S.D. Admin. R. 20:18:35:40 - Annual financial audit

A financial audit of the sports wagering operations of the licensee shall be conducted by certified public accountants authorized to practice in the state of South Dakota and provided to the commission each year within 180 days of the licensee's fiscal year that meets the following requirements:

(1) Inclusion of an audited balance sheet and audited profits-and-losses statement and breakdown of expenditures and subsidiaries of advance deposit sports wagering activities;
(2) Inclusion of a supplement schedule indicating financial activities on a calendar-year basis if the licensee's fiscal year does not correspond to the calendar year;
(3) Report of any material errors, and irregularities that may be discovered during the audit, or notice of any audit adjustments;
(4) Availability, upon request, of an engagement letter for the audit between the licensee and the auditing firm; and
(5) Inclusion of a supplemental schedule for South Dakota operations and a breakdown of sports wagering activities by each South Dakota casino in which there is an agreement. The supplemental schedule may be unaudited; however, if unaudited the top financial officer of the company shall provide a statement attesting to the accuracy of the information provided to the commission.


S.D. Admin. R. 20:18:35:40
48 SDR 014, effective 8/22/2021

General Authority: SDCL 42-7B-7, 42-7B-11(13).

Law Implemented: SDCL 42-7B-43, 42-7B-76.

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