Audits

PURPOSE: This rule establishes standards for audits. (1) The annual financial audit shall be conducted by an independent certified public accountant (C.P.A.) in accordance with generally accepted auditing standards as follows: (A) Audit the licensed operator’s annual financial statements in order to report on the fair representation of such amounts. The C.P.A. shall reconcile these audited amounts to similar amounts on the annual financial reports and system reports; and (B) Audit the annual total entry fees, entry fees from players located in Missouri, location percentage calculation, winnings paid, net revenue, and the annual operation fee from the most recently filed Annual Operation Fee report, in order to report on the fair representation of such amounts. The C.P.A. shall reconcile these audited amounts to similar amounts on the annual financial reports and system reports. AUTHORITY: section 313.910, RSMo 2016, and sections 313.915, 313.940, 313.950, and 313.955, RSMo Supp. 2019.* Emergency rule filed Aug. 29, 2016, effective Sept. 8, 2016, expired March 6, 2017. Original rule filed Aug. 29, 2016, effective March 30, 2017. Amended: Filed March 1, 2018, effective Oct. 30, 2018. Amended: Filed Oct. 31, 2019, effective June 30, 2020. *Original authority: 313.910, RSMo 2016; 313.915, RSMo 2016, amended 2019; 313.940, RSMo 2016, amended 2018; 313.950, RSMo 2016, amended 2019; and 313.955, RSMo 2016, amended 2019.