The Media Federation of Australia (MFA) has released the 2021 MFA Transparency Framework outlining a set of best-practice principles of transparency for agencies and advertisers.
The updated framework, first developed by the MFA in 2015, reflects progress and changes in the marketplace, and moves to a principles approach to accommodate the dynamic nature of the advertising industry and particularly the digital supply chain.
Sophie Madden, CEO of the MFA: “MFA member agencies are particularly proactive in their efforts to increase the integrity of digital marketplaces and implement stricter standards and best-practice advertising as demonstrated by the work they’ve done to date – including the quick introduction of the EU’s General Data Protection Regulation, for example. Nevertheless, transparency is an ongoing issue because of the complexity of the digital marketplace and constant, rapid technological advancements.
“By setting out clear guidelines on how to operate, the MFA Transparency Framework is a valuable tool for both clients and agencies. The MFA will continue to update the MFA Transparency Framework in the future, to ensure it aligns with significant changes in the market.”
The aim of teh framework is to set clear expectations for agencies and advertisers in the areas for transparency and accountability and to establish how both parties should operate.
It is the cornerstone of the MFA transparency agenda, a long-term program of transparency aids and activities addressing advertiser concerns around media transparency and accountability.
Initiatives include the world- first Successful Agency Pitching Guide 2021, the updated Australian Digital Advertising Practices 2020 (developed in partnership with the AANA and IAB), and the Best Practice Contracting Guide for Advertisers & Agencies (2019).
The principles of transparency for agencies and advertisers as set out in the MFA Transparency Framework:
1. Disclosure
2. Education
3. Accountability
4. Sustainable Contracts
The Framework outlines ways in which advertisers and agencies can adhere to the principles, including disclosure of rebates, commissions and value banks; ethics training every two years for agency personnel; auditing of agencies’ advertising spend deployment; and balanced and fair contracts.
MFA members are required to re-commit to the MFA Transparency Framework as part of the annual membership renewal process.
The AANA (Australian Association of National Advertisers) contributed to the content and has endorsed the MFA Transparency Framework.
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