Ariz. Admin. Code § 19-4-221

Current through Register Vol. 30, No. 44, November 1, 2024

Section R19-4-221 - Annual Audit

The responsible party shall be audited not less than annually, at its own expense, on its financial condition and compliance standing.

1. Financial statements, or a specific element financial statement related to fantasy sports contests in the State, shall be audited at the responsible party's fiscal year end by an independent certified public accountant. The audit shall include or be supplemented with an attestation from the independent certified public accountant that fantasy sports contest adjusted revenues are accurately reported. The Department shall be authorized to confer with the independent certified public accountant at the conclusion of the audit process and to review all the work papers and documentation relating to the responsible party.

2. The responsible party shall submit an annual compliance audit, prepared by an independent test laboratory, or another professional service provider as approved by the Department, to verify compliance with the operational aspects of the Act and this Article. The compliance audit shall include testing of the internal control system, verification of the integrity of the fantasy sports contest platform, and the geofence system.

Ariz. Admin. Code § R19-4-221

Adopted by final exempt rulemaking at 27 A.A.R. 1186, effective 7/26/2021.