Section 68 IAC 11-1-2 - PurposeAuthority: IC 4-33-4; IC 4-35-4
Affected: IC 4-33; IC 4-35
Sec. 2.
The procedures of the internal control system are designed to ensure the following:
(1) Assets of the casino licensee are safeguarded.(2) The financial records of the casino licensee are accurate and reliable.(3) The transactions of the casino licensee are performed only in accordance with the specific or general authorization of this article.(4) The transactions are recorded adequately to permit the proper recording of the adjusted gross receipts, admission fees, and applicable taxes.(5) Accountability for assets is maintained in accordance with generally accepted accounting principles.(6) Authorized personnel have access to assets.(7) Recorded accountability for assets is compared with actual assets at reasonable intervals, and appropriate action is taken with respect to any discrepancies.(8) The functions, duties, and responsibilities are appropriately segregated and performed in accordance with sound practices by competent, qualified personnel, and no employee of the casino licensee is in a position to perpetuate and conceal errors or irregularities in the normal course of the employee's duties.(9) Gaming is conducted with integrity and in accordance with IC 4-33, IC 4-35, and this title.Indiana Gaming Commission; 68 IAC 11-1-2; filed Apr 19, 1996, 3:00 p.m.: 19 IR 2262; readopted filed Nov 25, 2002, 10:11 a.m.: 26 IR 1261; readopted filed Nov 14, 2008, 12:51 p.m.: 20081210-IR-068080730RFA; filed Dec 6, 2012, 2:32 p.m.: 20130102-IR-068110786FRAReadopted filed 9/19/2018, 4:09 p.m.: 20181017-IR-068180283RFAReadopted filed 11/22/2023, 8:28 a.m.: 20231220-IR-068230610RFA