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FREE Special Report

Special Report

Challenges Facing Oil and Gas Auditors

The United States is not only the biggest consumer, but also the biggest producer in the world of petroleum and natural gas. These producers can range from larger publicly traded companies to smaller nonpublic companies. An audit of the financial statements for oil and gas producers is often required because the entity is a public company with stock traded on a national exchange or the entity has debt requiring audited financial statements.

Oil and gas entity audits are an important niche for many CPA firms, but these audits are very different from most for-profit company audits. In the current economic environment with significantly lower oil and gas prices, risks associated with these audits are exacerbated. This special report addresses these unique considerations and what auditors should be aware of when performing oil and gas audits.

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NEW! PPC’s Practice Aids for Audits of Oil and Gas Entities

Audits of oil and gas entities warrant specialized tools to address their unique audit and accounting requirements. PPC’s Practice Aids for Audits of Oil and Gas Entities provide auditors with the audit programs, checklists, confirmations and auditor’s reports needed to perform audits of nonpublic oil and gas exploration and production entities in an effective and efficient manner. These Practice Aids provide a complete, tailored solution that is consistent with the PPC audit process with which you are already familiar and are the only audit materials available on the market specifically tailored for use on oil and gas audits.

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