As Ontario’s iGaming market continues to grow, operators are required to demonstrate sound financial reporting and internal control practices in accordance with iGaming Ontario (iGO)’s regulatory framework. These requirements, set out in the Operating Agreement (OA) and Finance Policy, promote transparency, accountability, and consistency across the sector.
Financial Reporting Requirements
Operators must prepare and submit both unaudited and audited financial information using iGO’s prescribed templates as follows:
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April 30: Unaudited GGR schedule, reconciliation, and supplemental information.
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May 15: Audited financial statements, management statement, and independent auditor’s report.
Audits should be conducted under one of the following assurance frameworks: Canadian Auditing Standards (CAS 800/805), AICPA AU-C 800/805, or International Standards on Auditing (ISA 800/805).
Agreed-Upon Procedures (AUP) Reporting
In addition to the annual financial audit, operators are required to submit an Agreed-Upon Procedures (AUP) Report to meet the Report on Key Internal Controls (RKIC) obligation under Section 10.01 of the Operating Agreement.
The AUP engagement must be performed in accordance with ISRS 4400, CSRS 4400, or AICPA AT-C Section 215, or an equivalent standard.
Key control objectives addressed in the AUP include:
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Accuracy of weekly GGR data and quarterly eligible deductions
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Review of GGR adjustments and fund management processes
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Segregation of GGR funds and controls over player wallets and unsettled wagers
The submission deadline is June 15 / 120 days after the fiscal year-end.
How can we help?
BDO provides assurance over the completeness, accuracy, and reliability of reported Gross Gaming Revenue (GGR) and related financial information, as well as the effectiveness of key internal controls. Our team delivers timely, high-quality reports that help operators meet iGO’s requirements and maintain confidence in their financial reporting frameworks.
For more information on our iGO audit and AUP reporting services