BDO Malta granted Systems Auditor licence
BDO, through its subsidiary company BDO Technology Advisory Limited, is among the first service providers in Malta to be recognised as a System Auditor by the Malta Digital Innovation Authority (MDIA). BDO Malta is currently the only firm licenced to act as both a VFA agent and a Systems Auditor.
The recognition enables BDO to conduct both Type I and Type II System Audits which are based on guidelines and control objectives issued by the MDIA.
System Audits are mandatory for Issuers and Service Providers applying for a licence under the Virtual Financial Assets Act and for Innovative Technology Arrangements (ITA) seeking a voluntary certification under the MDIA certification process.
A Type 1 System Audit is usually conducted when the ITA is in the process of applying to be certified by the Authority, or when the Authority deems it necessary. A Type 2 System Audit extends into the operational effectiveness of controls during the timeframe of the audit and is carried out periodically, or at the behest of the Authority.
The requirement to conduct System Audits came into force on November 1, 2018 as a result of Malta’s new regulatory framework around blockchain activity and Distributed Ledger Technology (DLT).
Mark Attard, CEO at BDO Malta stated: “The MDIA recognition is a significant milestone for BDO as it positions the firm in a truly unique position, as we are now the only service provider in Malta to have obtained both the MFSA VFA Agent licence as well as the MDIA System Auditor licence.”
EQT acquires Melita
EQT, a leading investment firm, has signed an agreement to acquire Melita Ltd from Apax Partners and Fortino Capital. EQT Infrastructure intends to support Melita’s growth by further upgrading its fixed and mobile networks and opening an additional data centre location on Malta.
It will also support Melita’s internationalisation strategy including its expansion in Italy as well as its innovative IoT connectivity proposition. It will continue to operate under the leadership of Harald Rösch, a longstanding Industrial Advisor to EQT and Melita CEO since April 2016.