Mosaic adds auditing component to its dealership compliance solutions
Mosaic Compliance Services, a compliance solutions provider, recently announced that it has launched AuditF&I, a new continuous monitoring solution for U.S. auto, RV, marine, and powersports dealerships.
The announcement follows Mosaic’s merger with gvo3 & Associates, a leading auditing services provider. Mosaic CEO James Ganther says the software was designed to give users the ability to conduct uniform audits in-house and identify trends in real time, giving dealers and advisers new insights and documentation.
“If I’m arming myself against enforcement actions and legal claims, I’m choosing actionable intelligence over historical data every time. Properly leveraged, early detection equals early correction.” — James Ganther
Unique to AuditF&I is its human element, noting the software component is backed up by regular human interaction with Mosaic personnel to check for problems AI cannot yet reliably detect.
AuditF&I helps dealers satisfy the auditing component of their federally mandated compliance management system. The government puts the onus of identifying and resolving compliance issues on financial institutions, which flows this requirement down to dealership management, notes gvo3 founder Gil Van Over.
“AuditF&I will not replace your comprehensive annual audit. To the contrary, we want your third-party auditors to have access to the rich data AuditF&I generates,” Van Over says. “Our objective is to continue working between audits, identifying minor issues before they can become major problems.”
AuditF&I is now available to current and future clients of Mosaic.
