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This proposed audit and accounting guide describes operations and accounting practices that are unique to the casino industry as well as matters that are unique to the audit of a casino's financial statements. In addition, it describes some of the regulatory requirements of the industry. Specifically, the proposed guide discusses the importance of effective internal accounting controls in casinos and notes that the auditor normally relies heavily on those controls to restrict his substantive testing because individual table game transactions (bets) are not recorded. Other significant matters covered by the proposed guide areâ€” 1. The unique problems in testing cash and accounts receivable balances in casinos; 2. Illustrative financial statements; 3. The auditor's reports on internal accounting control for casinos operating in Nevada and New Jersey.
Casinos -- United States -- Auditing; Casinos -- United States -- Accounting; Casinos -- United States -- Finance
Accounting | Taxation
American Institute of Certified Public Accountants. Gaming Industry Special Committee, "Proposed audit and accounting guide : Audits of casinos ;Audits of casinos; Exposure draft (American Institute of Certified Public Accountants), 1983, May 10" (1983). Statements of Position. 459.