Advising on the feasibility of performing royalty audits
Performing the necessary royalty audit work
Recovering unreported or under-reported royalties
Issuing reports on our findings
All aspects of international and domestic royalty examinations
Helping to ensure our clients' royalties are maximized
Assisting and advising on a customized compliance monitoring program
Enhancing our clients' understanding of their relationships with their licensees
Royalty administration and management
How Citrin Cooperman Can Help
Our royalty audit, compliance, and consulting professionals have over 50 years of combined experience servicing licensors of intellectual property and copyright owners in multiple industries including entertainment, music, sports, apparel, franchising, merchandising, publishing, gaming, and commercial licensing. Whether it be to conduct a routine royalty audit; induce further compliance; determine if there is a non-compliance; or seek professional advice on current or future licensing agreements, as a third party, we can provide an unbiased perspective, helping to keep royalty and licensing relationships mutually beneficial and understood.
Our Royalty Audit, Compliance, and Consulting Practice can help to protect your current and future payments by analyzing complex transactions and contractual terms. Through our royalty audits, we have uncovered significant recoveries, both claims and underpayments, on behalf of our diverse client base. Our team is well-practiced in having the foresight to diligently watch for any of the common issues typically found while conducting our compliance procedures and has the experience necessary to provide efficient solutions, as well as suggestions for financial enhancements for future agreements.
Examples of findings from previous royalty audits include:
- Contract misinterpretation
- Poor internal controls
- Clerical mistakes
- Incorrect expenses deducted
- Underreported revenues and overreported expenses
- Inventory issues
- Incorrect use of conversion on foreign exchange rates
- Incorrect royalty rates utilized
- Use of unapproved factories
- Sales made outside of the licensed territory
Focused insights on demand.
Our In Focus Resource Center provides insights on real-time, relevant, strategic, and tactical business issues and trends to help keep you in front of what's happening in your industry and the market.
Our Royalty Audit, Compliance, and Consulting Specialists are here to help.
Get in touch with a specialist today.