Cite as: 4 CNCA § 43

The Gaming Commission shall promulgate regulations for internal controls and fiscal audits of all gaming activities operated by the Nation. At a minimum, those regulations shall:

1. Require minimum procedures for safeguarding the gaming operation's gaming assets and revenues, including recording of cash and evidences of indebtedness and mandatory count procedures. Such procedures shall establish a control environment, gaming accounting system, and gaming control procedures that safeguard the assets of the organization, assures that operating transactions are properly recorded, and encourage adherence to prescribed policies;

2. Require minimum reporting requirements to the Gaming Commission;

3. Shall promulgate regulations for internal controls and fiscal audits of the gaming facilities. At a minimum, those regulations shall require external and internal audits by Gaming Commission, Cherokee Nation Businesses Internal Audit or External Certified Public Accountants that meet federal requirements;

4. Ensure that an adequate accounting system and uniform code of accounts and accounting classifications are in place to assure consistency, comparability, and effective disclosure of financial information;

5. Require intervals at which such information shall be furnished;

6. Provide for the maintenance of documentation to evidence all internal work performed as it relates to the requirements of this section, and;

7. Provide that all financial statements and documentation referred to in subdivision 6 be maintained for a minimum of five (5) years.

Historical Data

LA 26–10, eff. September 13, 2010. Amended LA 10–11, eff. June 19, 2011; LA 07–14, eff. April 24, 2014; LA 17–14, eff. July 18, 2014.