License fees represent a crucial source of costs and revenues across many industries, and their accurate calculation and reporting are essential to prevent financial losses, disputes, and contract non-compliance.
A license fee audit helps verify that license agreements are properly executed and that all parties meet their contractual obligations, fostering transparency and trust.
Our audit process involves a comprehensive review of license agreements and financial records. We analyze transaction data, usage reports, and payment histories to identify discrepancies and ensure compliance with agreed terms. We also provide practical recommendations for improving license fee management and controls.
Our service include:
- Verification of the completeness of license fees paid to licensors,
- Evaluation of compliance with intellectual property usage rules as set forth in contracts,
- Implementation of monitoring systems for complete reporting of license fees and development of audit plans tailored to licensees’ specific needs,
- Assistance in recovering underreported license fees from prior years and maximizing future license revenues,
- Enhancing the transparency and credibility of licensee-reported data by discussing audit findings and identifying contractual clauses requiring amendments.
