On the 25th November 2021, the Malta Gaming Authority issued a notice reminding gaming licensees that in terms of their obligations under the Gaming Authorisations and Compliance Directive (Directive 3 of 2018), licensees are required to ensure that:
It should be noted that the abovementioned ISRS Report is distinct from the statutory auditor’s report.
The said ISRS Report is to be submitted to the MGA within 180 days from the company’s financial year end. As an exception, the ISRS Report due for the year ending December 2021, may instead be submitted by 31 October 2022 to allow sufficient time to adjust to such new requirement.
The Malta Institute of Accountant Gaming Committee in collaboration with the MGA also issued two Technical Releases relating to the carrying out of such engagements, which together with the MGA’s notice, may be accessed here.
Article written by Senior Associate Dr Terence Cassar.