MDIA issues the first accreditation of Systems Auditors of Innovative Technology Arrangements

The Malta Digital Innovation Authority (MDIA), in a world first, has today issued the accreditation of the first Systems Auditors (SAs) who applied for registration. The approved Systems Auditors will be listed on the official website of MDIA. The accreditation of SAs will serve as a seal of approval that certifies that they are fit and proper and have the necessary technical skills, aptitude and capability as well as experience to handle systems audits related to Innovative Technology Arrangements (ITAs).

A SA is a service provider under the Innovative Technology Arrangements and Services (ITAS) Act. Accredited Systems Auditors will carry out system reviews and will develop an opinion on the management, security and functional correctness of ITAs. The SAs must abide by the guidelines and control objectives that are published by the MDIA. These objectives have been designed with the aim to assist the SA through an Audit Framework for ITAs. Furthermore, they build upon five key principles, namely security, processing integrity, availability, confidentiality and protection of personal data. Although not mandatory, such certification by MDIA is a new service provided to operators that offers additional peace of mind and a certificate from a legislatively recognised European Authority.

The opinion of the Systems Auditors is key for the MDIA to issue certification to ITAs. ITA Applicants may approach the MDIA, on a voluntary basis, to certify their products to promote that they are fit for purpose and meeting the standards of the MDIA, an Authority that is a first of its kind. Through certification, the Authority aims to foster safer usage and protect users of innovative technology, encouraging wider adoption and increasing the prospects for investment in innovative technology, thus creating solid opportunity.

This is another step in positioning Malta at the forefront of technological innovation and in creating a ‘cutting edge hub’ for digital economy.

—commented Mr. Stephen McCarthy, CEO of the MDIA

“MDIA will play an important role in instilling trust and certainty in systems governed by innovative technology. While today we are listing the first SAs, in the coming weeks we will be issuing further accredited SAs once we ascertain that pending applications are fully in line with the guidelines we have issued in November. This is surely another milestone for Malta as the blockchain island”.