Analyze your third-party licensing process and recommend improvements to procedures, controls and systems with this audit report sample. This document provides a detailed analysis of the current licensing processes, identifying key areas of risk in reporting and compliance. It includes observations on the lack of standardized product configurations, inadequate communication channels and the absence of a central repository for critical information. The report outlines specific recommendations to improve internal controls, enhance process efficiency, and ensure accurate calculation and reporting of licensing obligations.  

This tool also highlights the importance of aligning product IDs with business stages and automating workflows using tools like Salesforce.com and company modules. By addressing these core issues, the document aims to mitigate risks, streamline operations, and support scalable growth, especially in the context of potential acquisitions. Ultimately, this assessment report is a valuable resource for improving third-party IP management, ensuring compliance and optimizing overall business performance.

Recommendation options include:  

• Create structured product IDs utilizing standard database software (e.g., SQL).
• Restructure the price book based on structured product IDs.
• Determine critical redundant information utilized by various departments and create repositories.
• Create manual checklists that summarize customer contract terms and conditions.