REGULATORY AUDITING & ACCOUNTING SERVICES
Adding to the equation is the outstanding group of professionals who are on the Millennium Consulting team. Each was selected for their wide ranging performance audit, evaluation and consulting experiences. Collectively, Millennium Consulting team members have planned, conducted and overseen nearly a thousand performance audits and evaluations in the past. Following is a partial list of the programs, activities and operations of federal, state, and local government reviewed.
• Health Care|
• Environmental Regulation|
• Social Services
• Insurance-Earthquake Coverage
• Oil and Gas
Millennium Consulting's consulting practice focuses on financial and compliance reviews, litigation support and testimony, internal controls, internal audits, and governmental and regulatory filings. Although our principalís background have crossed over various governmental agencies and industries, the main emphasis and focus of the firm remains in oil and gas regulatory compliance and royalty accuracy for its clients.|
For its oil and gas clients, Millennium has performed a wide range of services, including:
• Reviews of policies, procedures, internal controls, and calculations related to - |
royalty rates and payments
oil and gas transportation allowances
crude oil and natural gas valuation issues with respect to federal regulation
gas processing costs
providing litigation support through interpretation of federal regulations for legal opinions
oil production, sales, and inventory accounting
joint interest audits
enhanced thermal recovery
• Perform in-depth analysis of financial accounting systems and subsidiary systems relating to compliance and allowability of costs for royalty allowances and/or reductions.
• Provide litigation support in the negotiation of crude oil and natural gas transportation allowance and royalty payment settlements with the Department of Interior / Minerals Management Service and the California State Lands Department.
• Coordinating regulatory filings and audits, evaluating the application of laws and regulations, and responding to governmental inquiries.
• Provide audit liaison services for clients under federal and/or state regulatory audits, review and analysis of audit findings and supply counter claims.
• Perform compliance audits of client prepared claims for governmental entities to ensure that only allowable costs are claimed.
Millennium Consultingís management and staff have planned, conducted and overseen nearly a thousand regulatory and/or governmental audits and evaluations in the past. Following is a partial list of the programs, industries, activities and operations of federal, state, and local government reviewed.
• Federal Disasters|
• Oil and Gas
• Social Services|
• Earthquake Insurance
• Fraud and Abuse
• Pesticide Regulation
• Health & Welfare
Despite decades of experience and accumulated knowledge, Millennium Consulting has never undertaken an engagement without first asking themselves and their staff, "How can we improve and/or modify our services to ensure that we provide superior client value and individualized services that larger firms do not provide?Ē This passion to continually improve client services, to not be complacent, and to challenge traditional approaches has resulted in significant, measurable and continued improvements in efficiency and effectiveness. The key to a successful engagement for Millennium is the establishment of a unique personal relationship with our clients. This approach has resulted in a situation where Millennium rarely performs single engagements for its clients. Rather, once a relationship is formed, clients generally continue and expand their relationship with Millennium on an ongoing basis. In fact, clients frequently view Millennium as trusted advisors and adjunct staff.|
However, each engagement also provides Millennium the opportunity to improve its knowledge base and technical skills, which are then applied to creatively address subsequent engagements. As a result, Millennium Consulting delivers cutting edge, forward looking and on-point evaluations for timely and informed decision making.