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MISTI MIS Training Institute Oil, Gas and Petrochemical Internal Audit College
MISTI MIS Training Institute

Oil, Gas and Petrochemical Internal Audit College

Southborough, USA

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English

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Sep 2024

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Key Summary

    About: The Oil, Gas and Petrochemical Internal Audit College focuses on equipping students with the essential skills for effective internal auditing within the oil, gas, and petrochemical industries. The curriculum offers a comprehensive understanding of industry-specific regulations, risk management, and compliance procedures. Students will engage in hands-on learning experiences that prepare them for real-world challenges while promoting best practices in auditing.
    Career Outcomes: Graduates can pursue various career paths, including internal auditor, compliance officer, or risk management specialist within the oil, gas, and petrochemical sectors.

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Introduction

The five day course is tailored specifically for oil, gas and petrochemical companies provides practical and valuable guidance on risk based operational auditing.

It teaches participants how to identify and prioritise the risks and assess the efficiency, effectiveness and economics of both core and non core business processes providing practical exercises to help delegates gain confidence in the techniques presented and in their own ability to use them. Report writing is also explored to help delegates not only to understand who Internal Audit's stakeholder's are but to help delegates to get their messages across clearly and concisely. Delegates are given the opportunity to provide examples from their workplace for review and discussion.

Auditing non core activities often proves more difficult to audit because the associated risks to business objectives are often less well known. Auditing major contracts, for example turnaround (shutdown ) contracts, and outsourced operations are explored in detail to provide delegates with insights from practical experience on where the efficiency, effectiveness and value might not be realised as well as highlighting key areas to focus on to ensure that key risks are being appropriately managed and the risk of fraud minimised. Delegates are provided with the opportunity to review the challenges for Internal Audit in its approach to and involvement with risk management and the role internal audit can play in facilitating risk management within their organisations.

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