Mich. Admin. Code R. 432.1902 - Purpose
Rule 902. The procedures of the internal control system are designed to ensure all of the following:
(a) That assets of the casino licensee are
safeguarded.
(b) That the financial
records of the casino licensee are accurate and reliable.
(c) That the transactions of the casino
licensee are performed only in accordance with the specific or general
authorization of this part.
(d)
That the transactions are recorded adequately to permit the proper recording of
the adjusted gross receipts, fees, and all applicable taxes.
(e) That accountability for assets is
maintained in accordance with generally accepted accounting
principles.
(f) That only
authorized personnel have access to assets.
(g) That recorded accountability for assets
is compared with actual assets at reasonable intervals and appropriate action
is taken with respect to any discrepancies.
(h) That the functions, duties, and
responsibilities are appropriately segregated and performed in accordance with
sound practices by competent, qualified personnel and that no employee of the
casino licensee is in a position to perpetuate and conceal errors or
irregularities in the normal course of the employee's duties.
(i) That gaming is conducted with integrity
and in accordance with the act and these rules.
Notes
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