Which of the following is true about dealer financial records?

Dealer financial records are essential for ensuring compliance with state regulations surrounding manufactured housing. One of the critical responsibilities of a dealer in this industry is to maintain accurate and thorough financial records. The ability for these records to be audited by the Division serves multiple purposes. It ensures that dealers are operating within the legal frameworks set by the state, allows for transparency in financial dealings, and helps to protect consumers by ensuring that dealers are financially sound and ethical in their practices. Audits can also identify any discrepancies or potential fraudulent activities, which is vital for maintaining market integrity.

The requirement for records to be available for auditing underlines the importance that regulatory bodies place on financial accountability. It reinforces the idea that dealerships must not only maintain their financial records but also be prepared to provide them for review to regulatory authorities whenever necessary. This transparency is crucial in advancing trust and professionalism within the manufactured housing industry.