360 Audit targets overseas growth

A NORTH West company which helps its customers recover unpaid royalties is targeting international growth after a strong year.

Daresbury-based 360 Audit, which has offices in Bury and London, was founded by lawyer Henna Riaz in 2010. It works with global brands to ensure they are being paid the correct royalties under their licensing agreements.

Clients including WWE, Michelin Tyres, Global Merchandising Services,  The Jim Henson Company and closer to home Liverpool FC and Take That star Gary Barlow.

During 2014 the business recovered in excess of £3m in underpaid royalties for some of the biggest brands in the world. 50% of 360 Audit’s 2014 revenue came from audits conducted outside of the UK, with Latin America, South Africa, North America and Australia being strong markets.

To support its international aspirations the firm has made a number of appointments.  Marie Wood has been appointed from Cooperative Financial Services as head of audit for the UK, while Zoe Bridges, based in France, is overseeing audits across Europe.

Appointed earlier this year from HW Fisher, Henrique Carvalho is growing the business’ offering throughout the US and Latin America.

Henna Riaz said: “At the start of 2014 I recognised the business needed more resources out on the ground internationally in order to grow the company as we want to. Overseas is where we see a large percentage of our growth and it’s important we have auditors on the ground who are well-versed in doing business in the area and speak the language.

“It’s imperative that licensors are protecting their intellectual property – and not just in the UK. There has traditionally been reluctance to audit overseas but now, as licensing programmes become increasingly global, is the time for brands to consider implementing international audits to ensure they’re making the most of their licensing agreements.”