Sample interview questions: How do you ensure appropriate financial controls are in place within an ad agency?
Sample answer:
- Establish a clear financial policy and procedure manual: This manual should outline the agency’s financial policies and procedures, including how to track and manage expenses, how to bill clients, and how to manage cash flow.
- Implement a budgeting system: This system should help the agency track its income and expenses and ensure that it is staying on budget.
- Regularly review financial reports: The agency should regularly review its financial reports to identify any areas of concern and to take corrective action as needed.
- Establish a system of internal controls: This system should help to prevent fraud and errors and to ensure that the agency’s financial records are accurate and reliable.
- Hire qualified accounting personnel: The agency should hire qualified accounting personnel who have the necessary skills and experience to manage the agency’s finances.
- Provide ongoing training to accounting personnel: The agency should provide ongoing training to its accounting personnel to ensure that they are up-to-date on the latest financial reporting requirements and regulations.
- Keep accurate and complete accounting records: The agency should keep accurate and complete accounting records of all of its financial transactions.
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