Training on Auditing of Projects and Contractors

Course Overview

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 PROTRAIN course seeks to provide you with the 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 evidence to formulate an audit opinion and to report and implement your findings.

Participants attending this training course will develop the following competencies:

Doing a project and contractor risk assessment
Using audit planning to determine scope of the audit process
How to implement a detailed audit program
Effective communication of audit findings

Who Should Attend

Financial Managers who wish to broaden their scope of understanding of the audit of projects and contracts
Project Managers who will benefit from understanding the risk assessment and audit process in order to improve project outputs
Internal Auditors who wish to develop their technical skills and compliance
External Auditors who are involved in interim audits or agreed upon procedures
Accounting Professionals who wish to improve their career opportunities
Any stakeholder in the implementation of material projects

This 10-day Accounts Receivable and Payable Best Practices training course is also ideal for those wishing to develop their understanding of how Working Capital efficiencies can make a significant improvement to profitability or you may already be employed in any of these functions within the business.

Course Duration

5Days

Training Objectives

This training course aims to enable participants to achieve the following objectives:

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

Training Outline

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
Benefit of the audit
Users of the audit
Principles of the project audit
Risk 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
- Behavioral competence
- Overall evaluation

Basic audit structure
Audit of 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 report
Implementation of best practices ":

Training Approach

The instructor-led trainings are delivered using a blended learning approach and comprise of presentations, guided sessions of practical exercises, web-based tutorial and group work. Our facilitators are seasoned industry experts with years of experience, working as professional and trainers in these fields. All facilitation and course materials will be offered in English.

Accreditation

Upon successful completion of this training, participants will be issued with a PROTRAIN institute certificate

Tailor-Made

This training can be customized to suit the needs of your institution upon request.

TRAINING DATE

VENUE

Register, Physical or Online Training

14/09/2024 to
19/09/2024

Nakuru

14/09/2024 to
19/09/2024

Nairobi

14/09/2024 to
19/09/2024

Nairobi

14/09/2024 to
19/09/2024

Nairobi