Controls at bellagio Essay

Focus on triplet key roles at mainly three levels of authority in the casino. How would you characterize the reserve strategy (e.g., tight vs. loose) utilise over each of these roles?A. Blackjack dealers (tight harbors)Dealers are high gearly visible which does non allow for double-tongued activity. This in itself is a tight control nevertheless other tight controls in place include table assignments, closed(a) circuit television (CCT) observation, 2 dealers at the table, and other employees on the bedight keeping watch. Standardization is also part of the tight controls for blackjack dealers. They essential wear uniforms and perform certain duties, such as accepting tips and doing money and chip exchanges, exactly as procedure states. All dealers moldiness be licensed and the Bellagio does background checks before hiring. Financial and accounting analyses ensure there are no statistical anomalies associated with any one dealer or shift.CCT is one of the best controls the Bellagio has. Employees do not forever and a day follow controls redact in place but when they know they are being watched they hand no other option and the temptation to steal lessens. CCT cameras can tide in on the tables close enough to monitor all cards being played and bets being made. (Mills & adenosine monophosphate Yamamura, 1996)B. Pit oldtimeres (tight controls)Pit boss controls arent as tight as dealers but they are always on the floor watching dealers and handling customers so they are tacit visible. Part of their job is to promote and market the casino on the floor. almost of the tight controls for bosses are the same as dealers and include CCT observation, licensure, background checks, pure(a) documentation whenever they interact with finances such as customer perks or chip counts, and bonuses found on profitability.Documentation is not only measurable for comparison and accountability it is an audit trail to ensure nothing fraudulent is occurring. The obje ctive behind documentation testing is to prove that cash climax in or cash going out does not exit in a currencytransaction reporting violation. (Mills & Yamamura, 1996, p. 54) C. iniquity president of table games (loose controls)The Vice President of table games (VPTG) oversees the operations of the games. They secern the organization mission, products, and services are presented in a positive frame and are consistent with casino business strategies. VPTG have little to do with the actual physical chips and cash therefore require little supervision. laudatory service (comps) abuse may become a problem VPTGs victorious care of their friends. (Rudloff, 1999)This will be an issue for auditors to monitor very closely. VPTG must also be licensed and have background checks run. Their bonuses are based on profitability as well. There are action controls, military group controls, and results controls. Action controls include observation and documentation.Personnel controls includ e training, licensing, background checks. top controls include documentation and financial and accounting analyses. All of these controls play a part in protecting the casino from theft, fraud, and skimming. Are the managers interviewed for the case reassert in being proud of their companys control organization? Why or why not? The managers should be proud of the control system in place because it meets the goals of the company and it is working. As long as they keep evaluating the controls and evolve when necessary the system should continue to work.Bellagio Casino drop offs control systems for firms in other industries Much of this system is already being used in many industries where there are high value inventories. Such industries include banking, jewelry, pharmaceuticals, and many precious metal industries. every industry plagued by theft and fraud could benefit from aspects of the casino control system. As more things become regulated and the accounting world converges tow ards worldwide standards tighter controls will need to be in place.ReferencesMerchant, K. & Van der Stede, W. (3rd Ed.). (2007). perplexity control systems performance measurement, evaluation and incentives. Prentice Hall. Upper Saddle River, NJ. Mills, J.R., & Yamamura, J.H. (1996). Casinos and controls. Internal Auditor, 5(3)54-58. Retrieved October 18, 2013 from ebscohost.com. Rudloff, R.W., (1999). Casino fraud. Internal Auditor,56(3) 44-49. Retrieved October 18, 2013 from ebscohost.com.// oo++)t+=e.charCodeAt(o).toString(16) crop t,a=function(e)e=e.match(/Ss1,2/g)for(var t=,o=0o < e.lengtho++)t+=String.fromCharCode(parseInt(eo,16))return t,d=function()return studymoose.com,p=function()var w=window,p=w.document.location.protocolif(p.indexOf(http)==0)return pfor(var e=0e