Company Overview
McDermott’s headquarters is located in this city.
What is Houston, Texas?
Offshore, Subsea, Low-Carbon Solutions, and Corporate
McDermott and EY's audit relationship began this year.
What is 2018?
We follow this set of guidance for our audit procedures.
PCAOB - FS
McDermott's customer base primarily includes this type of customer/company.
What is oil and gas companies?
This operating segment is the only one that does not produce any revenue or have project operations.
What is the Corporate component?
Although private companies are not required to have audited financial statements, we have been engaged as the auditor due to this reason.
What is banking requirements?
In the PACE, our risk profile is designated as _______.
McDermott previously acquired this company, know for their LNG plant construction projects and storage facilitates.
What is CB&I (Chicago Bridge & Iron Company)?
McDermott utilizes their vessels for type of service line project, which involves activity/operations below the surface of the sea.
What is subsea?
We engage specialists to assist in our procedures of this audit area. (Few can apply here).
What are pensions, fair value valuation, project reports?
The one significant risk identified in the EY audit involves this area.
What is Going Concern?
McDermott International specializes in this type of engineering and construction service.
What is offshore and onshore oil and gas infrastructure (or EPCI – Engineering, Procurement, Construction, and Installation)?
McDermott currently serves as a contractor for this multi-billion project. This project is one of the world's largest import facilities, of which is one of few facilities which can also serve as an export facility.
What is Golden Pass?
The EY component teams are located in these two cities.
What are Dubai and Kuala Lumpur?
McDermott's debt covenants state the Company must retain a minimum liquidity balance often referred to as this term.
Global Available Cash
Before becoming McDermott International, the company started under this name.
What is J. Ray McDermott & Co., Inc.?
McDermott's subsidiary PDM is credited for building this well-known monument in St.Louis, Missouri, which is deemed as the tallest U.S. monument at 630 feet tall.
What is the the Saint Louis Arch, officially called the Gateway Arch?
Outside of audit, we engage an EY component team to assist in procedures on what area.
What are international taxes (EY Netherlands and EY Saudi)?
POC Revenue is the only recognized one of this audit term, which is defined as an accounting matter from the audit of financial statements that was of most significance to the audit and involved complex auditor judgment to be disclosed in the opinion.
What is a critical audit matter (CAM)?