Audit Services
Oil & gas related audits conducted by us are categorized as follows:
1.Joint Venture Audits – which includes capital, operating and production for drilling wells, units and facilities both offshore and onshore.
2.Internal Audits – these include financial reviews as well as compliance with internal systems and external regulations.
3.Vendor/contractor Audits – vendors are mainly oilfield service and supply companies and the scope is to verify compliance with contracts and agreements.
4.PSC Audits – conducted on behalf of foreign governments and covers the full range of costs and revenues relating to the agreements.
5.Fiscal Audits – conducted on behalf of foreign governments and focus on withholding tax compliance as well as payroll tax and income tax.
Training and Development Services
We provide customized in-house training programs covering general business topics and oil & gas related topics ranging from introductory to advanced levels. Listed below are some examples:
1.Joint venture accounting – provides an overview of accounting practices and policies in the E&P industry, accounting for exploration, development and production costs, revenue recognition principles.
2.Auditing in the E&P industry – understanding audit principles and methodology and applying it to the E&P industry. Covers a range of audits including joint venture, production-sharing and internal (compliance) audits.
3.Introduction to the oil and gas industry – a practical overview of the E&P industry covering oil and gas terminology, energy markets, key issues facing the industry, processes related to exploration, drilling and production.
4.Accounting and financial management – customizable to either finance professionals or senior management with a non-finance background. Topics include accounting fundamentals, financial statement analysis, budgeting and capital investment evaluation.
5.Financial and energy markets – overview of the financial and energy markets, risk management in the E&P industry, project valuation, mergers and acquisitions and corporate financial policy.