Dealership Fraud (Currently Unavailable)

Author: Lewis R. Fisher

Retail automotive, heavy truck and equipment dealers face unique challenges from a fraud and illegal acts standpoint. This course will walk through entity level risks, including the payroll and disbursement functions, as well as drilling down into the risks faced in the various departments, such as parts/service, vehicle sales, and body shops.

Publication Date: January 2018

Designed For
Anyone with financial oversight in the retail automotive, heavy truck or equipment industry, CPA’s and practitioners with clients in these fields

Topics Covered

• The four points of the fraud diamond
• Characteristics of those who commit fraud
• Impact of fraud on the automotive industry
• Unique challenges faced by retail dealers
• Departmental risks and tools to mitigate these risks
• ACFE Report to the Nation
• Cost of Fraud

Learning Objectives

• Recognize internal control structure to repel potential fraud
• Design and implement systems to mitigate opportunities for those seeking to commit fraud
• Identify tools to practitioners to assist clients in improving internal controls
• Differentiate why retail dealerships are targets for fraud
• Identify the most frequent source for the initial detection of occupational frauds
• Recognize costs of fraud
• Identify fraud schemes with respect to dealership sales
• Identify purchase schemes
• Recognize examples of payroll fraud
• Differentiate characteristics of cash spiff fraud
• Recognize statistics according to the ACFE Report to the Nation
• Identify the dollar cost of fraud worldwide per year
• Recognize components to the fraud diamond
• Differentiate false discounts and unrecorded sale examples
• Identify a solution to parts department fraud
• Recognize how to classify specific types of dealership frauds

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Accounting (1 hour), Auditing (1 hour)

Program Prerequisites
None

Advance Preparation
None