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:
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Understand the principles of project auditing Identify and assess project risks.
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Evaluate project performance.
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Conduct effective project audits.
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Prepare comprehensive audit reports.
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Appreciate the benefits of proactive risk-based audit of key projects.
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Evaluate and analyze the common factors and mistakes that lead to projects not achieving the desired outcomes.
Targeted Audience:
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Project Managers seeking to enhance their understanding of project auditing processes.
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Contract Managers interested in improving their ability to evaluate contract performance.
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Internal Auditors aiming to specialize in auditing projects and contracts.
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Professionals involved in project planning, execution, and evaluation.
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Individuals responsible for ensuring compliance with project and contract requirements.
Program Outline:
Unit 1:
Introduction to Project Auditing
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What is project auditing?
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The importance of project auditing.
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The benefits of project auditing.
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The project lifecycle.
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Project plannin, and project control.
Unit 2:
Project Risk Management includes:
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Identifying project risks.
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Assessing project risks.
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Developing risk mitigation strategies.
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Key performance indicators (KPIs).
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Earned value management (EVM).
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Project dashboards.
Unit 3:
Project Audit Methodologies:
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Risk-based auditing.
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Continuous auditing.
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Special purpose audits.
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Defining the audit scope Developing the audit plan.
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Assembling the audit team.
Unit 4:
Project Audit Execution & Reporting:
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Conducting interviews.
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Reviewing documentation.
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Testing controls Preparing audit findings.
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Writing audit recommendations Communicating audit results.
Unit 5:
Project Audit Follow-up:
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Tracking the implementation of audit recommendations.
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Assessing the effectiveness of audit follow-up actions.
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Continuous improvement of project auditing practices.
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Benchmarking project audit performance against industry standards Monitoring the implementation of audit recommendations.