Royalties and Licensing Audits

Contract Compliance Services

Establishing / Reviewing a Whistleblowing Hotline

Fraud and Corruption Prevention Services

Superannuation Fraud and Theft Prevention and Investigation

Identity Theft Prevention

Anti-Money Laundering and Counter Terrorism Financing Services

Asset Tracing and Funds Tracing

Forensic Reviews

Data Mining

Supplier and Customer Vetting

Fraud and Misconduct Investigations

Royalty and Licensing Audits

Pre-Employment Screening

Code of Conduct services

Forensic Accounting

Conflict of Interest services

contact us

Warfield & Associates
Level 17, 60 Castlereagh Street
Sydney NSW 2000
Tel : (612) 9231 7588
Fax: (612) 9231 7575

Understanding and auditing your licensing income can be difficult.
Warfield & Associates provides licensing management services for organisations which license out their intellectual property. Licensing management includes an review of licensing payments / royalties and and an audit of compliance with the licensing agreement.

Often there is a reliance on licensee companies’ procedures and controls to ensure the completeness of your revenues as the licensor.

Most licensing audits occur because the licensor is reacting to a variety of circumstances caused by the licensees, that may include - late payments, no payments or incomplete reporting. Questions that often assist in assessing whether a licensor may have unreported royalties revenue include:

• Does your licensee remit its royalties payments on time?
• Does your licensee include a detailed supporting schedule with its payment?
• Are the royalties this period within a reasonable range of the last reporting period or the same period a year ago?
• Does the royalties calculation include a complex formula?

Our expertise enables you to audit licensing payments to ensure that licensing agreements are adhered to. Warfield & Associates can help keep your licensees accountable to the terms of your agreements, including timely royalties statements and the associated required payments to you.

We can assist you in creating and executing a compliance program which can increase revenues, identify opportunities to improve processes and procedures used to monitor license agreements and increase confidence in the information received from licensees. In particular, we can help:

• increase the chances of finding underreported licensing revenues;
• improve the level of trust, and therefore the business relationship, between licensor and licensee; and
• reduce the risk of a dispute arising between licensor and licensee.
  

Warfield & Associates can help your organisation establish a robust system for ensuring your royalties and licensing fees are being calculated and paid correctly. How much could you be losing at the moment ?