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PAC Internal Control Information Bulletin

PAC Internal Control Information Bulletin:

The Compliance Division of Gaming Policy and Enforcement Branch (GPEB) has put together this information bulletin to help PACs enhance their control environment and compliance with applicable gaming legislation.

PACs are accountable to its members, which consists of parents or guardians of students attending the school. PACs are often at higher risk of theft or fraud because of a lack of segregation of duties, high board turnover, and smaller boards. Further, throughout the school year, many PACs handle cash received from licensed gaming events. Having effective internal controls helps to reduce the risk of funds being misappropriated and ensures that accounting information and financial reporting is accurate.