The Malta Digital Innovation Authority (MDIA), in a world first, has today, issued the accreditation of the first Systems Auditors (SAs) which 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 has the necessary technical skills, aptitude, 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 come up with an opinion on the management, security and functional correctness of ITAs. The SAs must abide by the guidelines and control objectives which 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, being: security, processing integrity, availability, confidentiality and protection of personal data. It is through such certification by MDIA, which although not mandatory on the applicant, that a new service to operators is being provided, giving them the additional peace of mind and a certificate from a legislatively recognised European central 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 them to the world 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 and thus more adoption, whilst at the same time increasing the prospects for investment in innovative technology and therefore, creating solid opportunity.
Mr. Stephen McCarthy, CEO of the MDIA, commented that “this is another step in positioning Malta at the forefront of technological innovation and in creating a “cutting edge hub” for digital economy. MDIA will play an important role in instilling trust and certainty in systems governed by innovative technology. Whilst 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”.