ACC 406 EXAM 1 STUDY SHEET 2026 FULL
SOLUTION GUARANTEED TO PASS
⫸ Who do you report audit work to? Answer: Audit committee and to
senior management/ownership personnel independent of department
under review.
⫸ What re the CPA MICS Compliance reporting requirements?
Answer: Standardized agreed-upon procedures, sample sizes,
document standards and report format required by 6.090(9).
⫸ Regulation 6.090 requires? Answer: - Establishes minimum
standards for internal control procedures
- Requires licensee to submit a written system of internal controls
- The submitted system of internal controls is compared to the MICS
- Detailed, narrative description of the licensee's procedures in effect
that demonstrate compliance with the MICS
- Written system of internal controls
⫸ What details should be included in the written procedures?
Answer: Job titles
Procedures performed
How and where the procedure is performed
,⫸ What do you reference a written system of internal controls?
Answer: Reference to the applicable MICS number with a table that
cross references each MICS to the page number where each MICS is
addressed
⫸ What percentage does the CPA have to retest to see if internal audit
cross referenced correctly? Answer: 10%
⫸ What procedures must be done with the CPA MICS Compliance
Checklist? Answer: Perform inquiries, observations, and document
compliance testing.
Unannounced observation of slot and table drop and count.
⫸ What is tested during drop and count? Answer: Key controls and
currency counter must be tested.
⫸ When do you enter and leave the count room? Answer: After the
count is in process and cannot leave until funds are accepted.
⫸ If you change location from surveillance you must? Answer:
Review and document your transit period.
⫸ Can you test documents in consecutive months? Answer: No
⫸ Who does the CPA MICS Compliance Checklist - Internal Audit?
Answer: External audit - CPA firm and GCB Board
,⫸ How often is the CPA MICS Compliance Checklist - Internal Audit
completed? Answer: Once a year
⫸ The licensee must do what in an instance of noncompliance?
Answer: Develop responses that implements corrective measures and
transmits the responses to the Board.
⫸ Can you use Internal Audit to complete the CPA MICS
Compliance Checklist? Answer: Yes
⫸ What standards must be met so that Internal Audit can substitute
CPA work on the CPA MICS Compliance Checklist? Answer: - The
IA department reports directly to audit committee or senior
management/ownership
- Supervisor or manager has a CIA or CPA with 2 years of auditing
experience
- 50% of audit staff must possess a 4 year degree or advanced degree
- Performs observations, inquiries, and documents the work
performed
⫸ What is the CPA required to perform? Answer: Review of internal
controls
One unannounced observation of slot and table drop and count
(including key controls)
Completion of the CPA MICS Compliance Checklist - Internal Audit
, ⫸ What is considered a qualifying employee with regulation 3.100?
Answer: A person whose responsibility it is to directly oversee the
department or functions of the operations of pretty much any
department and employees who monitor club venues.
⫸ Slot machines requiring dedicated camera coverage should provide
coverage of all the following except:
- The bill-in and wagering instruments slots
- All employees at the slot machine
- The face of the slot machine
- All patrons at the slot machine Answer: The bill-in and wagering
instruments slots
⫸ Surveillance personnel must do all of the following except:
- Be knowledgeable of the games and house rules ...
- Provide access to any agent of the board immediately upon request
and presentation of proper identification.
- Immediately contact the enforcement division in the event of a
dedicated camera malfunction.
- Be trained in the use of the surveillance equipment Answer:
Immediately contact the enforcement division in the event of a
dedicated camera malfunction.
⫸ Table game progressive meter jackpot amounts must be recorded
and monitored by a dedicated camera for each meter, even if several
tables are linked to the same progressive jackpot meter. Answer: False
SOLUTION GUARANTEED TO PASS
⫸ Who do you report audit work to? Answer: Audit committee and to
senior management/ownership personnel independent of department
under review.
⫸ What re the CPA MICS Compliance reporting requirements?
Answer: Standardized agreed-upon procedures, sample sizes,
document standards and report format required by 6.090(9).
⫸ Regulation 6.090 requires? Answer: - Establishes minimum
standards for internal control procedures
- Requires licensee to submit a written system of internal controls
- The submitted system of internal controls is compared to the MICS
- Detailed, narrative description of the licensee's procedures in effect
that demonstrate compliance with the MICS
- Written system of internal controls
⫸ What details should be included in the written procedures?
Answer: Job titles
Procedures performed
How and where the procedure is performed
,⫸ What do you reference a written system of internal controls?
Answer: Reference to the applicable MICS number with a table that
cross references each MICS to the page number where each MICS is
addressed
⫸ What percentage does the CPA have to retest to see if internal audit
cross referenced correctly? Answer: 10%
⫸ What procedures must be done with the CPA MICS Compliance
Checklist? Answer: Perform inquiries, observations, and document
compliance testing.
Unannounced observation of slot and table drop and count.
⫸ What is tested during drop and count? Answer: Key controls and
currency counter must be tested.
⫸ When do you enter and leave the count room? Answer: After the
count is in process and cannot leave until funds are accepted.
⫸ If you change location from surveillance you must? Answer:
Review and document your transit period.
⫸ Can you test documents in consecutive months? Answer: No
⫸ Who does the CPA MICS Compliance Checklist - Internal Audit?
Answer: External audit - CPA firm and GCB Board
,⫸ How often is the CPA MICS Compliance Checklist - Internal Audit
completed? Answer: Once a year
⫸ The licensee must do what in an instance of noncompliance?
Answer: Develop responses that implements corrective measures and
transmits the responses to the Board.
⫸ Can you use Internal Audit to complete the CPA MICS
Compliance Checklist? Answer: Yes
⫸ What standards must be met so that Internal Audit can substitute
CPA work on the CPA MICS Compliance Checklist? Answer: - The
IA department reports directly to audit committee or senior
management/ownership
- Supervisor or manager has a CIA or CPA with 2 years of auditing
experience
- 50% of audit staff must possess a 4 year degree or advanced degree
- Performs observations, inquiries, and documents the work
performed
⫸ What is the CPA required to perform? Answer: Review of internal
controls
One unannounced observation of slot and table drop and count
(including key controls)
Completion of the CPA MICS Compliance Checklist - Internal Audit
, ⫸ What is considered a qualifying employee with regulation 3.100?
Answer: A person whose responsibility it is to directly oversee the
department or functions of the operations of pretty much any
department and employees who monitor club venues.
⫸ Slot machines requiring dedicated camera coverage should provide
coverage of all the following except:
- The bill-in and wagering instruments slots
- All employees at the slot machine
- The face of the slot machine
- All patrons at the slot machine Answer: The bill-in and wagering
instruments slots
⫸ Surveillance personnel must do all of the following except:
- Be knowledgeable of the games and house rules ...
- Provide access to any agent of the board immediately upon request
and presentation of proper identification.
- Immediately contact the enforcement division in the event of a
dedicated camera malfunction.
- Be trained in the use of the surveillance equipment Answer:
Immediately contact the enforcement division in the event of a
dedicated camera malfunction.
⫸ Table game progressive meter jackpot amounts must be recorded
and monitored by a dedicated camera for each meter, even if several
tables are linked to the same progressive jackpot meter. Answer: False
