Many royalty and licence agreements provide for a royalty audit by an “independent” auditor. Sometimes this is drafted in more detail to refer to, for example, “an independent chartered accountant” or “a nationally recognised independent auditor”. There does not seem to be much discussion or guidance about what constitutes independence in the context of royalty audits.
- David Eastwood
- Economic & Financial Consulting
- Business Protection & Risk
- August, 2017