Auditing
When money is exchanged for measured fluids, the agreement will usually include a means of auditing the quantities obtained. Physical auditing, as opposed to financial auditing, is a formal periodic examination and check of the flow measurement equipment and procedures of a specific company and/or location. It should include field and office operations from the measurement source to the end user, including data reports, overall performance, field operation, data handling, calculation, accounting, and final billing. This procedure is an important aspect of custody transfer metering and is usually completed within 30 to 60 days after the required data is processed. Procedures for carrying out audits and their scope and objectives are ...
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