Initial Internal Controls Clause Samples
The Initial Internal Controls clause establishes the baseline procedures and safeguards that an organization must implement at the outset of an agreement or project to manage risks and ensure compliance. Typically, this involves setting up systems for monitoring financial transactions, access to sensitive information, and adherence to relevant laws or standards. By defining these controls from the beginning, the clause helps prevent fraud, errors, and regulatory violations, thereby promoting operational integrity and accountability.
Initial Internal Controls. The Tribal Gaming Agency shall forward to the State Gaming Agency its initial Internal Controls for ETG Systems for review and concurrence. The Tribal Gaming Agency shall detail how the Internal Controls meet or exceed the requirements described in this Appendix or any related MOU. The State Gaming Agency concurrence with the Tribal Gaming Agency proposal shall be deemed granted after twenty (20) days of receipt of the Tribal Gaming Agency proposal if no disapproval in writing is received from the State Gaming Agency. The State Gaming Agency shall only disapprove such portions of a proposal it finds would have a material adverse impact on public interest or on the integrity of ETG System(s) and shall detail the reasons for disapproval. If a dispute regarding this process cannot be resolved by the Tribal Gaming Agency and State Gaming Agency within thirty (30) days, the Parties may seek dispute resolution pursuant to the Compact.
Initial Internal Controls. The Tribal Gaming Agency shall forward to the State Gaming Agency its initial Internal Controls for ETG Systems for review and concurrence per Compact Section XI.A.