IAAS takes pride in conducting a range of auditing and accounting services to the Oil & Gas industry.
Our services include:
Our team consists of high calibre consultants, who have extensive experience gained in management positions within the industry prior to commencing new careers as audit consultants.
We can provide a complete outsourced joint venture audit or contract audit service or can provide individual consultants to act as client representatives on specific assignments. Our scope of work includes:
- Audit risk assessment
- Specification of audit programmes and scopes
- Audit fieldwork
- Preparation and distribution of audit reports
- Audit follow up and reporting.
IAAS uses programmes and procedures designed to test and verify compliance with:
- Joint operating agreements and related accounting procedures
- Production sharing agreements
- Transportation and production sharing contracts
- Construction and Tie-in Agreements
- Farm-in agreements
- Other Industry Agreements
- Contract scope and remuneration clauses.
Our consultants have worked with numerous international oil & gas companies, ranging from new entrants to the majors. We would be pleased to manage the entire Joint Venture Audit process on your behalf by liaising with you, the Operator and other Joint Venture Partners. A summary of our process is:
- Produce and agree the Audit Scope prior to the audit assignment
- Prepare for the Audit and discuss any perceived material risks with you.
- Provide interim reports, if requested, during the Audit
- Issue the Audit Report at the end of Audit Fieldwork
- Manage the open Audit Issues until agreement is reached
- Bring the Audit to a conclusion by ensuring recovery of all agreed credits resulting from the Audit. Reaching agreement with the Operator where the Operator’s systems and procedures require improvement