Audit Considerations for Extractive Industries-2013

Audit Considerations for Extractive Industries The growth of the petroleum sector in Africa is escalating. This sector presents a number of challenges for the public sector. The regulatory framework that is needed to ensure a sustainable development of the sector, a fair share of income and an equitable distribution of that income is complex and challenging.This guideline has been developed with the aim of enhancing the institutional capacity of SAIs in understanding how the petroleum sector can be organized in a petroleum producing countries and to assist auditors in performing audits in a more efficient and effective manner.