Intenal control review

Fraud happens, quite simply, because it can.  The detection and prevention of fraud can best be achieved by having an adequate accounting system in place with appropriate internal control features.  If you’re not certain that your internal controls are working, Plante & Moran can conduct an internal control review.  Think of it as a tune-up to make sure that your dealership is operating as productively and efficiently as possible.  Strong internal controls also help safeguard the assets of your dealership.  That’s why, when conducting a review, we will not only show you how to improve your existing controls, but also help you to develop new ones wherever necessary.

Answer the questions below to see how confident you feel with your current accounting practices:

• Are D.O.C.s reviewed with key managers throughout the month?
• Is the final D.O.C. reviewed with key managers?
• Is your monthly financial statement reviewed by top management?
• How much reliance is put on monthly financial statement information?
• Have you had months where either the financial statements were late or contained obvious mistakes?
• Does this condition happen frequently?
• Does the office manager/accountant provide knowledgeable answers to your questions?
• Approximately how many adjusting journal entries are required to be made by your CPA at year-end?
• Do you ever have your CPA come in prior to year-end, on a surprise basis, to perform checking on accounting practices?