Montana University System Research And Development Performance Audit 2006

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EP assets held by units of the university system have the potential to deliver revenues to universities through licensing agreements and other forms of commercial development. Misstatements in financial reporting could occur where there is no established and standardized methodology for capitahzing these assets. The Office of the Commissioner of Higher Education should work with universities to review and refine methodologies for capitalizing IP as intangible assets. This review should draw on
...appropriate guidance available Page 43 Chapter V - Technolog\' Transfer Functions from the Department of Administration and ongoing work by the Government Accounting Standards Board.
Recommendation #7 We recommend Board of Regents through the Office of the Commissioner of Higher Education work with universities to review and refine methodologies for capitalizing intellectual property as intangible assets.
Visibility and Awareness of Technology Transfer Functions Another area where we identified concerns relating to technology transfer functions was the level of awareness among university faculty and staff regarding IP and related issues.


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