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Can you summarize 4 PACS 1322?
LICENSEES > Slot machine accounting controls and audits.
Short Summary
This legal document governs the approval, internal controls, and audit protocols for slot machine license applicants in Pennsylvania. It requires slot machine license applicants to obtain approval from the board and the department for their proposed site plans, internal control systems, and audit protocols before installing and operating slot machines at the licensed facility. The proposed internal controls and audit protocols must safeguard assets and revenues, provide reliable records and reports of financial events, ensure compliance with management’s authorization, maintain accountability for assets, and segregate functions and responsibilities. The document also outlines the requirements for the applicant’s administrative and accounting procedures, including record retention, safeguarding assets, and count procedures. The chief financial officer and chief executive officer of the proposed licensed gaming entity must attest that the system satisfies the requirements. The document does not specify penalties for non-compliance or violations.
Whom does it apply to?
Slot machine license applicants
What does it govern?
Slot machine accounting controls and audits
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
Not specified.
Jurisdiction
Pennsylvania