Oil and Gas Industry Assurance Services
McKinnon Patten & Associates LLC helps clients identify governance, risk management and compliance information needs for both stakeholder reporting and operational monitoring in every area of the company.
We evaluate the source and quality of the data to support the information needs and, after considering cost and other factors, recommend processes, organization and use of technology for obtaining and preparing data and delivering timely information.
We evaluate the controls put in place by management to mitigate financial reporting risks. We review external reporting for transparency consistent with the internal information that management uses to run the business.
We take a risk-based approach that focuses on the drivers of the business, the associated risks and their potential effects on financial statements. Our clients benefit from our professionals who have subject-matter experience on the wide variety of accounting and regulatory issues that companies in the oil and gas industry face.
We invest in knowledge and communication networks that give our professionals access to up-to-the-minute information and the tools to execute efficient, insightful assurance engagements.
We can provide assistance on many of your current critical issues, including implementation of new accounting standards, accounting experience during financial due diligence, accounting control or process support.
Our professionals can help you investigate unusual financial activity, perform electronic evidence discovery and review financial reports along with corporate compliance — all with the sensitivity and urgency you require. And we provide expert witness testimony as necessary to explain our findings.
Our team is trained to understand and respond to the unique needs of the oil and gas industry. We assist producers, operators, drillers and explorers involved in all phases of the extractive process from exploration, to drilling and production. Our goal is not only to minimize your tax liability, but also to help you create an effective accounting system that will minimize the necessary work.
One of the key benefits our oil and gas clients receive is a team of professionals who are thoroughly trained in industry-specific issues and accounting treatments. We keep abreast of changes and trends involving all of the petroleum accounting matters – oil and gas reserves accounting, impairments, transactions, revenue recognition, suspended wells, and many others – so that we can provide the best guidance to our clients.
Request a Consultation or call us at 214-696-1922 and speak with Mark Patten today to set up and appointment. We work with a wide range of business throughout the oil and gas industry including drilling, exploration, production and pipeline companies.