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Method and product for calculating a net operating income audit and for enabling substantially identical audit practices among a plurality of audit firms

  • US 7,805,497 B2
  • Filed: 04/01/2008
  • Issued: 09/28/2010
  • Est. Priority Date: 12/07/2000
  • Status: Active Grant
First Claim
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1. A storage medium having computer program instructions stored thereon, the medium comprising:

  • instructions to deploy a copy of a computer program to each of a plurality of audit firms, each of the audit firms operating independently of each other and having a reporting relationship with a common investment entity, each of the plurality of audit firms conducting an audit of a real estate property and generating an associated set of current net operating income (NOI) values, each copy of said computer program including an interactive global NOI audit model and user-viewable standards, procedures, documentation, and reporting requirements, the computer program operating to receive a first input data associated with the respective real estate property and to generate a respective current NOI audit report associated with each of the real estate properties, each of the audit firms having a computer system comprising a plurality of computers, the deploying resulting in each of the computer systems executing the computer program;

    instructions to use at least some of the computer systems to input the respective first input data by at least some of the audit firms to the computer program; and

    instructions to receive by the investment entity a plurality of current NOI audit reports, each of the reports being generated by execution of a copy of the computer program on one of the computer systems and reflecting the received associated first input data, wherein all the received current NOI audit reports have been developed by substantially similar audit practices resulting from the audit firms using the interactive global NOI audit model and user-viewable standards, procedures, documentation, and reporting requirements.

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