This course provides participants a detailed understanding of principles and methods of upstream contracts audit.
Public :
Auditors and upstream professionals 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.
Level :Skilled
Prerequisite :
Basic knowledge of the contractual and financial environment of E&P.
Course Content
CONTRACTUAL ACCOUNTING
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
Audit rights.
Organization of the audit: partners, operator.
Auditing respect of at cost principle.
Exercises.
SPECIFICITIES OF STATE AUDIT
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
Audit preparation.
During the audit.
Conclusion of the audit.
Audit supervisor role.
Audit report and follow-up.
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.
Ways & Means
Case studies and exercises based on recent industrial cases.
To French entities : IFP Training is referenced to DataDock ; you may contact your OPCO about potential funding.
Please contact our disabled persons referent to check the accessibility of this training program : referent.handicap@ifptraining.com
IFPT Account
