AD Valorem Tax Audits – 2027 Services

The Vendor is required to provide ad valorem tax audits for 2027 the option to renew for up to four additional years will be considered.
- These audits are essential to maintaining fair and equitable property valuations and ensuring proper tax assessments.
- Services of a licensed and experienced professional firm with demonstrated expertise in council of petroleum accountant’s societies (COPAS) accounting procedures.
- Responsibility
• Verify the accuracy of reported oil and gas production volumes.
• Audit netback expense report forms (nerf) for completeness and compliance.
• Identify and document discrepancies or inconsistencies in operator filings.
• Ensure compliance with statutory procedures and state assessor reference library standards.
• Support accurate valuation and taxation.
- Data analysis:
• All data received must be fully reconciled to the filed declaration and nerf.
• Revenue, related‑party, and unrelated‑party data will be analyzed to identify anomalies, trends, and materiality thresholds.
• Based on exposures identified during the analysis, the proposer will select appropriate audit tests.
• Expense data must be reviewed to develop an audit strategy that effectively and efficiently evaluates netback deductions using sample‑based testing, including extrapolation of findings where appropriate.