Our paper uses an extensive sample of 292 oilfields to provide evidence that Securities and Exchange Commission (SEC) supplementary disclosures do not capture the price sensitivities of Oamp;G disclosures implicit in the two main forms of oilfield ownership, concession and production sharing...

About the authors -- Preface -- Structure of the financial reporting council -- Glossary of terms -- The social role of auditing -- What is auditing? -- The development of auditing and its objectives -- Conceptual underpinning of the audit process -- A framework of auditing concepts --...