for many reasons. The cooler climate of highland plantation area, the varieties of food, the cheaper fashion shops located in factory outlets and distros, golf courses, and the friendliness of local people have become the main attraction of the city.

    Bandung Husein Sastranegara International Airport serves direct flights to Batam, Surabaya, Yogyakarta, Denpasar, Palembang and Padang and also international services from Kuala Lumpur and Singapore Changi Airport. The airport is located nearby the Dirgantara aerospace complex and Dirgantara Fairground.

    From Wikitravel licensed under Creative Commons Attribution-ShareAlike 3.0

    • Timezone : GMT+07:00, Bangkok (Bangkok)
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Bandung, Indonesia November 05 - 09, 2018
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