Course Info
Code PF1-127
Duration 5 Days
Format Classroom
Course Summary
In today's ever-evolving business landscape, corporations face a myriad of challenges ranging from environmental concerns to financial complexities. As a result, there's an increased emphasis on internal audit functions to ensure quality and compliance. This course focuses on equipping participants with the knowledge and skills to plan and execute effective audits of projects and contractors, ultimately meeting predetermined objectives.
Upon completion of this course, participants will be able to:
- Understand the integration of projects and contractors to uphold quality standards.
- Implement project risk assessment practices and Quality Assurance and Improvement Programs.
- Recognize the impact of audit planning on the auditing process.
- Manage audits of projects and contractors efficiently.
- Enhance management skills within the audit process.
- Establish actionable audit findings to drive integration and improve efficiency.
- Apply 'Conformance with International Standards for the Professional Practice of Internal Auditing'.
This course is suitable for a wide range of professionals, including:
- Financial Managers seeking to enhance their understanding of project and contract audits.
- Project Managers aiming to improve efficiency through risk assessment.
- Internal Auditors looking to expand their technical skills and compliance knowledge.
- External Auditors involved in interim audits or agreed-upon procedures.
- Accounting Professionals seeking career advancement opportunities.
- Key stakeholders involved in the implementation of significant projects.
Course Content & Outline
Section 1: Understanding Project Management and Contractor Engagement
- Overview of project management concepts and terminology.
- Key components of project activities and lifecycles.
- Procurement process and contractor scope.
Section 2: Project Audit Procedure and Implementation
- Phases of the project audit process: preliminary, performance, assessment, completion.
- Strategic planning, resource allocation, and risk assessment.
- Monitoring audit activity, staff performance, and self-assessment.
Section 3: Functional Implementation and Best Practices
- Common challenges and solutions in audit processes.
- Importance and frequency of external assessments.
- Ethical considerations in auditing.
Section 4: Reporting and Stakeholder Management
- Stakeholder management and resource administration.
- Report writing, presentation, and implementation.
- Reporting on Quality Assurance and Improvement Programs.
Section 5: Practical Application and Case Studies
- Case studies for practical application.
- Evaluation of real-world scenarios.
- Discussion and analysis of best practices.
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