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Upstream Contracts Audit

5 days GIP/UCA
Level
Proficiency
Audience
  • For upstream personnel who will conduct joint-venture audits, or will be audited by partners in a joint-venture, for State auditors in charge of auditing Oil & Gas contracts, for executives who look for a comprehensive understanding of issues linked to contractual audit.
Purpose
  • This course provides participants a detailed understanding of principles and methods of upstream contracts audit.
Learning Objectives
  • Upon completion of the course, participants will be able to:
  • prepare and lead a contractual audit,
  • identify the risks related to accounting in Oil & Gas industry,
  • set up an audit structure.
Prerequisite
  • Basic knowledge of the contractual and financial framework of E&P and/or a minimum 5 to 10 years’ experience in financial functions in the E&P sector.
Ways and means
  • Case studies and exercises based on recent industrial cases.

Contractual accounting 1 day
  • Joint Operating Agreements and accounting appendix.
  • Upstream tax issues.
  • Production Sharing Contracts (PSC) and accounting procedures.
  • Joint costs and recoverable costs.
  • At cost principle and implementation.
  • Bases of operator's cost accounting.
Specificities of joint venture audit 1.5 days
  • Audit rights.
  • Organization of the audit: partners, operator.
  • Auditing respect of at cost principle.
  • Exercises.
Specificities of state audit 1.5 days
  • Audit rights.
  • Organization of the State audit, auditors qualification.
  • Articulation between joint-venture audit and State audit.
  • Key elements of contract and accounting procedure.
  • Case study.
Conducting a contract audit 1 day
  • Audit preparation.
  • During the audit.
  • Conclusion of the audit.
  • Audit supervisor role.
  • Audit report and follow-up.
2017 course calendar
Language Dates Location Tuition Register
May 29 - Jun 02 Rueil €3,580 Online By email
Dec 04 - 08 Rueil €3,580 Online