24 NCAC 06A .0405 Administrative and Accounting Procedures

The Operator's Internal Controls shall include a detailed narrative description of the administrative and accounting procedures designed to satisfy the requirements of these Rules, including:

(1) Administrative controls and procedures designed to ensure that activities and transactions of the Operator are started and completed in accordance with the applicable policy or procedure.

(2) Accounting controls, as detailed in Rules in this Section and Section .0700 of this Subchapter, which include, as their primary objectives:

(a) processes for recording the collection of Wagers, payment of Wagers, and cancellation of Wagers issued in accordance with generally accepted accounting principles; and

(b) requirements for an annual financial audit.

(3) Reporting controls which shall include policies and procedures for the timely reporting of standard financial and statistical reports and information in accordance with these Rules.

(4) Access controls which include, as their primary objective, the safeguarding of company assets to include safeguards in the form of organizational safeguards.

(5) Provisions to ensure that Internal Controls related to:

(a) Responsible Gaming Plans comply with Section .0600 of this Subchapter;

(b) Wagering Accounts comply with Section .0700 of this Subchapter; and

(6) All other applicable policies and procedures required pursuant to these Rules.

History Note: Authority G.S. 18C-114(a)(14);

Previously adopted as Rule 1D-005;

Eff. January 8, 2024;

Readopted Eff. March 27, 2024.