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    Internal Audit for Oil & Gas

    Driving Transparency, Efficiency & Compliance

    Enhance governance & safeguard operations with MBG’s specialized Internal Audit in Oil and Gas. From risk identification to process optimization, we deliver insights that strengthen controls and improve decision-making.

    Our Comprehensive Internal Audit Support for Oil & Gas

    MBG Corporate Services provides an extensive range of practical, hands-on support that can make your internal audit a source of measurable value in addition to compliance. Our support services are meant to address real challenges that the oil and gas industry experiences

    Operational Risk Reviews

    Determining gaps in exploration, production, logistics, and supply chain processes.

    Regulatory & Compliance Assurance

    Checking adherence to HSE, ICV, ISO, and local oil & gas regulations.

    Financial Controls Testing

    Validating cost recovery, JV accounting, and expense allocations.

    Fraud Risk & Forensics

    Detecting irregularities, investigating potential fraud, and strengthening safeguards.

    Governance & Reporting Enhancement

    Improving reporting structures, board-level visibility, and transparency.

    Implementation & Monitoring

    Supporting corrective actions and embedding continuous improvements.

    Internal Audit Process in Oil & Gas

    Behind every engagement is MBG’s structured audit methodology-a disciplined approach that ensures consistency, transparency & reliability.

    1

    Risk Identification

    Mapping operational, financial, and regulatory risks specific to oil & gas.

    2

    Audit Framework Design

    Building a tailored plan aligned with IIA and COSO standards.

    3

    Evidence Gathering

    Collecting documentation, interviewing stakeholders, and reviewing processes.

    4

    Testing & Analytics

    Applying data-driven techniques to evaluate control effectiveness.

    5

    Reporting

    Delivering clear findings with prioritized recommendations.

    6

    Follow-Up

    Tracking remediation and ensuring sustained improvements.

    Our Expertise in Internal Audit for Oil & Gas

    With over two decades of experience, MBG brings unmatched knowledge of the internal audit in the oil and gas industry. Our auditors understand the technical, financial, and regulatory challenges unique to upstream, midstream, and downstream activities.

    We provide assurance across areas such as:

    • Joint venture audits
    • Cost recovery validation
    • HSE compliance audits
    • Procurement & contract audits
    • Supply chain and logistics reviews
    • Fraud risk assessment and forensic audits
    IMG

    The MBG Advantage

    IMG
    • Specialized Oil & Gas Expertise
    • Proven track record in auditing complex exploration, production, and refining operations.

    • Cross-Functional Advisory
    • Access to in-house experts across legal, tax, risk, and compliance.

    • Global Standards, Local Knowledge
    • Internal audit frameworks aligned with international standards (IIA, COSO) and regional regulations.

    • Technology-Enabled Auditing
    • Advanced data analytics to identify patterns, inefficiencies, and anomalies.

    • Sustainable Risk Management
    • Focus on embedding long-term improvements, not just compliance.

    FAQs

    Why is internal audit important in the oil & gas industry?
    It helps organizations identify risks early, ensure compliance, strengthen internal controls, and improve efficiency across complex operations.
    How does MBG add value beyond compliance?
    Can MBG support joint ventures and cost recovery audits?
    Do you use technology in the internal audit process?

    We're here
    To help you.

    Submit your enquiries to MBG Corporate Services. We will respond as soon as possible.

    Call us at: +971 52 640 6240

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