Rex is a Principal of HBK CPAs & Consultants and directs · 2020. 5. 29. · Rex is a Principal of...

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Rex is a Principal of HBK CPAs & Consultants and directs the firm’s Dealership Solutions Group . He has worked extensively in the dealership industry since 1984 as a department manager, a general manager and an owner, as well as providing tax, accounting and operational consulting services exclusively to dealers as an independent CPA. This experience includes working closely with hundreds of dealers from coast-to-coast since 1987 on creative tax planning and financial statements issues. He provides clients with a wide range of transaction work services and consults for them in specialty areas such as operations, government regulatory compliance, valuations and M&A feasibility studies. Rex is active in many professional associations. He is the current Chairman of the BDO Dealership Industry Group, contributes articles and commentary to dealership industry publications, is frequently called upon to speak to industry associations and conferences, provides expert testimony, and is regularly quoted by industry and the general media.

Rex Collins, CPA, CVAPrincipal

Dealership Solutions Grouprcollins@hbkcpa.com

317-504-7900

Jordan Baierl is a Manager with the HBK Dealership Solutions Group, who specializes in tax, advisory and other consulting services for dealer clients across the country. Jordan works out of the firm’s Pittsburgh, PA office. A graduate of Virginia Polytechnic Institute and State University (commonly known as Virginia Tech) where he received both a BS and Master’s in Accounting. Jordan has worked on a wide variety of client solutions with HBK, including but not limited to tax planning and preparation, financial statement preparation and review, store performance and control reviews, expense and margin benchmarking, buy/sell support and assistance with manufacturer dealer candidate applications. Jordan is passionate about the dealership industry and loves working together with people to solve complex problems. Jordan successfully completed the National Automobile Dealers Association (NADA) Dealer Academy Training Program, a year-long, intensive program focusing on each dealership department, as well as leadership and financial success.

Jordan Baierl, CPAManager

Dealership Solutions Groupjbaierl@hbkcpa.com

724-934-5300

Coronavirus CrisisWebinar Series

Join HBK Dealership Solutions GroupNext week for another installment of our Third Thursday

June 4th 11:00 – 12:00 EDT

Registration link will be provided after this webinar.Topic subject to change.

Hill, Barth & King, LLC (“HBK”) is a multidisciplinary financial services firm, offering the collective intelligence of hundreds of professionals committed to delivering exceptional client service across a wide range of tax, accounting, audit, business advisory, valuation, financial planning, wealth management and support services.

This Presentation contains general information only, and HBK is not providing through this presentation accounting, tax, business, financial, investment, legal or other professional services or advice. This presentation is not a substitute for professional services or advice, and it must not be used as a basis for any decision or action that may affect you or your business. Please consult a qualified business advisor before making any decision or taking any action that may affect your business. HBK shall not be responsible for any loss sustained by any person who relies on this presentation.

Nothing is certain but change…Presentation Based on Guidance Released 5/22/2020Things are changing on a frequent basis please contact us with any questions or concerns.

DEALERSHIP would like to re-employ you as a technician. Should you accept this offer of re-employment you are expected to be at the dealership at 7:30 a.m. on May 13, 2020. Should you decline this offer of re-employment you should be aware that you may forfeit eligibility for continued unemployment compensation. Further, DEALERSHIP may be is required to report this declined offer of re-employment to the STATE Department of Labor and Workforce Development.

Relative to PPP forgiveness when you extend offer of reemployment you are required to notify your state unemployment agency if the offer is declined.

TRUEFALSE

Poll #1

Amy Reynallt (330) 758-8613 areynallt@hbkcpa.com

Matt is a Senior Manager in HBK’sQuality Control department and works primarily in the Pittsburgh, Pennsylvania office. He specializes in risk advisory services, system and organization control (SOC) reporting, internal controls, IT audit, information security, and cyber security for all types of industries.

EducationBachelor of Arts in Accounting, Washington and Jefferson College

Matthew J. Schiavone, CPA, CISSP, CISA

Senior Managermschiavone@hbkcpa.com

Bill is a Senior Manager in HBK’s IT Department and works out of the firm’s corporate office in Youngstown, Ohio. He specializes in cyber security, IT security, external IT audit, internal IT audit, IT consulting, software Development, IT governance, PCI-DSS, supply chain, system implementations and e-Commerce and has worked for a wide range of industries, including the Public Accounting field. Bill is a certified public accountant, a certified information system auditor, and a certified supply chain professional.

EducationBachelor of Business Administration in Computer Science, Kent State University30 hours of upper division Accounting courses, Georgia State University

William J. Heaven, CPA, CISA, CSCP

wheaven@hbkcpa.com

Dealership Solutions Group / Risk Advisory Services Webinar Series

Online Purchasing Programs: Minimizing Risk and Increasing Opportunity

May 28, 2020

• Online Purchasing• Organizational Risks and Industry Trends

Agenda

Demo Appraisal Credit App Delivery

CRM Inventory System

Credit Bureau DMS

Data• Drivers License Number• Insurance Policy Information• Name, Address, PhoneRisks• Data Access• Data Availability• Data Leakage• Data Theft

Credit Bureau DMS

Data• License Plate• VIN Number• LocationRisks• Data Access• Data Availability• Data Leakage• Data Theft

Credit Bureau DMS

Data• Social Security Number• Financial Information

Risks• Data Access• Data Availability• Data Leakage• Data Theft

Credit Bureau DMS

Data• Contract Information• Banking Information

Risks• Data Access• Data Availability• Data Leakage• Data Theft

I’m reading guidance issued on EFMLA and extended sick leave by the EEOC

a. Daily b. Weeklyc. Occasionallyd. Not at all

Poll #2

84% of surveyed consumers say that they “would not buy another car from a dealership after their data had been compromised,” - Survey from Total Dealer Compliance

Risks Beyond the Online Experience

• 66% of dealers have not conducted a formal risk assessment to identify internal and external cybersecurity risks

• 73% of dealers do not utilize a Security Information Event Management (SIEM) System

• 65% of dealers do not conduct regular tests for security systems and processes

• 63% of dealers do not have a formal process to respond to security incidents or breaches

Preparedness

• Reported only 30 percent of dealers employ IT personnel who have completed computer security training or certifications.

Skill Gap

• 73 percent of consumers report that they’d be more comfortable working with staff at auto dealerships that have completed compliance training and display their certifications, according to Total Dealer Compliance. o Yet only 37 percent of surveyed dealerships indicate that they offer compliance

training to all employees.

Customer Satisfaction

I’m reading guidance from the CDC or OSHA on how to properly open for business

a. Dailyb. Weeklyc. Occasionallyd. Not at all

Poll #3

• NY SHIELD ACTo Notification requirement extends to any person or entity with private

information of a New York resident, not just those conducting business in NY.

o Businesses shall develop, implement and maintain reasonable safeguards to protect the security, confidentiality and integrity of the private information .

o Must have reasonable administrative safeguards such as training employees in security program practices and procedures.

o Must have reasonable technical safeguards such as regular testing and monitoring of essential controls, systems and procedures.

o Must have physical security safeguards that companies should implement to comply with the law, including erasure from electronic media private information that is no longer needed.

o Taking GLBA and HIPAA to another level – aligning with federal regulations.

Changing Regulations

• Implement Phishing Training Programs• Technical Control Assessment • Risk Assessment• Process/ Controls Testing • Policy Development • Cyber Program

What to do…

Join HBK Dealership Solutions GroupNext week for another installment of our continuing

Thursday June 4th 11:00 – 12:00 EDT

Hill, Barth & King, LLC (“HBK”) is a multidisciplinary financial services firm, offering the collective intelligence of hundreds of professionals committed to delivering exceptional client service across a wide range of tax, accounting, audit, business advisory, valuation, financial planning, wealth management and support services.

This Presentation contains general information only, and HBK is not providing through this presentation accounting, tax, business, financial, investment, legal or other professional services or advice. This presentation is not a substitute for professional services or advice, and it must not be used as a basis for any decision or action that may affect you or your business. Please consult a qualified business advisor before making any decision or taking any action that may affect your business. HBK shall not be responsible for any loss sustained by any person who relies on this presentation.

Join HBK Dealership Solutions GroupNext week for another installment of our continuing

Thursday June 4th 11:00 – 12:00 EDT

Let us answer YOUR dealer specific questionsRex A. Collins, CPA, CVA

317-504-7900rcollins@hbkcpa.com

Matthew SchiavoneSenior Manager724-934-5300

mschiavone@HBKCPA.comBill Heaven

Senior Manager330-758-8613

wheaven@HBKCPA.com

Rex is a Principal of HBK CPAs & Consultants and directs · 2020. 5. 29. · Rex is a Principal of...

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