The range of services SDK provides is often unknown to our clients and colleagues.We take care of your audit, or your tax issues, but not much else, so you don’t know the other valuable services we are able to provide.
One such service is a Royalty Audit. SDK’s Forensic Accounting and Valuation Services group performs Contract Compliance Examinations, also known as royalty audits, to determine if your customers or vendors are properly complying with their contracts and whether the fees you are receiving are accurate.
While these examinations can be helpful for discovering any deliberate non-compliance, more often they uncover unintentional accounting errors. These errors, once found, can result in additional payments to you.
We’ve helped a number of clients do some friendly “due diligence” with their contracted vendors, and found overlooked items or misinterpreted contract clauses that have resulted in additional payments to our clients – all while retaining good vendor relationships.
In one case, just the initiation of the process encouraged the vendor to do their own review of past transactions and voluntarily write a check for hundreds of thousands of dollars just to correct an unintended oversight!
If this service sounds like something that would benefit your company, we encourage you to reach out to Ryan Stretmater of our forensic and valuation services team for more information.