Course

Oil & Gas Accounting & Finance Auditing

Category: Accounting & Finance

Upcoming Dates

DateVenueDescription
8 - 16 Apr 2024Lisbon7 days

Course Fee

£4,250 + VAT

OIL & GAS ACCOUNTING AND FINANCE AUDITING

Course Content

  1. Audit Principles
  • Origin & Types of Audits
  • Controls: Authorisation, Supervision, Procedures, Reconciliations & Physical, Review/Inspection
  • Risk & Risk Analysis
  • Audit Planning
  1. Audit Techniques
  • Review of Audit Process
  • System BASED Approach
  • Systems Auditing
  • Interview
  • Block Diagrams
  • Flow Charting
  • Testing, Sampling & Reporting
  1. Internal Audit
  • Definition of Internal Audit
  • Development of Internal Audit
  • Corporate Governance
  • Internal Audit Charter
  • Independence & the Audit Process
  1. Joint Venture Agreement
  • Joint Operating Agreement (JOA)
  • JV Accounting Procedure
  1. Joint Venture Audit
  • JV Audit
  • JV Cash Management
  • JV Financial Planning & Reporting
  • JV Billing & Cash Reconciliation
  • Drilling Expenditure Audit
  • Production OPEX Audit
  • Parent Company Overheads (PCO) Audit
  1. Production Sharing Contract (PSC) Audit
  • Cost Recovery Audit (Cost Recovery Ceiling Issues)
  • Production Sharing (Sliding Scale) Audit

7. Statement of Common Standards: International Financial Reporting Standards (IFRS)

8. Exercises

9. Case Studies (Joint Venture and Production Service Contract Case Studies)