5/9/18
What is an Audit? CPA Work Scope & Standards:
• Financial Statement Audit (GAAP & GAAS) • Financial Statement Review (GAAP & SSARS) • Operational Agreed Upon Procedures (Efficiency & Effectiveness) • Compliance AUP (Laws & Regulations) • Consulting Engagement • CPA Licensing
Why Financial Audit? • Accountability to Tribal Council and Tribal Membership • Accountability to External Financial Statement Users • IGRA, NIGC, Tribal Gaming Ordinance, State Compact • Filing Deadlines: o 120 Days – NIGC o Penalties up to $25,000/Day o State Compact (Depends) o NIGC TB 2009-1
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