Anyone have any experience with this?

It is for a colleague and unpaid.



Is this all risk and no reward?

Are you a CPA?  Are you familiar with campaign finance reg's?

Not sure about Oklahoma, but in Arkansas it is pretty simple and straightforward.  They give you the forms and a large spiral bound book with all of the regulations, reporting dates, etc.  Many candidates do their own reports, no CPA required.  They also have it setup where you can submit the reports electronically rather than a hardcopy.  It just comes down to how much you believe in the candidate and how willing you are to help out their cause.  You can also do the work but then have them sign it and say they self prepared that way you are not officially involved.  

Yes


No

There is probably some lawyer on the campaign or a supporter who could advise you as needed