Adrian Jenkins FCA, Director, Financial Progression Limited.
Posted on September 1, 2014 by Adrian

‘Half the money I spend on advertising is wasted. Trouble is, I don’t know which half.’

Adrian Jenkins knows where it goes.
John Wanamaker, pioneer of modern advertising and marketing techniques, famously hated budgetary black holes. Here at Financial Progression we’re not huge fans of unproductive marketing spend either. Adrian Jenkins and his expert team of finance professionals work with global brands like yours to ensure exemplary budgetary behaviour and contractual compliance from your marketing agencies. Find out more →

Am I allowed to audit my agency?

Having read “The 105th thing on your to do list” you will now know what kind of audit you’re looking to conduct. So what’s the next step? Before you go out looking for an auditor, you need to check that you are actually ‘allowed’ to audit your agency and, if you are, what can and can’t be audited.

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Posted on September 22, 2016 by Janis Prescott

The 105th thing on your ‘to do’ list may be the most important…

So imagine the scenario: you’ve got a set marketing budget that seems to be squeezed year-on-year; new opportunities arise that need to be tested; old, well-trodden routes to market need to be sustained; constant evaluations need to be done to ensure you’re nimble and maximizing the opportunities; and your parent company has just issued the (annual) email to say that it’s putting a stop on spending any uncommitted budget at the end of the month. Sound familiar?

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Posted on June 27, 2016 by Janis Prescott

The ANA media transparency report – a marketer’s perspective

Janis Prescott spent 20 years in a wide variety of marketing roles in a blue chip company before joining Financial Progression earlier this year to oversee its marketing activities. Here she offers her perspective on K2 Intelligence’s report into US media transparency for the ANA.

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Posted on April 20, 2016 by Adrian

Trust and transparency in client-agency relationships

From the perspective of any marketing contract compliance auditor, the results of the ID Comms 2016 Transparency Survey are music to their ears.  For Financial Progression, the results mirror exactly the ethos on which the business was established: namely that the more brands understand the financial realities and business models of agencies, the more readily they will find a mutually beneficial way of working together.

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Posted on April 1, 2016 by Adrian

Is it clear where an agency is making money on your account?

When an agency submits a statement of work for a production job or a media plan to a brand team, you would expect that the amount on the piece of paper you approve represents the whole story. Well, not necessarily. What we have found is that the fees from the brand may only be one of the revenue streams present and they are likely to vary by agency type.

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Posted on February 3, 2016 by Adrian

Supplier rebates – how confident are you that your agency is declaring them?

Most brand/agency contracts state that an agency needs to hand over to their client any rebates received from third parties used on their account, whether specific or on a ‘fair share’ basis (e.g. annual volume bonuses). The question is how do you know that you are getting all your rebates back? Our experience tells us that brand teams get short changed more often than they realise. The only way to really know whether you are getting all your rebates back is to do a ‘contract compliance’ or ’financial’ audit. In this article we explore a slightly unusual situation we were faced with recently when doing just that at a large agency.

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Posted on January 7, 2016 by Adrian

‘Big 4 only’ audit clauses outlawed: what’s the impact on your agency contracts?

In April 2014 legislation was approved by the EU Parliament and adopted by the Council of the European Union to make the audit market in the EU more competitive. Key measures are that Public Interest Entities (PIEs) will have to change the audit firms that review their year end accounts at prescribed intervals and the market is to be opened up to firms other than the ‘Big 4’ (PricewaterhouseCoopers, Deloitte, KPMG and Ernst & Young). As a result ‘Big 4 only’ audit clauses in commercial contracts (often loan agreements) that force companies to use one of the Big 4 firms for their year end statutory audit are now “null and void” i.e. completely unenforceable.

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Posted on December 18, 2015 by Adrian

Why we don’t work on a contingent fee basis

Given the fact that we have managed to find money that our clients are owed in 95% of the audit assignments undertaken on their behalf, you may be puzzled to know why we don’t work on a contingent fee basis, and even more so when it isn’t uncommon for us to find that our clients are owed in excess of £100k…

There are many reasons why we have taken this stance. In this article, I explain in a little more depth why we have taken this seemingly uncommercial position.

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