Projects and Contractors Audit

Introduction

Auditing of Projects and Contractors is a comprehensive training course that will help you to understand the audit planning process and the subsequent execution of the audit of projects and contractors in order to meet the determined audit objectives. This training course seeks to provide you with skills such as project risk assessment, appreciating the scope of risk associated with contractors, and formulating a well-designed audit program. By applying these skills, you will be able to perform a comprehensive audit and obtain sufficient audit evidence to formulate an audit opinion and report and implement your findings.

Course Objectives

• Understand the integration of projects and contractors.
• Techniques for project risk assessment.
• Appreciate how audit planning impacts the audit process.
• Skills to conduct the audit of projects and contractors.
• Development of management skills in the audit process.
• Formulation of audit findings for effective implementation.
• How to use project audit to improve project efficiency and outputs.

Course Outlines

Day 1

Overview of Projects and Contractors

• Overview of the project management process.
• Project activities and lifecycle.
• Key players within projects.
• Basic terminology of project management.
• Understanding the procurement process.
• Scope of contractors in the project.
• Compliance background.

Day 2

Risks and Objectives of the Audit

• Project assurance.
• Definition of the project audit.
• Objectives of the project audit.
• The benefit of the audit.
• Users of the audit.
• Principles of the project audit.
• Risks and responses of projects.
• Risk and responses of contractors.

Day 3

Project Audit Process and Planning

• Process of the project audit:
  • Preparatory phase.
  • Performance phase.
  • Evaluation / analytical phase.
  • Conclusion phase.
• Pre-engagement planning.
• Risk assessment.
• Review of resources.
• Overview of audit methodology.

Day 4

Audit Methodology

• Audit methodology according to individual phases and areas
  • “Project initiation” phase.
  • The “Project proposal” phase.
  • The “Project planning” phase.
  • The “Project realization” phase.
  • The “Project completion” phase.
  • Behavioural competence.
  • Overall evaluation.
• Basic audit structure.
• Audit of the procurement process.
• Audit of engagement with contractors.

Day 5

Audit Implementation and Reporting

• Practical implementation of the audit process.
• Common issues of the process.
• Ethical considerations.
• Dealing with stakeholders.
• Application of resources.
• Writing the audit report.
• Audit report content.
• Presenting/implementing audit reports.
• Implementation of best practices.