Fourteen months after its landmark report on media transparency, the ANA has delivered another paper that raises concerns over financial transparency and conflicts of interest, this time relating to the US production industry. Following hot on the heels of the announcement at the end of 2016 that the US Department of Justice was investigating production Read More
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 Read More
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 Read More
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 Read More
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 Read More
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 Read More
When done in the right way, contract compliance audits of marketing services agencies deliver far more value to both client and agency than simply identifying accounting errors. That was the message delivered by Philipp Schuster of adidas Group at the ProcureCon Marketing Conference held in London in June.
Cast your mind back to your toughest ever panel-based job interview? Now make it even tougher and it will pretty similar to the grilling I received a few months ago from the European FD of a global agency network and his UK counterpart. This was before we had even started the audits of their agencies!
During the past year we have had the opportunity to audit some small, independent and relatively young agencies in a number of different countries across Europe and in the USA. This has been a learning experience for both us and our clients. Here’s why: standard brand/agency contracts are often based upon a standard contract available to Read More
As the line goes in “Let’s Call The Whole Thing Off” sung by Fred Astaire and Ginger Rogers in their 1937 movie “Shall We Dance”: “You say “either” and I say “either” You say “neither” I say “neither” “Either” “either”, “neither” “neither” Let’s call the whole thing off You say “potato,” I say “potahto” You Read More