Casinos in Nevada

Masters
Research Paper
Business
Pages 10 (2510 words)
Download 0
The process of internal auditing involved in the gaming industry has, at all times subsisted in one form or the other. During the early era, dating back to the period prior to the introduction of automated slot accounting methods and secured count rooms, there was usually one individual assigned, whose only duty revolved around appraisal of the funds received and make sure that these funds were transferred safely to nearest the local bank…

Introduction

The first influence comprised of the regulation of The Institute of Internal Auditors (IIA) and the International Standards for the Professional Practice of Internal Auditing (Standards) which support the effective accomplishment of the duties in accordance with the guidance laid by the acts governing them. The second influence refers to the authoritarian failure to notice, whether an obligation or a proposal from the supervisory bodies, that an official scheme of in-house controls is implemented, which takes into account the various prerequisites which a certain type of an in-house assessment task is executed at a casino. In several jurisdictions the measures adopted and implemented by the internal audit systems are exclusively governed by such directives. The third and ultimate influence refers to the sustained participation of blatantly dealt casino corporations, which fall under the directive of the Securities and Exchange Commission (SEC) as proprietors or workers of the various functions related to the casino.
Given that the IIA's Standards direct all assessors, irrespective of the industry to which they belong, this paper focuses on the key influences which govern the money management and accounting part of the casino ...
Download paper
Not exactly what you need?

Related papers

Geothermal energy (ethical issues)
Interview: Ormat: Engineer Lucien Bronicki, who is the chairman and chief technology officer and his wife Yehudit Dita Bronicki, the cheif executive officer. …
Discuss how Market-Led Strategies can Help Business to Drive Growth and Sustain Competitive Advantage
Every business company is constituted by the large number of departments pertaining to marketing, finance, operations, human resources and the like. Again the business company in order to exist in the region or stated market need to operate based on some clear-cut objectives. The objectives of the business in total are required to match the objectives of the different departments or business units…
Business Policy Development and Implementation Critical Thinking Mod 5
Encore also an expansion of Wynn Las Vegas is located adjacent to Wynn Las Vegas featuring 2,034 all suited hotel (Wynn Resort, 2013). One of the greatest operational strength of the resort lies in the hands of the founder, Steve Wynn. Wynn resorts differentiate its resort from the competitors through an idea which states, “Bigger ain’t better. Better is better.” However, as Steve Wynn is…
MGM Resorts International
MGM Resorts International is a gaming and hospitality company located in Nevada. The company expanded from its original form of business, which consisted of owning and running resorts, to a real estate perspective. This company is the world’s second biggest gaming company. However, MGM Resorts International trails its competitors in the organisational, hospitality and food department. This…
HRM analysis
The hotel consists of more than 5000 rooms and suits for guests in four thirty storey towers, world class gourmet restaurants, 27000 square feet pool complex, Grand Spa, casino, clubs, etc. Different parts of the hotel have different themes, food courts, restraints, entertainment lounge etc. (Jay & Dwi, 2000). The hotel is set up on an area of 33 acres. MGM Grand Las Vegas most commonly offers…
Casinos in Nevada
The first influence comprised of the regulation of The Institute of Internal Auditors (IIA) and the International Standards for the Professional Practice of Internal Auditing (Standards) which support the effective accomplishment of the duties in accordance with the guidance laid by the acts governing them. The second influence refers to the authoritarian failure to notice, whether an obligation…
Changes in Financial Reporting for a Nevada Casino in regards to Regulation 9A and the SarbanOxley Act
With this in mind, it can be stated that the influence of the Sarbanes-Oxley Act adoption in 2002 on the financial reporting of the Nevada casinos is quite comparable to that of the other public companies. On the contrary, the impact of the Regulation 6A which was put into effect in 1997 was much more specific in nature. Both of these legislative acts, however, became two more integral parts of…