National Gambling Act, 1996 (Act No. 33 of 1996)Regulations on Limited Payout MachinesChapter 233. Minimum internal control standards |
| 1) | A route operator must establish and maintain minimum standards with regard to administrative and accounting procedures for the purpose of determining the licensee’s liability for fees, levies and taxes and for the purpose of exercising effective control over regulatory matters pertaining to the business of the licensee. |
| 2) | The accounting procedures contemplated in subregulation (1) must be designed by the route operator to ensure that- |
| a) | assets are safeguarded; |
| b) | financial and operational records are accurate and reliable; |
| c) | transactions are performed only in accordance with management’s general or specific authorisation; |
| d) | transactions are recorded accurately to permit proper reporting of gambling revenues, levies and taxes; and |
| e) | functions, duties and responsibilities are appropriately segregated and performed in accordance with sound practices by competent, appropriately qualified personnel. |
| 3) | Prior to being granted approval to start operations, a route operator must submit its system of minimum internal controls for approval to the provincial licensing authority. |
| 4) | The submission of the system of minimum internal controls contemplated in sub-regulation (3) must comprise a detailed description relating to administrative and accounting procedures including- |
| a) | an organisational chart depicting segregation of functions and responsibilities; |
| b) | a description of the duties and responsibilities of each position shown on the organisational chart; and |
| c) | proof from an independent registered chartered accountant stating that the system of internal control has been reviewed by the accountant and complies with the provisions of this regulation. |
| 5) | A route operator wishing to amend its approved system of minimum internal controls must, prior to implementing such amended system, submit to the provincial licensing authority a copy of the revised system of minimum internal controls for approval. |