Project and Contracts Auditing and Risk Assurance

Course Overview

Project auditing and risk assessment generates chances for organizations to analyze the concerns, issues and difficulties that come during the execution of the projects. This provides a comprehensive understanding to all the concerned parties about what has been done well in a project and what should be analyzed. Project review is the best tool to analyze the components of a project which have been effectively working or aspects in which difficulties are being experienced. This helps organizations to avoid the errors and mistakes in future activities.

By going through this course, participants will be able to figure out how to conduct in-depth audit, what components of a project ought to be evaluated and how to create and provide details on audit findings.

Course Objectives

The course will help the participants to meet the following objectives:

  • To understand the basics of well-managed project
  • To learn about control and governance in relation to project setting solutions
  • To develop skills of assessing project risk particularly related to contract and procurement
  • To understand the important aspects of monitoring and evaluating the projects
  • To understand whether project exhibits and incorporates effective project management practices
  • To understand how to develop efficiency in auditing projects through identifying strengths and weaknesses
  • To plan how to improve skills in project auditing and risk assurance

Course Content

Understanding Project Risk

  • What is risk
  • The 10 golden rules of project risk management 
  • Risk identification and evaluation 
  • What is risk based audit
  • Risk and project audit

Auditing Projects and Contracts

  • Strategic audit planning
  • The project RBA approach
  • Auditing contracts
  • Auditing JV’s and partnership contracts

Auditing Major Projects

  • Steps in a major project audit
  • The project in progress
  • Cost control and accounting
  • Handover and post audit
  • IT projects
  • Other Projects

Course Methodology

The training is going to be highly interactive combination of lectures, group discussions, questionnaires, individual reflections, role plays, simulations and videos.

Target Audience

Project managers, engineers, external and internal auditors, project risk managers, audit and risk managers, managers of compliance, finance directors, heads of project financing/financial controllers, procurement and contract managers, engineering managers, heads of risk assessment and internal control, operational risk managers and quality assurance managers.


2 days (08:30–14:30) with appropriate breaks for tea/refreshments and lunch.

Related Courses

View All Courses