You may have noticed that there are a number of media and advertising consultancies out there, as well as some of the Big 4 chartered accountancy firms, all willing to take your money to carry out a ‘financial audit’ of your agencies. So why choose Financial Progression, exactly?
Financial Progression is one of very, very few firms qualified and experienced in providing contract compliance audit services expressly in respect of advertising, media and marketing agencies, and the provision of risk management advisory services associated with marketing activities generally, on behalf of major branded businesses.
If you’re considering alternative advisers, do the other guys tick all these boxes?
- The primary focus of their business is in contract compliance audits of marketing and advertising agencies (media, creative, digital, PR, sales promotion, events, design, branding, etc).
- They will only use qualified accountants with management experience in the accounting and auditing, media or FMCG sectors to carry out the audit work at your agencies.
- They are a company or partnership regulated by a professional body (as a firm of Chartered Accountants, we’re bound by the tough requirements of the Institute of Chartered Accountants in England and Wales).
- Each member of their team has at least 20 years’ experience mostly spent in senior operational finance and/or procurement roles within real businesses (i.e not only in professional service firms) spending millions of pounds, euros or dollars with advertising and media agencies. You need advisors who know your world inside out and, if asked, are able to advise how to optimise your own internal processes to enable you to work with your agencies more efficiently and effectively.
- They do not employ recent graduates who are learning on the job at your expense, or who have never interacted with, or been, a Board Director of a large company.
- They have suffered the trials and tribulations of working within a large branded business, so they really know what it is like to be in your shoes.
- They’ve never worked for an agency so they sit firmly on your side of the desk, with no potential conflicts of interest or people/agency relationships that could cloud their thinking.