35 Miss. Code. R. 5-05-01-106

The licensee's internal audit department (whose primary function is performing internal audit work and who is independent with respect to the departments subject to audit) must annually submit an audit schedule to the Chairman of the MSTC.

1. (An independent accountant may perform this function in lieu of an internal audit department. For two or more licensees who essentially have common ownership, a single internal audit department for the combined properties is adequate.) The schedule must include as a minimum the audit of:

2. At least semiannually:

a. Table games - fill and credit procedures, pit credit play procedures, soft count procedures and the subsequent transfer of funds, location and control over sensitive keys, the tracing of source documents to summarized documentation, and reconciliation to restricted copies.

b. Slot machines - jackpot payout and slot fill procedures, slot drop, count and subsequent transfer of funds, surprise testing of weigh scale, slot machine case/cabinet access, tracing of source documents to summarized documentation and reconciliation to restricted copies, location and control over sensitive keys.

3. At least annually:

a. Keno department - game write and payout procedures, sensitive key location and control, and a review of keno audit procedures.

b. Card games department - card game operation, monetary exchange procedures, shill transactions, and drop and count procedures.

c. All other revenue sources - procedures for initial recording of other revenue, cash turn-in procedures and accounting procedures.

d. Cage and credit procedures - all cage, credit and collection procedures, and the reconciliation of trial balances to physical instruments on a sample basis.

e. Cage accountability reconciled to the general ledger.

4. Whenever possible internal audit observations are performed covertly (i.e., without the employees being knowledgeable that their activities are being observed). The reports generated from the audits must indicate the findings of the audit and management's response to each finding. These reports must be kept by the licensee in accordance with the record keeping requirements stated in earlier sections and available for review upon request by an agent of the Chairman.

Notes

35 Miss. Code. R. 5-05-01-106