Casino Audit & Assurance Services
We have seen audit and assurance work become a commodity with the cost cutting and competition stemming from the economic environment over the past few years. At JOSEPH EVE, we have not changed our philosophy of focusing on adding value to our clients through the audit process, not simply performing the minimal required work in accordance with standards and issuing an opinion. We make internal controls a focus point, use powerful software to extend our auditing and analytical capabilities, and provide each audit client a free copy of our Indian Gaming Cost of Doing Business Report .
We pride ourselves in providing the most value in the Indian Gaming audit industry. Our values and devotion to quality allow us provide high quality personalized attention to the needs of the Indian organizations we serve.
Casino Audits
Our innovative Casino Audit Edge process changes the ways casinos view the audit process by:
- Reducing disruptions to your day to day operations by using portal technology
- Improving efficiency and the overall audit experience
- Includes a comprehensive MICS audit component and incorporates gaming industry best practices
Any CPA firm can conduct an audit. However, it takes expertise combined with a non-adversarial approach to the audit for an audit to result in improved profitability, better internal controls, and sound policies and procedures. Our focus at JOSEPH EVE is helping you improve gaming operations through the audit process.
We believe that audits should evaluate financial practices and identify inefficiencies and any problem areas in order to strengthen the business practices of tribal casinos. Our “member of the management team” approach means that we work with you to provide solutions that can be effectively and efficiently implemented.
We see it as our job to help maximize your potential for success.
Have you ever heard your accounting people say “We had to train the auditors?” With JOSEPH EVE, only specially trained staff with state-of-the-art gaming analytical/auditing tools will be assigned to your audit.
Our audit staff consists of Certified Public Accountants, Certified Fraud Examiners, Internal Control Specialists, Internal Auditors, and Information Technology Auditors. The staff assigned to your audit will have a unique combination of education and on-the-job training that enables them to provide solutions specifically tailored to your tribal gaming operation.
In order to provide timely audits of the highest quality casinos across the country, we have invested in state-of-the-art auditing tools such as CaseWare™, an automated work paper and analytical review tool, and IDEA™, an audit tool used for analyzing accounts payable, inventory, and other income statement and balance sheet accounts for unusual transactions.
Click here for more information on AuditEdge™
MICS Compliance
An annual report on compliance is a required element in meeting the Minimum Internal Controls Standards. This report can be completed as part of the annual audit or as a separate engagement. In either case, the gaming experts from JOSEPH EVE will determine your casino’s compliance through clandestine observations of internal controls, departmental walk-through, operating effectiveness testing, risk assessments, and detailed testing of gaming transactions. Our report will also include detailed recommendations for improving compliance.
Internal Audit Services (Outsource, Training, or Implementation)
The internal audit process can often be entangled in tribal politics. Although many casinos have developed in-house internal audit departments, many tribes have found that it is beneficial to outsource this function.
At JOSEPH EVE we have teams dedicated to conducting internal audits and providing training and other assistance to internal audit departments. Throughout the process, we maintain open communication with those charged with governance to ensure everyone is on the same page and corrective actions to documented findings are taken.
Regardless of whether you need to meet the MICS for internal audit, establish an internal audit department, design and implement internal controls in connection with the Sarbanes Oxley Act of 2002, train new auditors, or develop/test an internal audit quality assurance program, we have the expertise available and a solution for you.
Our Internal Audit teams include industry veterans; including Certified Public Accountants, Certified Fraud Examiners, and Certified Internal Auditors.
We will exceed the minimum standards.
Title 31 Compliance (AML)
Our approach and methodology endeavors to provide a comprehensive analysis presented in a simplified and clear assessment of the results.
We will provide a comprehensive risk assessment analysis and review of the Casino’s BSA/Title 31 compliance program. Our assessment involves a detailed evaluation of factors which contribute to the risk in a respective category area. The aggregate summation of risk factors provides a strong basis for risk assessment applicable to the risk categories.
The project deliverables will entail a final written report which details the overall condition, risks identified, mitigating procedures/controls, and deficiencies within risk categories. In addition, we will identify areas of strengths and weaknesses along with corrective actions and recommendations. The risk assessment will provide you with a valuable tool in customizing your BSA Compliance program to your Casino’s specific needs and the training we provide during our assessment will allow Casino personnel to complete annual updates to your risk assessment.
Since the 9/11 disaster and the passing of the USA Patriot Act, Title 31 compliance is more important than ever. Additional Federal oversight and compliance testing coupled with the risk of terrorist financing and the associated publicity make your Anti-Money Laundering (AML) programs one of the most important aspects of casino compliance.
We offer assistance with the development of Title 31 internal controls, Title 31 training and train the Trainer programs, assistance and preparation of written money laundering risk assessments, testing of compliance, Title 31 audits, and turnkey AML programs.
Let us help you develop the best anti-money laundering program in the industry, one that will protect the Tribe’s interest and satisfy Federal oversight.
Quality Assurance Review
Internal auditing and monitoring, if done correctly, can uncover and deter fraud at your casino or Tribal government. The NIGC MICS recommend that internal audit departments follow the Standards for the Professional Practice of Internal Auditing (red book) published by the Institute of Internal Auditors (IIA). Compliance with red book standards will require the internal audit department to implement a Quality Assurance program similar to the peer review requirement for external Certified Public Accountants. More importantly, are your internal auditors completing the work, documenting or evidencing the work performed, reporting exceptions and making meaningful recommendations?
Let the experts at JOSEPH EVE complete an external Quality Assurance Review of your internal audit department. Not only will we determine your compliance with NIGC MICS, we will also determine if your internal audit department meets auditing standards. We will issue an agreed upon procedures report including recommendations to improve your internal audit function and elevate the quality of work to help uncover and deter fraud.
Learn how to revolutionize your next audit with Casino Audit Edge™. Call 406-252-3535 or email us today.