As companies grow organically, you may not have in place adequate administration procedures to regularly verify, monitor and collect royalty payments from licensees. An on-site review by 360 Audit can highlight weaknesses in the existing structure and assist the licensor to put a more robust system in place using existing resources.
It is essential licensors have the correct reporting and administration procedures in place to ensure advances, other payments and royalty payments due are being invoiced fully and on time. As a licensor, you may be being paid late and, in some cases, not at all. These oversights can typically be avoided with the correct procedures in place.
Our experience of the licensing sector will also help you ensure royalties owed are being paid in accordance with your royalty agreement. Whilst many issues will only ever be picked up through a full royalty audit, an on-site review will tighten a licensor’s administration operation for greater efficiencies.
We are able to assist licensees with your accounting and royalty administration and reporting structures, we put a structure in place for accurate reporting to licensors. This should make your processes more robust and thereby reduce the likelihood of significant findings during a royalty audit.
Contact managing partner Henna Riaz, for more information.
NORTH WEST entrepreneur Henna Riaz has been shortlisted for a national business award.
Ex-media lawyer Henna Riaz, founder of international royalty auditing business 360 Audit and business mana…