Once we have accepted an engagement on your behalf, we will discuss the specific issues that you would like to have addressed during the engagement. We will ask that you provide as much documentation as possible about the license agreement(s) in question. This includes:
- copies of the agreements
- royalty statements
- royalty payment summary
At this point we will begin pre-audit analysis. Reviewing the aforementioned information will enable us to pinpoint potential weaknesses in the licensee’s processes and establish vital questions that will help understand the licensee’s royalty audit procedures. Royalty calculation mistakes can often be identified during this phase of the engagement.