MGA sets new Audit Service Providers Prerequisites

20 Mar 2018

mga audit serviceThe Malta Gaming Authority (MGA) is about to change its regulatory framework and strengthen its controlling processes in order to set higher standards to its cooperators. As a result, from April 1st onward, licensed or about to be licensed providers by the Maltese Authority may come in terms with their preferred Service Provider when the MGA requires within a specific time schedule a system and/or a compliance review.

Applications for Audit Service Providers

Service Providers wishing to be licensed by MGA in order to operate as auditors must:

• Fill in and submit an Audit Service Provider Application Form, along with the necessary documents; • Meet all the Audit Service Provider criteria; • Certify that at all times two or more partners or directors or not less than one partner or director and one lead auditor, are fully authorized to perform as auditors; • Ensure that the approved auditors as a whole are financially and IT qualified • Pay the non-refundable Audit Service Provider approval fee (€1,000); • Pay the annual Service Provider maintenance fee (€500) in advance.

In order to perform as an Auditor, the Service Provider must fulfil all the prerequisites mentioned above. The license has a two (2) years validity from the day of issuance. Service providers are forbidden to sub-contract any part of the services as part of the new regulations.

The MGA will reevaluate Compliance and/or Systems Audit reports frequently in order to ensure that the service fulfills al the required criteria. Depending on this control, the Authority has every right to dismiss the Service Providers non-respectful to the new standards.

10,000+ have already benefited from Bookmakers.bet

Register to our newsletter and be the first to get our exclusive bonuses and promotions. Fill in your name & email and stay tuned on the latest offers and the new bookmakers in your country.

I agree with the terms of use.

BOOK SPY

Bet-at-home AG has announced that it bolstered its commercial status and its revenue, in spite of the €11.5 million Austrian tax burden that was impos...

Read more »

LeoVegas has restored its five-year Swedish gambling license, since it managed to win its appeal against the country’s gaming regulator Spelinspektion...

Read more »

The popular online bookmaker Interwetten has announced the signing of a sponsorship deal with the Greek Super League, which is the top tier football l...

Read more »

William Hill signed a new sports betting partnership with the NBA and became the official bookmaker of the best basketball league in the world. With t...

Read more »

Bethard has announced that it entered the Spanish market and that it will be operating under its official .es domain. Its Spanish sportsbook, which is...

Read more »

A new draft law on online gambling was submitted to the Greek Parliament on the evening of 9/10/2019. The new draft has radically taken a different di...

Read more »

The Italian football club Juventus has signed a three-year partnership agreement with 10Bet. The popular online bookmaker is now the official gaming a...

Read more »

A huge and most surprising move has been made from the William Hill board, which has announced an unexpected change in the brand’s leadership. As the ...

Read more »

The well-known betting exchange Matchbook has officially declared that it will be charging a set 2% commission on all sports wagering that takes place...

Read more »

The new season in the Premier League is about to begin and most of the sides are finalizing their new partnerships. The latest is the one that sees Ma...

Read more »