An internal audit assessment of a Maltese remote gaming company

Abstract

Purpose: The purpose of this case study was to assess the main internal audit functions of a Maltese remote gaming company and the relevance of IT audit for the company. Additionally, internal controls, risk and compliance management and corporate governance were evaluated to understand better the internal audit assessment. Design: The case study took a qualitative approach. Semi-structured interviews were carried out with the internal auditor, CEO, finance manager, IT manager, compliance manager and HR manager in the Maltese remote gaming company, assessing and analysing their views and techniques used with respect to internal audit procedures used and any conclusions derived from the internal audit process. Findings: The case study reveals significant aspects to carry out an internal audit for a remote gaming company. The main departments assessed confirms the relevance of internal audit and that due diligence is properly maintained throughout. Internal controls are properly constructed and supervised by the remote gaming company and the internal auditor provides valuable insights to further enhance such controls. Finally, IT audit is gaining more importance, especially since the company operates remotely, to aid internal auditor in coming up with a true and fair view of the company. Conclusion: Internal audit is vital for a remote gaming company especially since large amounts of transactions are performed daily to prevent fraudulent scenarios. As the company is operating remotely, IT audit needs to be implemented further mainly for security reasons. Value: This case study confirmed the importance of the internal audit assessment of a Maltese remote gaming company, in an industry with a higher probability of risk compared with other industries.