The eCOGRA Regulatory Compliance Services Department shall ensure that seal holders meet these requirements by reviewing the seal holders’ software, gaming data, websites and acceptable financial and control practices used to meet this objective. Where applicable, the average payout percentage (being the percentage of winnings to wagered amounts) shall be regularly reviewed. The final results output of the random number generator shall be reviewed and shall incorporate appropriate statistical tests.
Read more http://www.ecogra.org/
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Who is eCogra?
eCogra, an approved testing agency, and works as a vital part of the online gambling industry. They were established in 2003, and are located the United Kingdom. The job duties carried out by the staff is extremely pertinent for company’s success. The possibility of the same issues arising in a physical environment exists on the internet as well. These issues include underage gambling, privacy, marketing, billing, customer relationship management, security.
In order to keep operations flowing, business online must stay compliant. Less than 80 companies have turned to eCogra for their internet compliance services. eCogra is management controlled. Their team consists of employees experienced in areas including legal, finances, business administration, and IT Auditing
and Chartered Accountants.
Employees not only have to be online gaming specialist, but they must hold expertise in advanced technology, as well has been able to complete remote and onsite evaluations of systems. Some members of eCogra’s staff have to hold certifications in Information System Auditing and are well versed in the standards pertaining to audit.
eCOGRA follows a risk-based approach as far as possible, and the methodology for testing incorporates a combination of:
Substantive testing, where verification is obtained through assessment of relevant source evidence or visual website representation. Substantive testing employs predominantly point-in-time time testing; and
Internal control evaluation, which incorporates an identification of the financial objective, the risks surrounding that objective, and the organisational response to that risk in the form of an internal control. The control is then assessed through selecting a random sample of transactions and conducting walk-through testing to verify that the result of the transaction is in accordance with the anticipated outcome. The effectiveness of the control is further assessed through analysing the communication thereof to relevant employees.
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