Sat, 22-Nov-2008
Audit Watch - Dec07
Published: Nov 07, 2007
ZoMedia ZoRight with ZoCard audit
ZoMedia's freely distributed ZoCards has been audited by the Audit Bureau of Circulation (ABC) Singapore. Conducted for the period April to June 2006, ZoCard was audited for a distributed rate of 2,144,909 across a total of 578 venues. The figures, which were released on 11 August 2007, will be updated on a quarterly basis.
Auditing the postcards, which are available at venues throughout Singapore and caters to PMEBs between the ages of 24 to 35, was a major challenge according to Singh. ABC administrator Eddy Quek said that before the distribution can be audited, appropriate documentation procedures have to be in place to ensure the distribution process can be verified in an audit.
"As ZoCard is produced on an on-going basis with different card variants the method of recording and control has to be studied and agreed upon. This has to be resolved to our satisfaction and an independent audit firm is appointed to carry out the fieldwork for the audit," he said.
ZoCards were meant to be audited annually but the initial difficulties third party auditor, K C Chan & Co faced in auditing consumer pick-up figures has resulted in the audited quarterly figures. Singh told Marketing that the third party auditor was too slow in giving the figures to the ABC and ZoMedia is now pondering whether to stick with the current auditor.
"The good thing about staying with K C Chan & Co is they now know the challenges faced with auditing us but it was our first trial at auditing and we will submit figures again for the final quarter of the year," he said.
Ian Tan, GM of sales and marketing for Dr. Martens Airwair Singapore, was one advertiser who told Marketing that as clients, the audit provided assurance that the numbers presented are genuine making ZoCard a more attractive medium to advertise with.
"Whether ZoCard can be successfully audited for subsequent periods will depend on the maintenance of the appropriate control and documentation over their distribution process," Quek said.