This three-day seminar tailored specifically for oil, gas, and petrochemical companies provides practical and valuable guidance on risk-based operational auditing and leading edge techniques for evaluating many of the industry specific processes.

The oil and gas industry has been in an economic slump since the mid-1980’s. There have not been significant domestic explorations that have been successful. Due to the declining oil and gas prices, there has been increased activity by natural resource companies in the financial markets, trading on the exchange and off exchange. In addition, the oil and gas industry is highly “capital-intensive.” This is due to the enormous cost of developing properties and the low probability of success. Consequently, retained earnings of oil and gas companies are frequently in the tens of millions of dollars. All of these factors introduce increased risk to companies doing business in this arena.

Auditors for oil, gas, and petrochemical companies often find themselves in unfamiliar territory when trying to outline audit processes that are truly risk based and cover their unique industry. This course will provide participants the ability to learn and review some of the major risk areas specific to the industry and collaborate on audit techniques and procedures that will provide true value to their companies. Through participating in discussions, exchanging ideas and industry specific case studies, seminar attendees will gain knowledge and confidence to employ their new skills back in the workplace.

Prerequisite: None                     Advanced Preparation: None
Learning Level: Intermediate      Field: Auditing
Delivery Method: Group-Live