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$500,000 Unpaid Interest
Case Study: Major Advertiser Financial Audit
Challenge
A major TV, print and online advertiser seeks confirmation that the agency’s handling of its financial affairs meets professional standards of accountability, transparency and accuracy.
Solution
Advantage Media performed a media financial audit to authenticate the agency’s accurate and timely handling of client funds and the return of credits, refunds, rebates to which it was entitled.
Results
- Triggered refunds stemming from billing errors and omissions
- Recovered $500,000 in unpaid interest income due advertiser
- Uncovered questionable agency – media vendor relationship, leading to greater transparency, candor and re-designed billing arrangements
- Identified excessive delays in vendor payment that potentially threatened client/vendor relations
- Established greater clarity and precision in media procedures and financial payments protocols, as well as agency staffing and resource commitment
- Instituted periodic financial audits program to monitor performance and impact of corrective actions
445 Union Boulevard
Suite 102
Lakewood, Colorado 80228
303-763-8194 Tel
303-763-8195 Fax
www.AdvantageMediaInc.com
