Each bill is not counted individually. Rather, bundles of cash are compared. Therefore, it is important for the auditor to fan bundles to make sure the cash is of the same denomination. If there are any investigations being made by government enforcement agencies, the auditor should be aware of the stage of any such investigation and management's and counsel's expectations of the outcome. These matters should be described by management in its representation letter to the auditor.
Regulations require many casinos to have internal audit staffs.
The internal auditor's work involves observation of casino activities, and, accordingly, the auditor should consider the difficulties associated with examining documentary evidence of the auditor's work. For internal control, the auditor should be aware of controls over authorization, accountability and safekeeping. The auditor should determine if a casino has earned as much revenue as is reported in financial statements, and if the statements report as much revenue as was actually earned. In other words, the auditor is interested in the completeness assertion. If the auditor is not able to obtain evidence of a strong control structure for the controls above, the auditor should have a scope limitation and should modify the opinion.