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Of Orcs and Audits

By Terri Petrey

This is the first post in a series I'll be doing on audits. If you haven't heard about Peter Jackson being pulled as the director of The Lord of the Rings prequel The Hobbit have a look at the CNN article. The letter written by Peter Jackson and Fran Walsh appears on The One Ring, a fan site.

Audit provisions are found in all types of contracts, not just film and television contracts.

It just happens that in the entertainment industry the stakes for the little guy are a lot higher and the accounting is much, much more creative. Language in the audit clause and appropriate follow through can make the difference between dying broke and living an independent senior existence for many artists.

The second topic I'll be covering on the broad subject of audits is how to conduct an in house contract audit. It's ten o'clock, do you know where your contracts are? Who is terminated and who isn't? Does contract language comport with current law? And, last but not least, Word for the not so dummies who need to quickly check contract language.

The last topic will be on financial audits. The kind the CPA's do, and what the shortcomings of that process are. It's not as dry as you might think. How not to cook the books 101.

Notice the new, svelte Pete Jackson? I did, particularly since I recently started a diet. If you are interested you can view my nutrisystem members page. You can also view my myspace site which is more specifically geared to all things film.

Full post as published by The Law Blawg of Theresa Petrey, PLLC on December 09, 2006 (boomark / email).