Casino Accounting
and Auditing
for Indian Gaming Organizations
Gaming
From monitoring casino transactions to controlling specific
games to reporting suspicious activity, tribal gaming
operations face a myriad of challenges. In addition, in 2006,
the National Indian Gaming Commission
(NIGC) revised the Minimum Internal
Control Standards (MICS), which
every tribal casino must meet. Our expert
instructor Malcolm Greenlees, Ph.D.,* a
CPA and author of the best-selling reference
book Casino Accounting and Financial
Management: Second Edition (Oct.
2008), will guide you through the regulations as well as accounting
and auditing procedures critical to the financial well-being of any gaming operation.
This two-day class will help you develop your own system of
checks and balances that exceed NIGC regulations to ensure
that your casino is making the maximum
profit possible by allowing you to identify
when internal or external theft is occurring.
This overview course is a must for
casino accounting department personnel,
casino management, gaming commission
personnel and others involved with tribal
casinos. Register today!
*Instructor subject to change.
Topics that will be covered include:
Introduction to Casino Accounting
- Gaming in the United States
- History of Indian gaming
- Regulatory structure
Approach to Casino Auditing
- Opinion types
- Concepts specific to the casino industry
- Internal and external financial reporting
- Audit guide and official pronouncements
Internal Controls
- Environment and control activities
- Information and communications
- Internal audit report
- MICS
Internal Auditing
- Regulatory audit requirements
- Components of an internal audit
- Audit schedule and plan
- Report writing
- Outsourcing issues
Casino Accounting Flows
- Physical layouts and features
- Overall revenue flows
- Principal casino transactions:
- Slot and table games
- Cage, central cashiering and vault
- Drop and count procedures and controls
- Revenue completions
Slot Machine Specifics
- Slot audit review
- Slot management systems
- Online slot systems
- Sample reports
| Table Game Systems and Controls
- Equipment and staffing
- Revenue flow
- Drop and count procedures
- Table inventories, fills and credits
- Key and dice controls
Cage and Vault Functions
- Cashier organization structure and accountability
- Vault, cashier and count accounting flow
- Physical layout
- Revenue clearing/reimbursement
Current IRS Issues
- W-2G and 1099 issues
- Customer identification requirements
- Employee meals
- IRS tip compliance programs
- Contractor 1099s
Currency Transaction Reporting
- Title 31 of the Bank Secrecy Act
- Key reporting requirements
- Penalties for non-compliance
- Suspicious activity reporting
- Customer relations
- Officials’ responsibilities and training programs
MICS
- Overview of standards
- Compliance program
- Annual CPA requirements
- 2006 revisions
Special Issues
- Controlling comps
- Coupon issuance and redemption control
- Player’s clubs and promotions
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