Audit rights: The gateway to proactive and sustainable portfolio governance

Jarrod M. Patten
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Jarrod M. Patten: Founder, RRG, USA

Corporate Real Estate Journal, 2019, vol. 9, issue 1, 27-41

Abstract: Audit rights have never been more relevant with continued, accelerated global adoption of auditing as a mechanism through which to truly enhance portfolio governance. With heightened compliance demands and cost control objectives, corporations and governments are looking for means through which material, dynamic real estate portfolios can be turned into strategic assets. While lease audit programmes provide that solution, it is the audit clauses themselves, and the distinct rights within them, that make or break the opportunity and success levels of such governance initiatives.Audit right strategy is a leading indicator of savings and compliance opportunity. The intention of this paper is to explore ‘best practices’ to maximise audit right strategy in order to drive proactive and sustainable portfolio governance.

Keywords: lease audit; audit rights; savings; spend optimisation; cost control; accountability; compliance; operating data and insight; portfolio transparency; visibility; portfolio governance (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:aza:crej00:y:2019:v:9:i:1:p:27-41

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