Value for Money Audit

Introduction

This GLOMACS Value for Money Audit training course is designed to assist the auditor in assessing whether an organization operates in a cost conscious, efficient and effective manner, and it will improve the organization’s internal audit function.

The role of internal audit is to assess the management in achieving the strategic objectives. Though generally Value for Money (VfM) audits are performed more frequently in the public sector, there are an increasing number of private companies carrying out VfM audits. However, few auditors have in-depth experience of Value for Money Auditing.

This unique practice-based training course brings together the common elements of VfM Audit based reviewing into a single source for a reviewer. 

Objectives

This Value for Money training course provides a basic overview and in-depth look auditing Joint Interest, Accounting procedures and processes. This training course will provide accountants and other petroleum players with an understanding of the necessary functions and operations for Joint Interest Auditing.

At the end of this Value for Money Audit training course, you will be able to:

• Conduct a Value for Money (VfM) audit
• Identify key elements of a joint interest audit
• Develop a risk-based approach to audit
• Produce compelling Value for Money (VfM) audit reports
• Understand the best practice in investigate fraud

Training Methodology

Participants to this Value for Money (VfM) Audit training course will receive thorough training on the subjects a variety of proven adult learning teaching and facilitation techniques. The training course methodology includes:

• Case studies from the different industry sector
• Group discussion, group work and interactive exercises and videos
• Pre & Post course assessments to enhance learning outcomes for participants and to measure the effectiveness of this training

Organisational Impact

The organization will gain:

• More effective Audit support for all the staff
• Greater relevance and reliability of Audit information
• More strategic thinking and focus on performance
• More effective use of Value for Money (VfM)  Auditing of the company
• Preparation of staff for increased responsibility

Personal Impact

This Value for Money Audit training course will be of personal benefit to delegates by providing you with:

• A better understanding of the context and importance of the work you do
• Improved knowledge and skills to improve your effectiveness
• Greater awareness of industry practices, problems and solutions
• Increased understanding and assurance to complete tasks successfully
• Increased self-confidence and motivation at work
• Greater job satisfaction in providing quality support to management
• Greater ability to supervise, develop and motivate colleagues