Certificate in Auditing of Projects and Contracts

Overview:

Introduction:

Project auditing ensures timely, budget-conscious, and quality project delivery by evaluating management processes, identifying risks, and suggesting improvements. Modern Internal Audit plays a crucial role in this process, enabling organizations to meet their targets effectively. This training program offers insights into auditing common projects for a practical and comprehensive approach.

Program Objectives:

At the end of this program, participants will be able to:

• Understand the principles of project auditing Identify and assess project risks.

• Evaluate project performance.

• Conduct effective project audits.

• Prepare comprehensive audit reports.

• Appreciate the benefits of proactive risk-based audit of key projects.

• Evaluate and analyze the common factors and mistakes that lead to projects not achieving the desired outcomes.

Targeted Audience:

• Project Managers seeking to enhance their understanding of project auditing processes.

• Contract Managers interested in improving their ability to evaluate contract performance.

• Internal Auditors aiming to specialize in auditing projects and contracts.

• Professionals involved in project planning, execution, and evaluation.

• Individuals responsible for ensuring compliance with project and contract requirements.

Program Outline:

Unit 1:

Introduction to Project Auditing

• What is project auditing?

• The importance of project auditing.

• The benefits of project auditing.

• The project lifecycle.

• Project plannin, and project control.

Unit 2:

Project Risk Management includes:

• Identifying project risks.

• Assessing project risks.

• Developing risk mitigation strategies.

• Key performance indicators (KPIs).

• Earned value management (EVM).

• Project dashboards.

Unit 3:

Project Audit Methodologies:

• Risk-based auditing.

• Continuous auditing.

• Special purpose audits.

• Defining the audit scope Developing the audit plan.

• Assembling the audit team.

Unit 4:

Project Audit Execution & Reporting:

• Conducting interviews.

• Reviewing documentation.

• Testing controls Preparing audit findings.

• Writing audit recommendations Communicating audit results.

Unit 5:

Project Audit Follow-up:

• Tracking the implementation of audit recommendations.

• Assessing the effectiveness of audit follow-up actions.

• Continuous improvement of project auditing practices.

• Benchmarking project audit performance against industry standards Monitoring the implementation of audit recommendations.