In the past decades, public audit institutions have increasingly focused not only on auditing public sector financial accounts, but also on scrutinizing whether public money has been used economically, efficiently and effectively. In other words, whether public spending is ‘Value for Money’ (VFM). There is, however, no prescribed or one-size-fits-all approach to VFM audit, which makes it a challenging undertaking from a methodological and practical point of view. This course will provide participants with a ‘step by step’ approach that they could use in planning and delivering VFM, culminating in how to report findings and secure change most effectively.
Objectives
This training course provides a basic overview and in-depth look auditing Joint Interest, Accounting procedures and processes. This will provide accountants and other petroleum players with an understanding of the necessary functions and operations for Joint Interest Auditing.
Course Outcomes
At the end of this 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
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 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
Who Should Attend?
This training course is open to:
This training course should be of particular interest to those supreme audit institutions involved in VFM auditing, or those planning to develop this stream of work. It should also be of interest to internal auditors/external auditors, policy makers and public officials in the Public Sector in African Countries.
Course Outline
Module 1
What is Value for Money (VFM) Audit?
Organizational Drivers and Objectives
Concept of Value for Money (VFM) Audit and its Roles in Achieving the Organizational Goals and Objectives
Pillars of Value for Money (VFM) Audit
The Challenges of Value for Money (VFM) Audit
The Value for Money (VFM) Auditor
Module 2
The Audit Function
Purpose & Types of Audit
The Roles & Procedures within the Internal Audit Department
Audit Preparation and Planning to Ensure an Effective Audit
Audit Testing / Sampling to Verify Accounts and Controls
Communicating Audit Findings & Audit Reviews
Module 3
Initiating and Planning the VFM Audit
The Procedures of Value for Money Audit
A Risk-based Approach to Value for Money (VFM) Audit: A Model Framework
The Key Steps in the Value for Money (VFM) Auditing Cycle
Special Planning Considerations for Value for Money (VFM) Audit
Value for Money (VFM) Audit and KPIs
Obstacles to the Conduct of Value for Money Audit
Module 4
Executing the Value for Money (VFM) Audit
Conducting the Value for Money (VFM) Audit
Working with others during the Value for Money (VFM) Audit
Setting and Assigning Value for Money (VFM) Audit Metrics
Process of the Data Collection Process
Analyzing Data and Extracting Conclusions
Management Controls and Value for Money Audit
Module 5
Reporting the Value for Money (VFM) Audit
Documenting the Value for Money (VFM) Audit
Quality Assurance of the Results
Producing Value for Money (VFM) Audit Reports
Distributing a Value for Money (VFM) Audit Report and the Impact
Case Study & Discussion
Start Date: 09/02/2019 End Date: 09/06/2019
Registration for this course has been closed. Please click ALL COURSES to view more future courses
Course Description
Course Duration: 5 days
Training Center: Datastat Research Center
Start Date: 09/02/2019
End Date: 09/06/2019
Registration for this course has been closed. Please click ALL COURSES to view more future courses
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