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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)
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Scope of Financial Audit Work • Financial Statement Audit (IGRA) – Gaming Activities • Gaming Vendor Testing (>$25,000) • Communication Letters (NIGC Bulletin 2009-1)
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