About Our Media Financial Compliance Audits
In the end, it’s about your money… is it accurately accounted for? Are the right people receiving it at the right time? Are you maximizing the use of your own funds? Are you entitled to refunds, rebates or credits that haven’t been returned to your coffers?
Advantage Media’s experience in performing such audits is based on our highly codified process of “following the money” to ensure that our clients are protected every step of the way. We closely and meticulously follow the “paper trail” from your agency contract, to funds authorization, to agency billings to your company for media, production, compensation and other approved expenses, through reconciliation of vendor invoices by the agencies, to agency payments made to vendors.
We Already Audit Our Agency. How is Advantage Media different?
To be sure, some of the steps our CPAs perform are similar to other financial audit procedures. The big difference however is the involvement of our advertising experts who have intimate knowledge of the “Best Practices” in the media industry, its systems and protocols, agency internal accounting procedures and most of all, the thousands of vendors that agencies rely upon to deliver their clients’ advertising.
Moreover, we’re experts in agency compensation and commercial production accounting and areas that have a high risk of errors in calculation and reporting.
While accounting firms and internal audit staff can thoughtfully authenticate some of the financial process, the combination of our accounting and advertising experts (including former agency CFOs) is unmatched in their ability to identify errors, omissions and opportunities for savings and recovery of otherwise lost advertiser funds.
How Might Your Company Already Be at Risk?
Agency accounting practices are very complex and involve a number of different departments where errors and omissions can and do occur. It starts with the agency’s media department “reconciling” the invoices of hundreds of media suppliers. In the meantime, most advertisers have advanced funds to the agency, which hold them until they're needed to pay vendors.
What You Can Expect From Our Media Financial Compliance Audit
Advantage Media delivers a comprehensive review of all billings and payments between the advertiser, agency and vendor that identifies gaps and shortfalls in the handling of your funds. Where the process also involves compensation, Advantage Media reviews all pertinent records to authenticate the accurate calculation and payment of agency remuneration. Where the process involves commercial production and other billed expenses, we provide a thorough review of production “jackets” and billing records (research, travel, etc) to ensure that expenditures have been approved and properly accounted, billed and paid.
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303-763-8194 Tel
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www.AdvantageMediaInc.com
"The ability to compare our rates with other advertisers has given me great comfort knowing we are spending our dollars wisely, Advantage Media makes sure our spending is laser focused."
Global Procurement Manager
Global Entertainment Company