Presented by James M. Eagan Sr. CPA

Increase your awareness of the unique vulnerabilities to fraud that exist in the typical family owned automobile dealership. Whether you are the Owner, General Manager, CFO-Controller or other member of senior dealership management, this presentation should help all of us more competently fulfill our fiduciary responsibilities to protect our owner’s dealership investments from the risks of fraudulent activities.

Topics covered will include:

• Review the theory and framework of the Fraud Triangle (Pressure, Opportunity, Rationalization) to explain why a significant number of dealership employees, even the most long-term trusted ones, may be motivated to commit fraud under the right circumstances.
• A person’s internal thought processes affecting “Good” and “Bad” honesty judgements.
• Profiles of deceitful individuals.
• Employee behavioral “Red Flags.”
• Review of the Top 15 Inherent Fraud Risk Factors which create fraud exposure in dealerships simply because of the nature of the dealership beast.
• Review of the Top 20 most common types of fraud which occur in dealerships.
• Electronic Fund Transfer fraud risks – “A Dealer’s Worst Nightmare.”
• How to perform a cost versus benefit analysis with respect to dealership accounting and internal controls.
• High value owner/senior management approaches to mitigating fraud risks.
• Internal control best practices for each dealership department, including the office

This class is for dealers, general managers, CFOs, controllers and others in dealership senior management.

Presented by Nancy Hill, Dave Bowen & Sarah Rusnell, Michigan Department of Treasury

Learn the compliance requirements of Sales & Use Tax Laws with respect to vehicle sales, body shop activity, parts/service departments and demo vehicles.  This class now includes sample handouts on the monthly worksheet, how it is used in the monthly return, amending the return (due to an unwound deal) and filing an annual return using the example month’s figures to show how the monthly data flows into the reconciliation.  See the examples during the live demonstration on MTO.

This class is for dealers, general managers, office managers and office personnel.

• How to properly report on sales, leases, demos, body shop and rentals.
• How manufacturer and/or dealer rebates and discounts affect the tax base.
• How to handle vehicles sold in interstate and foreign commerce.
• The proper tax base for sales and dealer usages.
• What documentation is required for various sales.
• Michigan online filing and reporting