With multi-franchise dealers on the rise, gross profits diminishing and technology advancing at a rapid rate, the demand on the dealer is at an all-time high. As each day passes, it becomes more difficult for dealers to stay on top of the day-to-day operations of the dealership. This situation can increase the risk of misappropriation of assets and fraudulent financial reporting.   

Therefore, it is imperative that dealerships not only have good management in place but also have established and implemented a strong set of internal controls. From our considerable experience in the industry, we’ve seen both the value of strong internal controls and the cost of control deficiencies.  

Control deficiencies have cost dealerships hundreds of thousands of dollars. In order to prevent control weaknesses from culminating into costly problems, dealers must be proactive.  

Most dealerships do not have the resources in place to monitor their controls. Controls are only evaluated when a problem occurs. Many dealers are large enough to have a full-time internal auditor. But, many dealers feel that it is not cost effective to hire one.

We provide internal audit services on an as-needed basis to assist dealers in maintaining effective internal controls. Click the link below for a detailed description of the services that we provide.