Joint Interest Audit (Denver)

Event Description

 COPAS Energy Education

Joint Interest Audit
Hosted by
Denver September 19, 2017 – 8AM to 5PM
Concourse Level Republic Plaza
370 17th Street, Denver, CO 80202
Program Level: Intermediate                        Delivery: Group Live         
CPE Credits:                                      Advance Prep: None            
Field of Study: Auditing                    Instructor: Deb Retzloff
Cost: $350
Prerequisites: Some Joint Interest Accounting Experience preferred
Refreshments and lunch provided.

This course is provides a basic overview and indepth look of Joint Interest Audit Accounting procedures and process (excludes Revenue & Payout).  This course will provide accountants and other petroleum players with an understanding of the necessary functions and operations for Joint Interest Auditing.  Ideally individuals will have prior training courses related to Joint Interest Accounting and Operations or comparable industry experience, including a competency understanding key provisions in a COPAS model form accounting procedure.
DESCRIPTION: This course covers the following topics:
  • Audit rights
    • Principles of defining an audit
    • Roles & Responsiblities
    • Confidentiality Agreement
  • Audit preparation throughout the Audit – Auditor
    • Activities & Communications protocol
    • Balloting
    • JADE Analysis
    • Well Activity Summary
    • Rules of Engagement & Response Guidelines
  • Audit preparation throughout the Audit – Host
    • Activities, Communication, & Requests
    • JADE
    • Checklists
  • COPAS Publication References on the Audit Trail
    • Analyze appropriate COPAS Publications
    • Key audit focus areas
  • Auditing Tools and tips of the trade
  • COPAS Model Form Accounting to Evaluate Direct Costs
  • Labor, Overhead, Source, and Services Provisions
  • Evaluate Drilling Contracts
  • Practical side of Reconciliations
    • Reconciliations
      • Well Drilling
      • Overhead Data
      • Available Data &
      • Surface Lease Equipment
OBJECTIVES: Upon completion of this course, you will be able to:
  • Demonstrate an ability to conduct a joint interest audit
  • Apply principles of contract interpretations and be prepared to justify position for audit exceptions submitted
  • Recognize the contractual basis for the audit function
  • Determine the best tools to utilize for your contract compliance review needs
  • Apply concepts in tips and tools of the trade
Council of Petroleum Accountants Societies (COPAS), Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its
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