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AG-21 Revenue Audit Protocols

This is the companion document to the AG-19, Expenditure Audits in the Petroleum Industry: Protocol and Procedures Guidelines and addresses protocol and procedures for revenue audits.  Revenue audits are not specifically addressed in existing COPAS Accounting Procedures, except in the 2005 Model Form as relating to payout audits.  The only mention of revenues in most joint venture contracts is in the provision of the Operating Agreement relating to the right to take production in-kind, or in a gas balancing agreement associated with the Joint Operating Agreement. 32 pages. Rev. 1985.

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AG-21 Revenue Audit Protocols

SKU AG-21 Categories ,

Description

Table of Contents

  1. FOREWORD
    1. General Comments
    2. Purpose of Revenue Audits
    3. Determining Audits to be Performed
    4. Technology and Audit Data
    5. Audit Provisions
    6. Confidentiality Agreements
    7. Parties Involved in Revenue Audits
  2. SEQUENCE OF AUDIT EVENTS
  3. AUDIT PROTOCOL
    1. Initiating and preparing for the audit
      1. Audit Lead
      2. Auditee
    2. During the Audit
      1. Audit Lead
      2. Audit Team
      3. Auditee
      4. Audit Effectiveness Questionnaires
    3. Audit Resolution
      1. Auditee
      2. Audit Lead
      3. Audit Participants
      4. Audit Resolution Meeting
  4. PROCEDURE GUIDELINES
    1. Oil and Condensate
    2. Gas and Casinghead Gas
    3. Plant Products
    4. Production Handling Agreements (PHAs)
    5. Audit Report
    6. Audit Costs
  5. Glossary
  6. EXHIBITS
    1. EXHIBIT 1—CONFIRMATION LETTER
    2. EXHIBIT 2—BALLOT LETTER
    3. EXHIBIT 3—AUDIT EXCEPTION FORM
    4. EXHIBIT 4—SAMPLE AUDIT REPORT COVER LETTER
    5. EXHIBIT 5—RADE

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Additional information

Weight 4.0000000035274 oz
Dimensions 11 × 8.5 × 0.025 in
Format

Digital, Printed

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COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.

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OUR MISSION

COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.

COPAS

P.O. Box 21272
Wichita, KS 67208
Tel: 303-300-1131

Contact Us →

CONNECT WITH US

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