Types of Audits

Financial/Control Audits and Contract Compliance Audits

• An analysis of media invoicing, billing and payment history between the advertiser, agency and media vendors (on behalf of the client).

• The purpose of this type of audit is to confirm that the billing and payments match the total planned expenditure. This may also include a review of payment timelines to determine if industry norms or agreed upon payment terms are being met (Float Audit).
  

• An analysis of agency contract compliance focusing on FTEs (hours logged on timesheets), departmental allocations, scope of work vs. deliverables, etc.

• The purpose of this type of audit is to confirm that the intent and objective of the contract is being fulfilled and to reaffirm its applicability as the client/agency relationship evolves.

• The result of this audit is to identify gaps in standard financial accuracy in reporting and adherence to signed contract provisions