Townsway

November 2024

Accounting for Environmental Liabilities in the Oil and Gas Sector

The oil and gas industry is one of the most scrutinized sectors for its environmental impact, facing unique challenges in managing and accounting for environmental liabilities. As environmental regulations become more stringent worldwide, accurately accounting for environmental costs, such as cleanup, restoration, and compliance, is crucial for both financial integrity and regulatory compliance. In this […]

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The Importance of Internal Controls for Fraud Prevention in the Downstream Oil and Gas Sector

In Nigeria’s downstream oil and gas sector, fraud prevention and financial integrity are essential for maintaining the trust of stakeholders, regulatory compliance, and overall business sustainability. This industry faces unique financial risks that require careful attention and robust internal controls. Implementing effective internal controls can not only deter fraudulent activities but also ensure audit readiness

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How to Prepare for a Financial Audit in the Downstream Oil and Gas Sector in Nigeria

Financial audits are a critical aspect of maintaining transparency, compliance, and operational efficiency in any business, especially within the downstream oil and gas sector in Nigeria. This sector is highly regulated and faces unique challenges that require meticulous financial oversight. Preparing for a financial audit can seem daunting, but with the right strategies, you can

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