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Is Calling Yourself a Media Auditor Misleading and Deceptive?
| Guest post by: Darren Woolley |
Article Overview: A client recently sent me an RFP for their Media Auditing Services. I called them and said that we do not provide auditing service as we were not auditors. They said that we provide performance benchmarking and assessments on their content agencies, how come we did not do the same on media?
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Free Download - The Important Distinctions Between Relationship, Collaboration and Performance Benchmarking By Darren Woolley |
Is Calling Yourself a Media Auditor Misleading and Deceptive?
A client
recently sent me an RFP for their Media Auditing Services. I called them and
said that we do not provide auditing service as we were not auditors. They said
that we provideperformance
benchmarkingand assessments on
their content agencies, how come we did not do the same on media? I said we do
that, but that is not auditing is it?
When you look
at the definition of audit is says:
au·dit n.
1. An examination of records
or financial accounts to check their accuracy.
2. An adjustment or
correction of accounts.
3. An examined and verified
account.
That is what I
think of when I hear the term auditor.
Au·dit·or n.
The person appointed to
conduct an examination of the records, to form an opinion about the
authenticity and correctness of such records, by verifying the correctness and
reliability of the recorded transactions from the evidences available, opinion
and inference reachable based on his expertise.
Now of course
there are media auditors who conduct forensic financial investigations into the
media transactions of advertisers to the correctness and reliability of those
transactions. They ensure that what the agency charges the client is what the
agency paid to the media owner and what the media owner charged the agency was
the amount agreed and that the media was supplied in the specified form.
This is
auditing.
The
people undertaking the audit usually have some financial or accounting
qualification and in many countries must actually be qualified and recognized
as an auditor by a professional body, because the role of an auditor is an
important one that requires a high level of integrity and trust.
The Sarbane
Oxley legislation in the US was introduced to provide a framework to accounting
and auditing to ensure the rigor required because the US and the world had seen
what happens when auditors and accountants have a less than rigorous level of
integrity and trust.
That brings me
back to the number of people and companies in the marketing and advertising
category who call themselves auditors and yet do not provide either the
auditing process or have the rigor or professional body recognition of being
auditors.
Yes, they
provide assessments, perhaps have industry benchmarks and provide knowledge on
industry practices and buying rates and processes, but this is not strictly
auditing. AtTrinityP3we do this and we do not call
ourselves auditors.
But why would
you call yourself an auditor when you do not actually have either a recognized
qualification to audit or actually comply with a rigorous audit process?
Is it borrowed
credibility?
Certainly, with
the rigor and standards demanded of auditors by legislation like SOX in regards
to independence, professional accountability and recognized industry standards,
to pretend to be an auditor when you are not has a huge advantage over your
non-auditor competition.
Or do people
know that they are not really engaging auditors and it is just another debased
term that gets bandied around the consulting world? I am sure those who have
actually spent years becoming qualified and then adhere to the high standards
of their profession would be sad to hear that almost anyone providing a mediabenchmarkingservice can call themselves the same.
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Referred by: http://www.meetmikeandmidge.com/?t=mmevcarbio
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About the Author: Darren Woolley RSS for Darren's articles - Visit Darren's website During his 15 years as a writer and Creative Director, Darren developed brand and business communication strategies for a broad range of organisations. He was Creative Director at J Walter Thompson and President of the Melbourne Art Directors' Club for two consecutive terms. In 2000, Darren founded TrinityP3, Asia Pacific's leading strategic marketing consulting company with an international network of more than 30 industry professionals helping people to achieve commercial purpose through creative process. What that means is he leverages his extensive knowledge of the marketing and advertising industry, to help advertisers achieve maximum value from their budget by providing cost benchmarks, industry best practice knowledge, training and independent third party advice on agency selection and remuneration, media planning and buying, digital, direct and interactive marketing, TV and print production and public relations. Now a decade on, TrinityP3 is at the leading edge of decision making in the marketing and advertising industry that spent over $200 billion in 2009 and their client base includes more than 50 of the world's top 100 advertisers, with offices in Hong Kong, Singapore, Sydney, Melbourne, London and Wellington. With his background as both scientist and Creative Director, Darren brings a unique sense of process combined with creative purpose to his work. He has regularly been named in Australia's AdNews Power 50: The Most Powerful People in Advertising since 2005 and is a regular industry commentator contributing to numerous trade magazines. Click here to visit Darren's website   Increasing Marketing Supplier Performance Through Business Strategy Alignment Selecting The Right Advertising Agency Is Dependent On Access To A Comprehensive Agency Register The Important Distinctions Between Relationship Collaboration and Performance Benchmarking Developing Agency Solutions to Increasingly Complex Marketing Requirements Five Reasons Agency Compensation Should Not Be Relationship Based |
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