COPAS, an acronym for Council of Petroleum Accountants Societies, is an organization that represents worldwide petroleum accounting professionals. Established in 1961, COPAS consists of various regional societies in the United States and Canada that collaborate to develop and promote best practices in oil and gas accounting.
COPAS serves as a platform for industry professionals to exchange information, share experiences, and develop guidance on accounting principles, procedures, and practices specific to the petroleum sector. It provides a forum for the discussion of emerging issues and challenges faced by accountants in the oil and gas industry. Through its initiatives, COPAS aims to enhance the accuracy, efficiency, and transparency of financial reporting in the petroleum sector.
The organization offers a range of resources, including publications, training programs, and conferences, to foster professional development and knowledge-sharing among its members. COPAS publications, such as model forms and agreements, serve as industry-standard references for contractual, operational, and accounting matters in the oil and gas sector.
COPAS is committed to advancing the field of petroleum accounting and maintaining standards that align with evolving industry practices. Its members include professionals from upstream, midstream, and downstream segments of the petroleum industry, including accountants, auditors, financial analysts, and tax professionals. Membership in COPAS provides access to valuable networking opportunities, technical guidance, and industry updates, empowering accountants to navigate the complex and ever-changing landscape of petroleum accounting.
