It must be said that without any auditing at all, substantial market data revenues are received by Data Providers each month or quarter, supplied with backing documentation from some of the world’s most reputable companies.

So why audit? It is after all, a specialised and costly business.

The answers are several.

• From an accounting standpoint, prudence dictates that the market data royalty fees remitted to Data Providers, which are a contractual right, should be verified as a correct reflection of what is due. Regardless of the size of the contributor, unintentional errors in reporting can - and do - happen. Regular audits also benefit the auditee in detecting any procedural or system errors in their market data fee reporting process.
  
  
• The discovery of underpayments is not the sole benefit our clients receive from a MicroRose audit. Our audits cover all aspects relevant to the accurate reporting of market data fees, and where appropriate, can include the delivery of Data Provider information for the auditee to display.
  
  
• A great deal of valuable information on the auditee’s operation, practices and proposed future developments is therefore contained in our comprehensive Audit Reports. Such information can often lead to better understanding, closer co-operation and improved working relationships between the Data Provider and the Vendor/End-User.
  

Please contact us to discuss your requirements further.