Energy

UNMATCHED INDUSTRY KNOWLEDGE

From the areas to explore for new sources of energy to the energy markets supplied, energy companies often have to make strategic decisions daily and must balance their current performance against projected performance.

The energy sector is a significant segment of the global economy. Energy production and supply businesses are necessary for industry, commerce, and residential life. HRSS can help businesses in the energy industry develop the data and strategies to make smart decisions about providing their essential services.

Our extensive knowledge of industry issues enables us to provide proactive audit, tax and management consulting services. HRSS understands the unique challenges and opportunities that come to businesses within this sector, including new technologies, new markets, unfamiliar regulatory and tax regimes, and new sources of energy.

HRSS’s clients come from all corners of the energy industry, including:

  • Oil and gas, including upstream, midstream and downstream
  • Oil and gas exploration
  • Energy production
  • Oil refining
  • Extraction and field services
  • Utilities and energy transmission
  • Renewable energy research and production

The energy sector seems to always be under pressure. Changing needs, rapidly growing demand, and newly opened markets have driven energy companies to expand their capacities and their geographic service areas. At the same time, the energy sector is also subject to cost pressures from increased extraction and production expenses, falling prices, expanded regulations, and limitations on areas open to production.

However, the short- and long-term prospects for the energy sector are strong. New technology and new potentials for cheaper renewable energy resources combined with tax credits and other government incentives for green energy could create a new energy boom.

HRSS can provide the financial and accounting support needed to help energy clients take advantage of the enormous opportunities coming to the industry.

SEEK EXPERT ADVICE

Let us help you navigate through the challenges of industry uncertainties.

CONTACT US

HRSS Services for Energy Clients

Audit and Assurance

We provide audit and assurance services tailored to the energy sector to help clients meet energy regulations. HRSS focuses on corporate governance and internal control reviews to ensure accurate external reporting. Accurate and complete financial data from HRSS also positions energy companies for mergers and acquisitions.

Capital Investment Strategies

We help energy clients develop strategies for investing in their businesses. We assess long-term risks and rewards to plan for strategic investments in equipment, new technology, and research and development.

Tax Planning

HRSS creates tax plans for energy clients using tax credits and other incentives for energy producers. We can help energy clients minimize their tax liabilities.

Transaction Advisory Services

HRSS understands the business models of energy companies. We review purchase power agreements and supply agreements to determine financial implications. HRSS advises energy clients on transactions and long-term strategies considering risks posed by regulatory burdens, pricing caps, and future shifts in the energy industry.

Improving Business Operations

HRSS provides energy clients with insight into their performance and internal controls to identify areas of improvement.

Capitalize on HRSS’s Accounting and Financial Services for the Energy Sector

HRSS seasoned professionals provide accounting and financial services to businesses in the energy industry so they have access to complete and accurate financial and market data. Without rigorously developed and audited financial data, energy companies could face substantial risks from regulators.

Additionally, energy businesses without audited financial data might miss out on industry consolidation, initial public offerings, or private placement that could boost them to the next level of performance. HRSS can provide the accounting and financial services that energy companies need to thrive in an increasingly competitive industry.

HRSS services for energy businesses can provide actionable information to improve compliance and operational performance. To learn more about the services HRSS offers to energy companies, contact us.

CONTACT US

IN THE NEWS

The PCAOB is Planning to Change the Way it Picks Audits for Inspection

The PCAOB wants to make its target areas in audit inspections less predictable.

Sold or Thinking of Selling Your Home?

In spite of (or in some cases, because of) the COVID-19 pandemic, and with near-record-low home mortgage interest rates, the housing market has been booming. September 2020 existing home sales were up 9.4% from August 2020 and 20.9% from 2019, according to the National…

Don’t Fall Behind in Saving for Retirement

Are you neglecting your savings for retirement? Watch this video for a list of tax advantages for retirement savings plans ...

Get the Best Insights Delivered to Your Inbox