Oil & Gas Services

The regulatory and reporting landscape is particularly complex for oil and gas companies. The geopolitics and mix of energy, natural resources and environmental issues add to the complexity for this industry. Oversight boards require more rigorous financial disclosure and demonstration of robust corporate governance. Cash management solutions driven by technology and opening markets, as well as complex tax and funding structures requiring careful management. There is an increased pressure on financial officers to demonstrate that risk identification and financial management are grounded in timely, accurate forecast and performance data on which top management can base strategic decisions.

With record high gas prices and replacement reserves located in challenging locations, oil and gas companies are changing to address the market conditions. Companies must contend with the changing regulatory requirements involving governance and reporting issues. In addition, the advent of International Financial Reporting Standards and section 404 of the Sarbanes-Oxley Act for US registrants has added to the challenges. All of this involves the need for a vigilant eye over corporate governance, internal audit and external reporting.

Reliant Financial Consulting assists clients in developing a disciplined risk management framework which enables them to meet performance and risk objectives, resolve uncertainty and achieve their financial goals. An effective risk management program fulfills an organization's desire to optimize the balance between risk and return. The objective of an effective risk management program shouldn’t be to eliminate risk, but rather to provide companies with the tools to not only identify, measure, respond, but manage risk and environmental challenges as well.

Reliant Financial Consulting has developed teams of expert professionals and our growing client base attests to our ability in consistently delivering cost-justified, quality value-added accounting, audit, compliance and risk management services. Continued client satisfaction is the first priority at Reliant.

We offer a broad array of risk management and consulting services for the Oil & Gas industry some of which includes:

  • Evaluation, development and execution of internal audit programs.
  • Enterprise-wide organizational assessments as well as appraise accounting policy | procedures for compliance with SOX and GAAP.
  • Foreign Corrupt Practices Act prevention and remediation services
  • Analysis of operational risk management processes and measurement methodologies.
  • Examination and validation of current controls, implementing additional key controls as needed to mitigate risks.
  • Development of transfer pricing strategies for cross-border sales.
  • Merger and Acquisition due diligence and post acquisition accounting integration
  • Development of programs to reduce time and expense associated with annual physical inventories.

Communication and implementation of changes and trends involving petroleum accounting such as:

  • Reserves Accounting and Depletion Methodologies
  • Revenue Recognition
  • Intangible Assets
  • Fixed Assets

Reliant - Offers Effective Risk Management