Types of Audits
What are the various types of media audits practiced in the US?
The term "media audits" is often widely applied to a practice area that includes several different types of services. Therefore, it is worth a closer examination of the sector to understand and appreciate the differences. An audit is an examination of records while a benchmark is a comparison. There are CPAs who are "auditors" and there are agency, media and production subject matter experts who are also called auditors. Depending on the type of results a marketer hopes to attain, different expertise, skills and databases for benchmarks are required. Thus, it is important to understand the basic types of audits to help define your approach.
There are four types of media audits primarily being performed:
1. Media Performance/Strategic Audits (Cost & Quality)–aka Benchmarking or Efficiency Audits
2. Delivery Verification Audit–aka Verification Audit, Buying Guideline Compliance Audits
3. Process Audit
4. Financial/Control Audits and Contract Compliance Audits