What is a royalty audit? - Licensing Executives Society USA and ...

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Audit Deficiencies / Underreported Revenue $ Impact of the 81% Invotex 2008 Cumulative Findings License Interpretation 51% Underreported Sales 21% D<strong>is</strong>allowed Deductions 7% Royalty Rates 4% Math Errors 5% Unreported Benchmarks 2% 20 Transfer Prices 2% Unreported Sublicenses 8%
Audit Deficiencies / Frequency Frequency of the 81% Invotex 2008 Cumulative Findings • Underreported Sales • Interpretation Issues • D<strong>is</strong>allowed Deduction • Rate Errors • Math Errors • Sublicenses • Benchmarks • Transfer Prices 0% 10% 20% 30% 40% 50% 60% 21
Page 1 and 2: When Does a Royalty Audit Make Sens
Page 3 and 4: Why license? ▼ Nonprofit institut
Page 5 and 6: Audit Deficiencies / Percent Misrep
Page 7 and 8: Audit Compliance Program for all Li
Page 9 and 10: Decide who you want to audit ▼ Re
Page 11 and 12: Choose an auditor…. ▼ Who will
Page 13 and 14: Transfer knowledge to auditor ▼ S
Page 15 and 16: Let auditors do their thing They wi
Page 17 and 18: Outcomes 17
Page 19: Most Common Errors Discovered ▼ B
Page 23 and 24: Advice - Continued Communication wi
Page 25 and 26: It’s about the money 25

What is a royalty audit? - Licensing Executives Society USA and ...

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