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Can you summarize SDAR 20:18:35:39?
Requirements of sports wagering operations. > Internal control procedures audit.
Short Summary
This legal document pertains to the internal control procedures audit for licensees and sports wagering services providers in South Dakota. Licensees are required to have their internal control procedures independently audited at least once every two years. The audit results must be documented in a written report, which should be maintained and made available to the Gaming Commission. The audit can be conducted by the commission or a commission-approved third-party auditor. The audit should assess the licensee’s compliance with relevant laws, regulations, and internal control systems. The audit report must include objectives, procedures, findings, conclusions, and recommendations. Management must respond to the audit findings and outline corrective measures to be taken. Follow-up observations and examinations must be conducted to verify that corrective actions have been implemented. Licensees may leverage the results of prior audits conducted by the same third-party auditor in another sports wagering jurisdiction, with the approval of the commission. However, new audits are required for internal control procedures unique to the state. This document provides the necessary guidelines and requirements for conducting internal control procedures audits in the context of sports wagering operations in South Dakota.
Whom does it apply to?
Licensees and sports wagering services providers
What does it govern?
Internal control procedures audit
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No specific penalties are mentioned.
Jurisdiction
South Dakota