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Gamming Assocaites on Absolute Poker Legitamcy

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  1. Cubs567 Cubs567 is offline

    Chicago, IL
    United States

    Posts: 424
    Joined: Feb 06

    Oct 18th, 2007 (10/18/2007 2:44am)

    After doing some research on my own, I don't think there is any way Gaming Associates (GA) can provide a "clean" audit of Absolute Poker. The main reason for this is because Absolute Poker's security controls are backed by the Kahnawake Gaming Commision, which in turn hires "GA" to do their auditing.

    What I'm essentailly saying is that GA in the past audited, or should have audited Absolute Poker because they were assocaited with Kahnawake Gaming Commision (KGC), which means that KGC and GA have a personal stake in Absolute Poker and cannot be trusted with information. I'm sure GA will report some sort of fraud and internal control failures, but won't report anything that isn't currently already known, or found out before their report is published.

    In addition, since KCG does NOT operate in the United States, it does not have to abide by United States laws, especially the Sarbanes Oxley Act of 2002. This means that the statments previously audited cannot be trusted due to their lack of control standards. In addition, there is a very good chance that KCG has stake in AP and is being paid consulting fees as a portion of AP's profits, which is another reason the upcoming audit cannot be trusted.

    Sorry for all the accounting jargon.

    Cliff Notes Version: A U.S. based company should audit AP to determine any flaws. A cleaner auditing opinion would most likely be given by someone w/ no accounting knowledge, rather than GA.
  2. Dyzalot Dyzalot is offline

    Candia, NH
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    Oct 18th, 2007 (10/18/2007 2:52am) in reply to Cubs567

    Keep an open mind. This is taken from their website.

    Gaming Associates (ga) offer industry leading experts, providing expert services, meeting the specific needs of regulated gambling industries since 1990. Regulated internet gaming was pioneering by our consultants. We have the world's first internet gambling regulator and world's first regulated internet gambling systems tester on staff! Our staff includes the only interactive gaming consultant in the world recognised as sufficiently expert to be summonsed as a witness before the 1999 Australian Senate Select Committee into Australia's Online Gambling Industries.

    Regulated internet gaming has demonstrated a need for specialised services since the mid 1990's, we have been there every step of the way. Involved in all facets of commercial and regulated interactive gambling.

    ga customers include government regulators seeking appropriate regulation, internet systems vendors seeking cost effective controls for information governance and security, internet systems operators seeking approved control systems, quality assurance or systems certification; and investors seeking technical due diligence and governance assessment reports during acquisitions and mergers.

    Our consultants are internationally accredited - recognised by ISO/IEC and ANSI as information systems security professionals per ISO/IEC17024 .

    As an internationally recognized Accredited Testing Facility (ATF), Gaming Associates offer a full range of testing and consultation services for Terrestrial (traditional / land-based) and Interactive-based gaming, wagering, lottery, e-Commerce and information technology industries, to ensure that gaming operates in a manner that is fair, secure, and auditable.

    Our laboratories provide fully independent and impartial testing, consultation and certifications for industry operators, suppliers, and regulators. ga analyse system software and equipment, and operating environments, against manufacturer' specifications, legislative and regulatory requirements, and/or to generally accepted or best-practice industry standards. We also provide active monitoring and analysis to operators and regulators, which provide active on-going certification of continued fair and legal operations.

    ga's services are delivered by a customer-orientated and multi-disciplined team of qualified computer scientists, engineers, mathematicians and information systems auditors, and gambling regulators possessing first hand knowledge and experience in today's leading edge technologies. ga provides an impartial service that is renowned for its probity and fair dealing. It is our belief that total impartiality of a testing facility is paramount in ensuring an unbiased evaluation.

    Thus ga are able to provide expert services to all facets of the interactive gaming industry and interactive wagering industry.

    We are the world's leading consulting group to regulated interactive gambling industry.
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  3. Cubs567 Cubs567 is offline

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    Oct 18th, 2007 (10/18/2007 2:55am) in reply to Cubs567

    I read it, and Enron and WorldCom and similar corporate statements too.
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  4. Dyzalot Dyzalot is offline

    Candia, NH
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    Oct 18th, 2007 (10/18/2007 3:07am) in reply to Cubs567

    Well they've done work for a few governments, including the Northern Territory of Australia. I would at least wait to see how they do. They seem to be recognized around the world as an expert on the subject. I also don't think there is a company qualified in the US to audit online gaming software. Certainly Price Waterhouse or some of the other accounting firms that have been suggested would have no clue how to look at this situation.
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  5. aj82da6 aj82da6 is offline

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    Oct 18th, 2007 (10/18/2007 3:13am) in reply to Dyzalot

    also, audit firms have a lot to lose if they run a crooked audit
  6. Cubs567 Cubs567 is offline

    Chicago, IL
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    Oct 18th, 2007 (10/18/2007 3:26am) in reply to aj82da6

    To tell you the truth, all audit firms are crooked, just a matter of how crooked. I'm also stating that this audit isn't independent. GA should have audited AP at the outset of its launch, and every quarter until now. They obviously messed up big time.
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