This is the tenth and final question in the list of ten questions to ask your auditor if you are a Canadian based oil and gas company. The original post can be found here.
How will your auditors ensure your Cash Generating Unit’s will be authenticated?
Believe it or not, there are companies that do not know that they own an oil or gas well(s). This is due to numerous reasons, but suffice to say, without going into detail, it is true.
If you can't authenticate that you own a well, then how would you be able to ensure that your cash generating units are authenticated.
These opinions are mine and may not reflect your view. If you would like to contact me, then please feel free to do so at info@argentis-group.com. Argentis Group assists oil and gas companies with operational audits to identify areas to reduce costs, increase revenues and increase the overall asset value of an oil and gas company.
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