The Audit Report
Once all of the necessary information has been obtained from the licensee and subsequently reviewed, a Royalty Audit Report is submitted to the client. CRC provides a standard report format that is extremely informative and detailed. The report will clearly explain each instance where the licensee has under-reported your royalties. Every departure from the license agreement will be explained, as well as observations about the licensee’s performance that may not immediately translate into a measureable audit claim.
The CRC Royalty Audit Report goes beyond what the competition provides. We take the time and effort to explain exactly what caused the Audit Findings that have been identified and calculated. Our long-time clients will tell you that this is extremely valuable when presenting the audit results to the licensee. This attention to detail is consistent with our overall objective of making the entire process as streamlined as possible for the licensor.
Flexibility and communication with the client are important components of the CRC mission. After issuing the initial Royalty Audit Report to first-time clients, we discuss the report format with them. At this point we will make changes to the report format as directed by the client. Our goal is to provide a report that is useful and effective for the client and their purposes. In addition to the standard report, we also offer the option of receiving an Executive Summary that highlights only the most important results of the audit engagement.