Virginia Code 59.1-559: Independent audit required; submission to Department
Current as of: 2023 | Check for updates
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A registered operator shall (i) annually contract with a certified public accountant to conduct an independent audit, consistent with the standards accepted by the Board of Accountancy; (ii) annually contract with a testing laboratory recognized by the Department to verify compliance with the provisions of subsection D of § 59.1-557; and (iii) submit to the Department a copy of the (a) audit report and (b) report of the testing laboratory as required by clause (ii).
Terms Used In Virginia Code 59.1-559
- Contract: A legal written agreement that becomes binding when signed.
- Department: means the Department of Agriculture and Consumer Services. See Virginia Code 59.1-556
- operator: means a person or entity that offers fantasy contests for a cash prize to members of the public. See Virginia Code 59.1-556