Course Details
Course Outline
5 days course
Understanding Oil and Gas Companies
- Oil and Gas Companies – understanding the industry and the risks
- Oil and gas value chain and significant accounting issues
- Upstream, midstream and downstream activities
- Laws and Regulations
- Emerging Risk Areas
Revenue, Joint Ventures and Reserves
- Revenue recognition – contracts
- Auditing shutdown management
- Auditing Joint Ventures
- Auditing outsourced operations
- Due diligence programs on third parties
- Reserves reporting issues
Fraud, Impairment and Provisions
- Fraud, fraud prevention and detection
- Procurement issues
- An effective internal audit function in oil and gas companies
- Operational audits
- Decommissioning and environmental provisions
- Non-current assets and impairment
Reserves, Financial Instruments and other Issues
- Auditing oil and gas reserves
- Relying on the work of experts
- Financial Instruments
- Other auditing issues
Corporate Governance, Internal Controls and Audit Reports
- Governance issues
- Sarbanes Oxley
- External and Internal Audit Reports
- Corporate Boards – perspective on risk and compliance issues
