Independent Auditor's Report Members of the Executive Committee Indian Gaming Association Washington, D.C.
Opinion We have audited the financial statements of Indian Gaming Association (the "IGA"), a nonprofit organization which comprise the statements of financial position as of December 31, 2025 and 2024, and the related statements of activities, functional expenses, and cash flows for the years then ended, and the related notes to the financial statements. In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the financial position of Indian Gaming Association as of December 31, 2025 and 2024, and the changes in its net assets and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America (''GAAP''). Basis for Opinion We conducted our audits in accordance with auditing standards generally accepted in the United States of America ("GAAS"). Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of Indian Gaming Association and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Emphasis of Matter - Change in Accounting Principle As discussed in Note 1 to the financial statements, Indian Gaming Association elected to early adopt Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) No. 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets , effective January 1, 2025. In connection with this adoption, Indian Gaming Association elected a practical expedient to estimate expected credit losses by assuming that current economic conditions at the statement of net position date will persist through the remaining life of its current accounts receivable and contract assets. Our opinion is not modified with respect to this matter.
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