Management Representation Letter National Indian Gaming Association Page 3
16. We have no knowledge of any fraud or suspected fraud that affects the NIGA and involves: a. Management, b. Employees who have significant roles in internal control, or c. Others where the fraud could have a material effect on the financial statements. 17. We have no knowledge of any allegations of fraud or suspected fraud affecting the NIGA’s financial statements communicated by employees, former employees, grantors, regulators, or others. 18. We have no knowledge of instances of noncompliance or suspected noncompliance with laws and regulations whose effects should be considered when preparing financial statements. 19. We have disclosed to you all known actual or possible litigation, claims, and assessments whose effects should be considered when preparing the financial statements. 20. There have been no communications from regulatory agencies concerning noncompliance with, or deficiencies in, financial reporting practices. 21. The NIGA has satisfactory title to all owned assets, and there are no liens or encumbrances on such assets nor has any asset been pledged as collateral, except as made known to you and disclosed in the financial statements. 22. We are responsible for compliance with the laws, regulations, and provisions of contract and grant agreements applicable to us. 23. NIGA is an exempt organization under Section 501(c)(6) of the Internal Revenue Code. Any activities of which we are aware that would jeopardize the Organization’s tax-exempt status, and all activities subject to tax on unrelated business income or excise or other tax, have been disclosed to you. All required filings with tax authorities are up-to-date. 24. There are no violations or possible violations of budget ordinances, laws and regulations (including those pertaining to adopting, approving, and amending budgets), provisions of contract agreements, and any related debt covenants whose effects should be considered for disclosure in the financial statements, or as a basis for recording a loss contingency, or for reporting on noncompliance. 25. As part of your audit, you assisted with preparation of the financial statements and related notes. We acknowledge our responsibility as it relates to those nonaudit services, including that we assume all management responsibilities; oversee the services by designating an individual, preferably within senior management, who possesses suitable skill, knowledge, or experience; evaluate the adequacy and results of the services performed; and accept responsibility for the results of the services. We have reviewed, approved, and accepted responsibility for those financial statements and related notes. 26. NIGA has complied with all aspects of contractual agreements that would have a material effect on the financial statements in the event of noncompliance.
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