The financial assessment provides answers to all transparency problems that advertisers face. These transparency problems result from outsourcing various tasks to an external agency. Not only will the financial cash flows with their various discounts be fully analysed, but the work processes, the overall performance of the agency, compliance with the current contract as well as a clear profitability analysis (what does the agency earn from me as a customer?) will also be included in the audit.
An fma assessment can be carried out for all marketing communication agencies (e.g. media, advertising, digital, PR agencies, etc.). It is not an assessment of the front cover of the story, but a full and detailed analysis of what is going on behind the scenes—what is known as the back office.
In other words, for a creative agency, the fma audit will not make any statements or judgements about the strength of the creation. What we will do is thoroughly review the job cards, timesheets, invoicing, fees, the agency’s purchases from third parties, mandates, etc.
Everything that is based on facts and figures will be audited. We use a number of documents to carry out this review, such as contracts, budgets, and sales and purchasing invoices, for example, but also simple e-mails between parties.
Using this information we can make some clear statements! In the case of a media agency, fma does not assess the quality of the media plan. We will not tell you whether radio was the right choice or not. But we will audit the agreements made, to check whether the media agency complies with the current contract and agreements, underlying contracts, remuneration, invoicing, timesheets, agreed discounts, etc.
The same applies for all other marketing organisations that fma audits: social and other digital agencies, below-the-line agencies, and many others.
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