Petroleum Cost Auditing, Cost Engineering and Accounting Training to the Ghana Revenue Authority (GRA)
The DFID-funded Ghana Oil and Gas for Inclusive Growth (GOGIG) programme and Ghana’s Inter-Agency Modelling and Analysis Team
(IMAT) wanted to improve the understanding of the Petroleum Directorate of the Ghana Revenue Authority (GRA) on petroleum cost accounting and cost-engineering and its application to their ongoing auditing of Oil and Gas Operations.
Crystol Energy on behalf of ABIS Energy, organised and delivered a training course in Ghana to improve the capability of the GRA in cost accounting and auditing towards enhancing revenue capture. The training aimed to deepen the understanding and develop the analytical skills of the GRA concerning upstream oil and gas economics, taxation, cost accounting and cost auditing. The course covered the methods of analysis in upstream oil and gas project economics, including cost accounting and taxation, as well as building cash flow models and performing benchmarking studies using the Ghana Petroleum Revenue Model (GPRM).
The course combined principal and practice, participants actively engaged in case studies and group discussions. 25 staff from the Petroleum Unit, Transfer Pricing Unit and Main Audit Department of the GRA actively participated in the training. About 60% of the workshop participants said they would be using the skills and knowledge acquired in the course to carry out auditing of oil and gas activities and companies while 27% would apply them for data reviews and verifications and another 13% for performing benchmarking analysis.