(713) 206-9355

Joint Venture & Partnership Auditing – Acquisition Due Diligence, Consulting, Special Project & Solutions.

Parent Company of Poole Auditing Consultants

Audit Programs

Poole Audit will design a customized audit or work program specifically created for your audit, consulting, and special project needs. We will diligently to serve your needs while always keeping in mind quality of service and economics for the client. As standard service, every audit and consulting service project will be managed through our Microsoft SharePoint and One Drive programs in the Cloud. We maintain all the latest software versions through our company wide subscription services with Microsoft Office 365, Acrobat and Citrix ShareFile.

Below is an example of an Audit Program for an exploration production project:

AUDIT PREPARATION

Schedule audit with Operator
Confirm & issue scope letter
Working Interest Owner Ballots
Review Relevant Contracts, COPAS, AFEs, etc.
Request Jade
Issue Voucher List

AUDIT PROGRAM PROCEDURES FIELD WORK

Brief relevant Contract terms
Review Operator’s Well file
Schedule Daily Reports
Review vouchers for compliance
Reconcile Tangibles & Consumables
Prepare Exception Report
Closing conference with Operator

AUDIT REPORT

Review and submit Draft Audit for client approval
Complete detail and work papers for file
Publish report for client/operator
Follow up as requested

TYPICAL EXPLORATION AUDIT WORK PAPERS

Original Jade
Audit Work Paper –
Vendor Document Listing
Information Request Log
Exception Schedule with Descriptions and $$
Schedule of Working Interest Owners
Bit Reconciliation Schedule
Rig/Contract Analysis
Consumable Reconciliation
Drilling Report Analysis
Tubular Reconciliation
Overhead Reconciliation

Audit Services, Joint Interest and Consulting Services

Construction Audits
Vendor Audits
Revenue Analysis & Audits
Acquisition & Divestiture Analysis and Audits
Acquisition Cutoff Audits
Analyze Property Acquisitions
Analyze Business Revenue & Expenses
Litigation Support, Personal & Business
Settlement Conference Services and Support

Construction Audit

Contract Analysis
Insurance Requirement Analysis
Material Equipment Reconciliation
Vendor Contract Terms & Pricing Analysis
Labor Expenses Analysis
Reconcile Contract Terms to Actual
Audit Expenditures

Vendor Audit

Review Vendor Service Agreement
Confirm Vendor Contract Pricing
Audit Vendor Labor Rate Payroll Expenses
Review Vendor Personnel Drug Policies, Implementation and Testing
Review Vendor Personnel Training and Employee Certifications Where Applicable
Review Vendor Personnel Expense Reports
Test Vendor Invoices for Accuracy
Reconcile Vendor Provided Services, Materials, Equipment

Revenue Analysis & Audits

Analyze Controlling Agreement & Service Contracts
Schedule Production Information
Request and Review Revenue Statements
Confirm Production Pricing
Analyze Deductions
Analyze Transportation Fees

Acquisition Divestiture

Analyze Purchase and Sale Agreement
Confirm Expenses Budgeted Versus Actual
Confirm Revenue Budgeted Versus Actual
Prepare & Review Trend Analysis
Review Policies and Internal Controls for Effectiveness and Implementation
Confirm Insurance Requirements & Implementation

Acquisition Cutoff

Analyze Purchase and Sale Agreement
Scope and Analyze the Population to be Reviewed
Audit Expenditures for the Effective Date of Sale
Audit Revenue for the Effective Date of Sale
Identify & Document Prior Period Expenses & Revenue

Analyze Property Acquisition

Review Purchase and Sale Agreement
Review Terms and Condition of the Property Type Description
Review & Inventory Assets Include and Excluded in the Sale
Review Property Taxes
Review Insurance Requirement
Onsite Visit to Confirm Description, Assets and Value

Analyze Business Revenue & Expenses

Review Prospective Acquisition Agreement
Schedule Inventory of Material Assets and Equipment
Manage and or Provide Appraisal of Material Assets & Equipment
Manage and or Provide Appraisal of Real Property
Audit Business Income and Expenses Monthly and Annually
Review Owner & Management Originated Business Expenses & Expenses Reports
Obtain and Review Business Tax Returns Federal & State 3 Years

Audit Programs

Audit Programs

AUDIT PREPARATION

AUDIT PROGRAM PROCEDURES FIELD WORK

AUDIT REPORT

TYPICAL EXPLORATION AUDIT WORK PAPERS

Audit Services, Joint Interest and Consulting Services

Construction Audit

Vendor Audit

Revenue Analysis & Audits

Acquisition Divestiture

Acquisition Cutoff

Analyze Property Acquisition

Analyze Business Revenue & Expenses

Litigation Support Personal & Business

Settlement Conference Service & Support

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