FOR IMMEDIATE RELEASE
Wednesday, February 19, 2025
Media Contact: Linda I. Smith
Tel: (340) 718-3616
Email: lsmith@casinocontrolcommission.vi
VIRGIN ISLANDS CASINO CONTROL COMMISSION RECEIVES SECOND CONSECUTIVE UNMODIFIED AUDIT REPORT
(St. Croix, U.S. Virgin Islands) – The Virgin Islands Casino Control Commission (“Commission”) announces that it has received an unmodified financial audit report from Bert Smith & Co., a licensed public accounting firm in Washington, D.C. and the U.S. Virgin Islands, for the Fiscal Year ended September 30, 2022. This marks the second consecutive year the Commission has achieved this outstanding milestone, underscoring its unwavering commitment to excellence, transparency, and sound financial management.
An unmodified or unqualified audit report is considered one of the highest assurances of an organization’s integrity and accountability. “Achieving this status for two consecutive fiscal years is a testament to the dedication, consistency, and exceptional efforts of the Commission’s Executive Staff,” said Marvin L. Pickering, VICCC Chairman and CEO.
As was reported for both FY 2021 and FY 2022, the Commission’s sole audit finding was the lack of a written formal policy for reviewing and approving transactions. However, the report notes that “while we did not find any illegitimate transactions, we believe that formalized policies and procedures are key to the prevention and detection of errors and fraud.” In response, the Commission is in the final stages of implementing a comprehensive formal accounting policy that will ensure all transactions undergo thorough review and approval. This policy will strengthen the Commission’s financial management practices and set a solid foundation for future operations.
Chairman Pickering further stated that “this is a collective achievement that we at the Commission, including our Casino Inspectors, can all be applauded for because it took team effort. I am both proud and inspired by what we have accomplished together, and I look forward to similar results when the FY 2023 audit report is completed. We remain dedicated to regaining and maintaining the public trust and confidence in our agency to fulfill its mandate to honestly and effectively license and regulate the casino industry in the U.S. Virgin Islands.”
The Commission will continue to prioritize transparency and accountability in all operations, setting new benchmarks for financial management excellence. That is our firm commitment,” concluded Chairman Pickering.
To learn more about the VICCC Audit Report Results, visit VICCC FY 2022 Unmodified Financial Audit Report or www.casinocontrolcommission.vi.
For further information, contact Linda I. Smith, VICCC Executive Director, at lsmith@casinocontrolcommission.vi or (340) 718-3616.
