Internal Controls Worksheet
In addition to any other documented procedures an organization has approved and implemented, an organization must use the LG202 Internal Controls Worksheet.
The worksheet is used to clarify who may and may not perform functional responsibilities and provides for a proper segregation of responsibilities. The worksheet contains shaded areas to show who may not perform certain responsibilities. This worksheet should be reviewed and updated at least once each year or whenever there are staff/personnel changes.
Objectives of Internal Controls
An organization is responsible for developing a system of internal accounting and administrative controls for its gambling operation that will help the organization to:
- develop a plan for recording, counting, depositing, and verifying gambling funds and resolving any discrepancies;
- determine procedures and accountability for inventory control, opening and closing games, auditing closed games, and resolving any discrepancies;
- maintain security of gambling funds and equipment;
- spend gambling proceeds for lawful purposes and allowable expenses as approved by the organization’s membership;
- protect the organization from theft and fraudulent reporting and ensure compliance with reporting requirements; and
- ensure that fair play of games to the public is not restricted.
