Understanding Vulnerabilities • A Cash Intensive Environment Intensifies Temptation to Steal. • A Cash Intensive Environment WITHOUT Good Internal Controls Significantly Increases the Likelihood of Theft and Fraud. • Increasing the Probability of Discovery Decreases the Probability that Theft or Fraud will Succeed.
Effective Internal Control Systems Require: • Standards (NIGC MICS; Tribal Internal Controls). • Methods and Procedures for Implementation. • Cooperation and Commitment at All Levels. • Compliance Monitoring. • Enforcement.
Homer Law, Chtd. 2013
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