Inventory s a major risk area in business, and engaging independent experts to periodically audit inventory processes, controls and physical counts is critical to providing assurance.

Oil and gas exploration, appraisal, development and production operations depend heavily on constant and continuous supply of material inventory hence the huge investment in this single balance sheet item by JV partners. Accurate records and assurance are key management concerns.

We understand these inventories are specialised in nature and require knowledge, experience, and familiarity in auditing them. Our practice therefore assigns Joint Venture (JV) auditors to observe inventory count and verify inventory values and provide detailed reports of all observations made.

We represent non-operators on annual JV inventory counts, and may upon engagement by an operator, provide assurance on JV inventory values to JV partners.