National oil company upgrade systems generating savings

Our Approach 

• Transition the client’s existing outsourcing arrangement before establishing a secure extranet for invoice approval and data transfer 
• Upgraded technology to provide a fully outsourced accountancy service which includes monthly management accounts 
• Carry out all compliance and statutory reporting using AAB E&P expertise 
• Provide auditor liaison and advice on UK secondments / employment tax issues 
• Revised procedures on cash management, placing substantial funds on deposit 

 The Outcome 

• Joint Venture Audit services generating significant savings by identifying incorrect charges to the venture 
• Peace of mind for the client with the AAB expert E&P team 
• An improved relationship with the operator through “talking the same language” 
• Accurate monthly reporting