Pub. 4 Issue 2

18 www.glancda.org 8. DataAnalytics.Consider performinganalytics ondisbursement files and vendor files. 9. Fraud Hotline. This can be a cost-efficient control that allows employees to report incidents in a safe environment. 10. Tone fromtheTop.This is aphrase that indicatesmanagement’s leadership and commitment towards honesty and integrity. Furthermore, it is among the most important components of a control environment. It has a trickle-down effect, meaning most employees will uphold the same values as those demonstrated by leadership. Beyond leading by example, make sure you clearly communicate your ethics and values throughout all areas of the dealership. Communicate them informally through daily interactions and formally by way of written codes of conduct, staff meetings, memos, etc. Youwill alsowant to create apath for employeeswhowitness fraud tobe able to confidentially and safely report the unethical behavior. Consider Objective Input While the above self-regulated action items come strongly recommended, including an internal audit inyour controls routine performed by an objective, experienced third party advisor can be extremely beneficial in analyzing your internal controls and accounting records. There are a variety of reviews and procedures an auditor can thoroughly performto spot any anomalies andhelp you implement preventative measures against fraudulent acts, including, but not limited to: • Preparing surprise bank account reconciliations • Periodically, physically hand out paychecks or paystubs for those on direct deposit • Assessing part inventory activity • Reviewing cancelled checks • Performing physical inventories While youmay need to rearrange your budget to accommodate an internal audit, the fee to implement a solid set of internal controls is far less than the financial loss and high remediation/response costs of fraud detection.  [1] Association of Certified Fraud Examiners, Report to the Nations on Occupational Fraud and Abuse. About DHG Dealerships: DHG Dealerships has a team of dedicated professionals working exclusively with dealerships across the country. We serve more than 2,500 rooftops across all 50 states, representing dealership groups of all sizes, including six of the top 10 dealership groups in the country. In addition to providing traditional tax and assurance services, we help keep our clients ahead of relevant and emerging industry trends, includingmergers and acquisitions; succession planning; facilities and factory matters; risk and regulatory; performance; and people and talent acquisition. N ew Car Dealership salesperson training in Mon- rovia on May 16, 2017. A commitment to up- holding the highest level of professionalism in our industry, for all the dealership principals and their employees.  SALESPEOPLE TRAINING