The company said that of particular concern was an overstatement of 49,000 average daily copies of news titles. Read more at straitstimes.com.
and consider what further steps should be taken.
The review covered the period between September 2020 and March 2022, which included a full financial year of SPHL from September 2020 to August 2021. An independent Big Four advisory firm, one of the four largest professional services companies, was commissioned to assist in the review, which found the inconsistencies in circulation data.
There was also a possible discrepancy of 19,000 average daily copies, which included a barter arrangement with another publisher, which SPH Media did not name. Since the overreported numbers were uncovered, some advertisers have said publicly that they had contacted the company over the matter. The company did not clarify what circulation numbers are used for and the impact the overstated figures could have had. The discovery had also sparked questions about how long the practices that led to inconsistent data had gone on for, and why they had not been discovered or announced earlier.Ad rates based on independent third-party readership data, not on circulation numbers: SPH Media CEO
One, it will strengthen the separation of duties among staff, with enhanced checks and balances. For example, it will ensure that staff who are reporting circulation numbers do not have the access rights to create or change entries in the customer database.
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