Vincents provide forensic compliance services and audits to organisations and draw upon years of expertise and our own audit & assurance unit to provide the highest level of service.
Royalty & Licensing Audits
Forensic compliance audits review the payments of licensing fees and royalties and compliance with the terms and conditions of the licensing and royalty agreements.
Vincents have significant royalty and licensing forensic audit experience particularly in relation to:
- Analysing the reporting and paying of royalties to determine compliance with underlying agreements
- Establishing appropriate reporting structures to ensure transparency and compliance with underlying licensing / royalty agreement
- Providing expert commentary on licensing / royalty calculation commentary
- Providing expert accounting expertise for litigation involving the claiming of outstanding licensing / royalty entitlements
Contract Compliance Services
Many government bodies and public companies rely on their clients, customers or suppliers to self comply with reporting requirements. By way of example a state government body may require corporations who are the recipients of particular funding to disclose expenses or records of payments made to clients. The self reporting financial information can be inaccurate because of misunderstandings, mistakes and occasionally deliberate misstatement.
Often the government and public companies seek assistance from experienced, objective and independent forensic accountants seeking to ensure compliance by reporting entities.
Vincents will develop a systematic program to ensure self compliance by the reporting entities:
- Identify the number of reporting entities
- Provide defined and measurable terms of compliance and the means of demonstrating compliance with the reporting entity
- Identify and particularise the reporting requirements of the self reporting entities
- Develop and incorporate a number of self compliance controls
- Consider the use of data mining tools to verify self compliance
- Construct a program of compliance visits to monitor self compliance