AAB encouraged us to submit an R&D tax relief claim. The team clearly understand the process to allow that to happen and were tremendous assistance in facilitating our submissions.
Adrian Smith, Scotia Instrumentation Limited
Joint Venture: Contract Auditing Services
Joint Ventures are common amongst non-operating and operating partners in the Energy Sector to mitigate risks and spread costs. Even with well-constructed agreements, discrepancies can emerge which our auditing services will identify and correct.
Graeme Robertson
Audit Director
Who we can help
- OIL & GAS
- EXPLORATION & PRODUCTION
- OILFIELD SERVICES
How we can help
- JOINT VENTURE & CONTRACT AUDITING SERVICES
- CONTRACT/VENDOR AUDITING SERVICES
- COMPLETION ACCOUNTS
- DRILLING AUDITS
- VIRTUAL FINANCE FUNCTION
- TRANSACTION SUPPORT
- LITIGATION SUPPORT
- FRAUD PREVENTION & INVESTIGATION
SPECIALIST AUDITING SERVICES FOR ENERGY JOINT VENTURES
Find out more about our experienceAccurate audits are essential for joint venture projects, particularly in the energy sector where substantial costs are the norm. Our joint venture auditing services will give you the reassurance that agreed practices are being adhered to. If they are not, then there is the potential to recover significant amounts.
Effective joint venture audits require a thorough knowledge of the industry and how it works. Our joint venture audits are provided by a team of specialists with extensive experience of energy projects in upstream oil and gas. Through supporting clients worldwide, and by establishing relationships with operators based on mutual trust and respect, they consistently deliver prompt and dependable auditing services.
COMPREHENSIVE SERVICES
- Whilst joint venture audits are our core activity, our services extend beyond this so we can deliver a full range of practical support. We also provide:
- Contract/Vendor Audits
- Drilling Audits
- Completion Accounts
- Through integration with AAB’s other teams, that extends to other relevant and beneficial services such as:
- Virtual Finance Function
- Fraud Prevention and Investigation
- Transaction Support
- Litigation Support
What’s most important of all, of course, is providing exactly the service you want. Our flexible approach means we will dovetail with your needs, for example in what we deliver in our Contract Audits. You may want us to focus more on identifying and recovering overcharged costs, to concentrate more on the vendor’s controls and procedures or to combine both services in one all-inclusive audit. Your requirements come first and we will tailor our response accordingly.
The Corporate Finance team at AAB understood our business and led us towards concluding a tremendous deal. The team at AAB were thorough, proactive and efficient showing command and control of all the key elements of getting a deal done.
Keith Wallace, EPC Offshore
I was particularly impressed by AAB’s appreciation of the strategic importance of the deal. Additionally, the AAB team quickly understood the very complex structure of the target and were pivotal in advising on how best to approach this.
Ross Baxter, Harbro Limited
We now have access to AAB’s online dashboard system which is providing the business with a real opportunity to identify cost and assist in the global mobility planning process. The solution implemented has been truly customised for us.
Witland LeBlanc, Oceaneering
EASING THE PRESSURE
- Maintaining a productive working relationship with your chosen operators is crucial, so bringing us in as independent auditors allows you to remain separate from the probing, often critical investigations required for a candid and accurate auditing service. It also eliminates the workload and internal costs associated with using your own people to conduct the audit.
- We will take a diligent, non-partisan stance on reviewing, monitoring and negotiating on contract compliance, disputed payments and cost recovery. We investigate procurement and cost allocations and interview managers to determine how operators have arrived at their accounting figures. By highlighting to the operators any potential improvements in their accounting procedures through the latest industry best practice, we can help achieve mutual benefits and enhance relationships, making it easier for you to collaborate with them on future projects.
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