About this Training Course
This 1-day course outlines fundamental auditing concepts, principles and practices specific to the international exploration & production sector. Course participants will gain an overview of the risks faced by E&P companies and what type of audit to conduct in order to mitigate these risks. The course will provide insights into joint venture audits, vendor audits and internal audits.
For related courses, please see: https://www.petroedgeasia.net/training/psc-joa-auditing-in-upstream-oil-gas-3-day-course/.
- Understand key risks faced by exploration and production companies
- Understand the need for audits
- Understand the types of audits that can be performed to address the key risks
- Understand fundamental audit processes and procedures within each type of audit engagement
This course will benefit:
- Finance professionals without an audit background who are new to the Oil & Gas industry
- Industry regulators who want to gain an understanding of the audit process
- Commercial managers who want to better understand the audit process
- Treasury and tax specialists who want a broader understanding of the auditing issues
This course will have a blended learning approach comprising lecturing, questioning, group discussion, storytelling, and workshop/worked examples. There will be special emphasis on helping participants to understand the possible scenarios and challenges they may face, and how they may be dealt with back at the workplace.
Your expert course leader is a Chartered Accountant in Australia and New Zealand with more than 15 years’ experience in the extractive industries. He is the Founder and Managing Director of a specialist consultancy providing management consulting and governance services to the oil and gas industry. He is also a Partner at a Houston based oil and gas management consulting firm.
In his consulting career, he has been involved in the audit of some of the largest projects in Australia including the North West Shelf, Browse, Wheatstone and Ichthys. He has also undertaken various audit assignments in Africa and Asia representing international oil and gas companies. This has involved leading teams of international auditors from around the world. These engagements typically involve a comprehensive knowledge of joint venture accounting, joint operating agreements, production sharing contracts, drilling operations, vendor contracts and costing methodologies. The larger projects have complex overhead allocation issues and require particular focus on the allocation of drilling costs such as rig charges, supply vessel costs, fuel charges, drilling materials (casing, drilling fluids, cement, etc.) and other drilling services.
Prior to starting his own company, he has held the role of Financial Controller at Tribune Resources at a time when the company was transforming from a junior explorer to a highly profitable producer. He also spent a decade in academia holding the position of Associate Professor of Accounting at the University of Western Australia until late 2014. Prior to UWA, he worked at Curtin University. The academic roles involved both teaching and research in accounting and auditing. He is currently Adjunct faculty at the University of New South Wales in the MBA program.
He has extensive experience with executive education. He has taught senior executives of CNOOC (Chinese National Oil Company) courses in joint venture accounting and auditing. He has taught senior executives from BHP Billiton, Horizon Power, Clough Engineering, Deloitte Consulting, among others, courses in accounting and financial management for executive with non-finance background. He has also conducted audit seminars for senior management of the Australian Taxation Office.
He has been involved as a workshop and Masterclass facilitator with the Chartered Accountants post-graduate program in Australia and Asia since 2001. He has delivered training in a diverse range of topics such as financial reporting, strategic management accounting, applied finance and auditing.
He is a graduate of the University of Western Australia with a BCom(First Class Honours) and has a PhD from Curtin University. He is an active member of the Institute of Chartered Accountants Australia and New Zealand.