OIL & GAS ACCOUNTING AND FINANCE AUDITING
Course Content
- Audit Principles
- Origin & Types of Audits
- Controls: Authorisation, Supervision, Procedures, Reconciliations & Physical, Review/Inspection
- Risk & Risk Analysis
- Audit Planning
- Audit Techniques
- Review of Audit Process
- System BASED Approach
- Systems Auditing
- Interview
- Block Diagrams
- Flow Charting
- Testing, Sampling & Reporting
- Internal Audit
- Definition of Internal Audit
- Development of Internal Audit
- Corporate Governance
- Internal Audit Charter
- Independence & the Audit Process
- Joint Venture Agreement
- Joint Operating Agreement (JOA)
- JV Accounting Procedure
- 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
- 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)
