Authority: IC 4-33-4; IC 4-35-4
Affected: IC 4-33; IC 4-35
Sec. 3. An independent certified public accountant or independent certified public accounting firm selected to perform a financial statement audit must agree to abide by the following conditions of engagement, which must be stated in a written agreement with the casino licensee, to perform the audit:
- (1) Inform the commission with respect to material errors and irregularities or illegal acts that come to its attention during the course of an audit.
- (2) Inform the commission in writing of matters that come to its attention that represent significant deficiencies in the design or operation of the internal control structure.
- (3) Provide each member of the professional audit staff assigned to the engagement a minimum of sixteen (16) hours of training in the gaming industry.
- (4) Retain and make available to the commission all reports, working papers in both current and permanent files, audit programs, tax returns, and other information relating to engagements for a period of five (5) years after completion of the engagement.
- (5) Respond timely to all reasonable requests of successor auditors.
- (6) Submit peer reviewed reports to the commission.
- (7) Have all engagement letters approved by the commission prior to undertaking assignments.
- (8) Send copies of all reports and management letters directly to the commission in compliance with this rule.
- (9) At the conclusion of the engagement, provide management and the commission, in a mutually agreeable format, recommendations designed to help the entity make improvements in its internal control structure and operation, and other matters that are discovered during the audit.
(Indiana Gaming Commission; 68 IAC 15-14-3; filed Dec 2, 2001, 12:35 p.m.: 25 IR 1073; 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 15, 2008, 11:29 a.m.: 20090114-IR-068080430FRA; filed Aug 16, 2010, 3:37 p.m.: 20100915-IR-068100064FRA; readopted filed Nov 28, 2016, 4:15 p.m.: 20161228-IR-068160383RFA; readopted filed Oct 17, 2022, 11:45 a.m.: 20221116-IR-068220276RFA; readopted filed Nov 22, 2023, 8:28 a.m.: 20231220-IR-068230610RFA)