Audit Manager - Energy Industry

Summary: The Audit Manager – Energy will lead external audit engagements for clients in the Oil & Gas, Power, and Renewables sectors, applying deep US GAAP expertise to complex accounting, operational, and regulatory matters. The role requires strong experience in derivatives and trading, revenue recognition, reserve accounting, regulated operations, and renewable energy structures. Lead and deliver high-quality, risk-based audits for energy clients across oil & gas (upstream, midstream, downstream) and power (generation, transmission, distribution).

Responsibilities: Engagement Leadership & Client Management Lead multiple external audit engagements for upstream, midstream, downstream oil & gas, as well as power generation, transmission, utilities, and renewable energy clients. Act as the primary point of contact for global team, managing audit scope, timelines, risks, and deliverables. Coordinate with internal specialists (valuation, derivatives, IT audit, tax, regulatory) to address complex audit areas. Communicate audit findings, accounting conclusions, and control observations to client management and those charged with governance. Industry-Specific Technical Responsibilities Oil & Gas Audits Review accounting for exploration and development costs, including capitalization policies and depletion, depreciation & amortization (DD&A) methodologies. Evaluate joint-venture and operated/non-operated interest audits, including partner billings and cost allocations. Assess the accuracy and completeness of reserve estimates, including alignment with SEC reserve reporting requirements and third-party engineering reports. Evaluate linkage between reserve quantities, production data, DD&A calculations, and impairment testing under ASC 360. Review assumptions used in impairment models, including commodity prices, discount rates, and future development costs. Derivatives – Review valuation models for commodity derivatives, including swaps, futures, options, and structured products. Evaluate hedge documentation, designation, and effectiveness testing under ASC 815 (IFRS 9 exposure a plus). Validate mark-to-market calculations, model inputs, and fair value hierarchy classifications. Assess counterparty credit risk, credit valuation adjustments (CVA), and collateral/margining arrangements. Verify revenue recognition for complex power and utility arrangements, including: Capacity payments Energy sales and ancillary services Renewable and conventional Power Purchase Agreements (PPAs) Bundled products and contract modifications Test cut-off, variable consideration, constraint assessments, and allocation of transaction price. Review judgments around principal vs. agent, contract term, and performance obligations. Renewable Energy Credits (RECs) & Incentives Confirm existence, ownership, and valuation of Renewable Energy Credits (RECs). Review recognition timing, accounting treatment, and related disclosures under US GAAP. Validate REC registry data, transfers, and retirement obligations. Assess accounting for renewable incentives and grants, where applicable.

Skills: Proficiency in US GAAP, GAAS, PCAOB standards, and audit methodologies, with strong understanding of technology-specific accounting areas (SaaS revenue, software capitalization, intangible assets, cloud arrangements) Excellent written and oral communication. Strong interpersonal skills. Strong people and project management skills. Team management: Manage a team of at least 25 members (18 Analyst/ Associate and 7 Senior Associates). Problem Solving Skills: Resolve problems of team and Manage escalation emails and calls and resolve the matter.

Education / Professional Experience/ Qualifications: CA/CPA qualified Minimum 7-9 years of progressive audit experience in a medium-to-large public accounting firm or equivalent Big 4 experience a plus