The Petroleum Contracts Accounting and Audit Procedures Training Course offered by Imperial Corporate Training Institute teaches advanced skills for accountants and auditors who work with petroleum companies. Course participants will receive extensive training on upstream accounting principles in the petroleum industry and have an opportunity to develop their knowledge of the systems for managing financial resources, managing contracts, and complying with regulations in the oil and gas business.
Using a combination of case studies, examples of best practices in auditing, and examples of effective financial control methods, trainees will learn how to properly manage complex petroleum contracts, utilize good auditing practices, and maintain adequate financial controls. This course emphasizes both theoretical principles as well as applied methodologies so that participants can make informed decisions, minimize risk, and maintain the integrity of the petroleum industry’s accounting and auditing functions.
Objectives
Attendees will be able to:
- Gain a deeper understanding of the principles of upstream accounting as they apply specifically to petroleum contracts by expanding your knowledge of both financial controls and internal audit procedures utilized in the oil & gas industry.
- You will develop greater capabilities in auditing petroleum contracts, joint venture arrangements and cost recovery mechanisms.
- Understanding of the regulatory and compliance requirements for petroleum accounting.
- You will also be able to implement practical methods on how to prepare financial statements, perform risk assessments and complete audit documentation.
Target Audience
- Finance and accounting professionals in the oil and gas sector, including internal and external auditors responsible for auditing petroleum contracts
- Contract managers and legal professionals who manage petroleum agreements
- Compliance officers and financial controllers working within the upstream oil and gas sector
- Anyone who is interested in learning about specialized audit procedures and developing financial controls in order to effectively audit petroleum projects.