Recently the Department have replaced the sign off required on the financial forecast information submitted with your GC7 licence renewal application (Part D). This new process is not an additional step but instead replaces the old sign off.

What has changed?

The Department requires the forecast information provided in Part C of the Gaming Machine Account Summary form, to be verified. This is known as agreed-upon procedures.

This needs to be carried out in accordance with APS -1 Statement of Agreed-upon Procedures Engagement Standards and Guidelines of the New Zealand Institute of Chartered Accountants. Your Accountant will be able to assist with this.

Who completes the forecast sign off?

The Club’s Auditor or an Independent Chartered Accountant (CA) with a Certificate in Public Practice (CPP).

What's the difference between the old sign off and the new sign off on the forecast information?

Previously the Department have required an auditor to provide reasonable assurance on the forecast information. This is the highest level of assurance and can be costly.

The Agreed-upon Procedures provide the Department with no assurance on the forecast information.

Where is the forecast sign off?

You can find it on page 8 (Part D) of the Gaming Machine Account Summary (GC7 application form).

An illustrative report can also be found on The Department of Internal Affairs website using the link below;

Class 4 Gambling: Audited Financial Statements