Financial Responsibility

Being part of the global WPP Network, MEC Adelaide is subjected to Sarbanes-Oxley (SOX) compliance testing, in line with its ultimate parent company’s audit requirements (WPP UK) and in line with its management company’s audit requirements (Group M Australia).

For all financial reporting, we document our processes and controls, and the SOX controller teams in our network regularly asses the design and operation of the controls that are in place.

SOX requires management to file an internal control report with its annual report. The internal control report must articulate management’s responsibilities to establish and maintain controls over financial reporting and their conclusion about the effectiveness of these controls.

SOX compliance is also the basis for our media planning and buying record keeping systems. All briefs, media schedules and approvals to book media must be communicated in writing between MEC Adelaide and the client. Also, all media booking advice and the confirmation of booking from the media must be communicated in writing.

This system ensures all media bookings and invoices are the result of following set processes which provide accountability and control.