Department · IOGP 510
Finance and Legal
Scope
Financial control, statutory and regulatory compliance, legal advice, tax, treasury, JV financial governance, and corporate-level standards (sanctions, modern slavery, anti-bribery). The function that ensures the organisation is solvent, compliant and lawful — and that its commercial decisions can be defended.
The reframing
"The trap is to read Finance & Legal as 'corporate overhead' rather than as a part of the management system. Financial controls are risk controls. Legal frameworks are standards. Sanctions screening is a compliance assurance act. Once Finance & Legal is mapped against the framework, the boundary between 'the management system' and 'corporate' starts to dissolve — which is the right outcome."
Footprint across the framework
E01
Commitment and Accountability
This is where the company commits to financial integrity and legal conduct — code of conduct, anti-bribery, financial integrity, and the corporate governance commitments that bind the board and the executive.
4 docs →
E02
Policies and Standards
This element holds the financial and legal standards — accounting policies, financial control, sanctions, contract law, tax and regulatory legal requirements.
7 docs →
E03
Organisation, Resources and Capability
This element holds the finance and legal capability — organisation, the controllership model, legal panel arrangements and professional certification requirements.
2 docs →
E04
Stakeholders and Customers
This element holds the interfaces with auditors, regulators, tax authorities and JV partners on financial and legal matters.
2 docs →
E05
Risk Assessment and Control
This element holds financial and legal risk — financial risk, fraud risk, legal risk, sanctions exposure and dispute risk.
5 docs →
E06
Asset Design and Integrity
This element holds the financial systems and controls — ERP financial integrity, segregation of duties, system access and control framework integrity.
2 docs →
E07
Plans and Procedures
This element holds the finance and legal procedures — month-end close, journal entry, contract review, dispute escalation and regulatory filing procedures.
6 docs →
E08
Execution of Activities
This element holds execution — period close, payment runs, contract negotiation in real time, regulatory filings and dispute handling.
2 docs →
E09
Monitoring, Reporting and Learning
This element captures how financial and legal performance becomes visible — management accounts, financial KPIs, exception reporting and dispute tracking.
6 docs →
E10
Assurance, Review and Improvement
This element holds the independent assurance of finance and legal — external audit, internal audit, legal review and compliance assurance.
5 docs →
Where Finance & Legal pivots into other departments
→ CommercialSanctions, payment terms, supplier financial assurance
→ SubsurfaceReserves classification, asset valuation, divestment due diligence
→ WellsJV partner approvals, well cost commitments
→ HR / PeopleEmployment law, payroll controls