|AUDIT OF MINERALS & HYDROCARBONS
Alex Stewart International offers a comprehensive operational auditing program of the mining and oil extraction industries to assist governments in the accurate determination of the amount of royalties and taxes due from the companies operating in the country and in the environmental preservation of the extraction areas.
The purpose of the Mineral and Hydrocarbon Auditing Program is to safeguard the country's interests by effectively checking if the declarations of the mining and oil extraction companies are thorough and correct, and not omitted or misstated either willfully or by mistake. Due to the complex nature of oil extraction and large mining operations, tax authorities usually lack the technical expertise to delve
into the operational and financial complexities of those companies.
• Determines the quantity and quality of exported products to establish their market value and assess the companies' income and royalties due. Alex Stewart International auditors witness the production and exportation of the mineral and oil products and collect samples which are analyzed by the company's in-country laboratories to determine their precise composition.
• Audits the capital investments and operating costs of mining and oil extraction operations to assess if their tax write-offs based on declared expenditures are correct. Determines if any tax exemptions claimed by the companies are proper.
• Performs an ongoing audit of the environmental impact and contamination caused by the mining and oil operations and assesses the investments and operational measures taken to prevent and control any correlated damage.
• Produces comprehensive audit reports for the client government and provides technical support to generate regulations and resolve disputes with the mining and oil companies. Trains government personnel to improve its control upon the mining and oil industries.
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