JI AuditCOPAS Energy Education 

Joint Interest Audit

March 21, 2018 | 8:00 a.m. to 5:00 p.m.

Hosted by Weaver
12221 Merit Drive
12th Floor
Dallas, TX

Register at the bottom of this page.

Program Level: Intermediate                          Delivery Group: Live

CPE Credits: 8                                                  Advance Prep: None       

Prerequisites: Some joint interest accounting experience preferred        

Field of Study: Auditing                                    Instructor: Deb Retzloff         

Cost: $350 $315 through January 31

Refreshments and lunch will be provided.

Description: This course provides a basic overview and in-depth look at Joint Interest Audit Accounting procedures and processes (excludes Revenue and 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.

This course covers the following topics:

  • Audit rights
    • Principles of defining an audit
    • Roles & Responsibilities
    • Confidentiality Agreement
  • Audit preparation throughout the Audit - Auditor 
    • Activities & Communications protocol
    • Balloting
    • JADE Analysis
    • Well Activity Summary
    • Rules of Engagement & Response Guidelines
  • Audit Preparation
    • 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 Service Provisions
    • Evaluate Drilling Contracts
  • Practical side of Reconciliations
    • Reconciliations
      • Well Drilling
      • Overhead Data
      • Available Data
      • Surface Lease Equipment

Objectives: Upon completion of the 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

 

Click here to read the COPAS Complaint Policy

Click here to read the COPAS Refund Policy

 

 CPE SponsorCouncil 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 website: www.nasbaregistry.org.

 

Registration Type: Joint Interest Audit
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