Dealership Compliance

DEAL JACKET REVIEW

Our auto dealer accountants offer a complete review of the documentation collected for the deal transaction. Documents are checked for completion and a list of items that should be included in the deal jacket are reviewed.

INFORMATION SAFEGUARDING

Under the FTC rules, customer information must be safeguarded in the auto dealership to limit access and deter identity theft. A program is completed, interviewing management, assessing risks, and reviewing the processing, storing and disposal of personal information collected by the dealership. Ongoing monitoring helps enforce the program.

RED FLAG CHECKS

Under the FTC rules, a program must be in place to assure that identity theft does not occur at the dealership. A complete program is developed, assessing risks, and reviewing procedures for checking identity theft. Ongoing monitoring helps enforce the program.

MOTOR VEHICLE DOCUMENTATION REVIEW

A review of the documentation needed to properly maintain the motor vehicle license. Inspection of records including temp logs, demo usage reports and licensure credentials is essential.

FORM 8300 REVIEW

Cash reporting to the IRS is as important as ever with the threat of intentional disregard. A complete review of the procedures in place to properly track cash reporting for the purposes of filing a 8300 form include an examination of actual cash deals, an assessment of the tracking system in place and training for employees who are involved in the sales and accounting process.

LABOR AND EMPLOYEE REGULATIONS

Overtime, pay plans and regulatory requirements can be difficult to keep in check. A review of dealership policies and practices is a good check to make sure bad habits don’t become violations.