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Can you summarize 12 RCSA 865-28?
Online Casino Gaming, Retail and Online Sports Wagering, Fantasy Contests, Keno and Online Sale of Lottery Tickets (Department of Consumer Protection) > Financial Reporting and Auditing
Short Summary
This legal document governs the financial reporting and auditing requirements for master wagering licensees and online gaming operators in the state of Connecticut. It outlines the obligations and procedures that these entities must follow in relation to independent audits, financial statements, internal controls, and reporting. The document requires master wagering licensees and online gaming operators to have an independent certified public accountant audit their books and accounts at least once each fiscal year. It also mandates the submission of audited financial statements to the Department of Consumer Protection within 150 days after the close of the fiscal year. Additionally, the document requires the provision of various reports and documents to the department, including audit reports, organizational charts, and management representation letters. It also establishes reporting requirements for related-party transactions and fantasy contests. The document emphasizes the implementation of recommendations resulting from independent audits and grants the department the authority to conduct audits of financial reports or internal controls. Overall, the document aims to ensure transparency and accountability in the financial operations of master wagering licensees and online gaming operators in Connecticut.
Whom does it apply to?
Master wagering licensees and online gaming operators in the state of Connecticut
What does it govern?
Financial Reporting and Auditing for master wagering licensees and online gaming operators
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
Not specified.
Jurisdiction
Connecticut