Boasting 178 billion barrels of proven oil reserves and close to 58 Tcf of proven natural gas reserves as of 2009, Canada is the world's largest reserve holder after Saudi Arabia and the top supplier of U.S. energy imports. Canada is also home to the world's most expansive oil sands deposits, the development of which extracts and processes a heavy, tar-like crude bitumen that comprises the bulk of the country's reserves. Canada's oil and natural gas sector is privatized, with industry regulation occurring at the provincial level.
Financial audit includes examining the relevance and reliability of financial records and reporting activities. Different audits may include those completed for taxation, legal, disclosure, or compliance purposes. Audits may be done internally or externally by third parties that deliver an opinion on whether the financial records are in accordance with specified criteria.