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Vendor Audit: A Necessary Assessment

A vendor audit is performed for a company that aims to attain an objective assessment of its contractors’ or vendors’ compliance to the terms,

Comment Letters Surrounding New Revenue Recognition Standard Reveal Issues

Public energy companies are now one year in on their implementation of ASC 606, Revenue From Contracts With Customers, the revenue recognition guidance

ASC 842 Expected to Impact Natural Resource Sector

Accounting Standard Codification (ASC) Topic 842 - Leases, the new FASB lease accounting standard aimed at closing a major concern of stakeholders in lease

Defining UBIA for Oil and Gas Producers

One of the most impactful changes resulting from 2017’s Tax Cuts and Jobs Act was the introduction of the deduction for qualified business income
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Qualified Business Income and Percentage Depletion Interaction

The Tax Cuts and Jobs Act (TCJA) of 2017 brought about many changes in the tax code, including the introduction of new provisions. Luckily, deductions

Impairment Considerations for the Energy Sector

As witnessed, the latter months of 2018 saw a dramatic downturn in oil prices. According to the U.S. Energy Information Administration, the West Texas

PCAOB Adopts New Standard on Auditing Accounting Estimates

The Public Company Accounting Oversight Board (PCAOB) adopted a new standard on auditing accounting estimates. The standard is in response to the increasing

Transportation and Logistics to Continue Strong, if Slower, Growth in 2019

The bustling U.S. economy – led by robust consumer spending and energetic demand on durable industries like construction, manufacturing and mining
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Understanding Cyberthreats in our Energy Infrastructure

Cybercrime Motive Most cyberattacks are simply motivated by money – revenue from cybercrime has reached nearly $1.5 trillion per year. The majority

Impact Fee Imposed by Pennsylvania Supreme Court

The Supreme Court of Pennsylvania issued its decision in Snyder Brothers, Inc. v. Pennsylvania Public Utility Commission, ruling that impact fees applied
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