Too many audits & reviews? 

how NT sportsbetting businesses halve the reviews



Northern Territory sports bookmaker - annual review

The Northern Territory Department of Attorney General and Justice licenses Sports bookmakers and betting exchange operators.

The NT Government requires:

(1) sports bookmaker systems to be audited; and

(2) information security management system (ISMS) to be audited annually.

The ISMS audit based on ISO 27001 Annex A controls.

The audits at (1) & (2) must be undertaken by an approved organisation. The annual audit causes a cost and time disruption to the sports bookmaker business.

AML/CTF Part A regular independent review

Sports bookmakers in Australia fall under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) defines sports bookmakers as reporting entities. It mandates that reporting entities must have an AML/CTF program and "Part A of the AML/CTF program must be independently reviewed at regular intervals and the reporting entity must ensure the independence of the reviewer".

The regular independent review requires an appropriate independent reviewer. Again there's time and cost associated with the AML/CTF regular review.

Problem

Both reviews are mandated by law, both reviews add cost to sports bookmaker businesses.

Two reviews = disruption * 2 + cost * 2.

Solution

Find one suitable auditor and get both audits done once = Governance Associates (one audit, one auditor, reduced cost, reduced disruption).

Governance Associates is approved by NT Government to perform systems audits, we undertake annual ISMS audits against NT requirements (ISO27001 Certified ISMS Lead Implementer (CIS LI) and ISO27001 Ceritified ISMS Lead Auditor (CIS LA)). Our NT auditor is also approved by AUSTRAC as an "external auditor" pursuant to the AML/CTF Act and have Certified Anti-Money Laundering Specialists (CAMS) on our team, we undertake AML/CTF reviews per Australia's AML/CTF Act & Rules. Governance Associates offer a unique opportunity to co-join reviews and provide transparent cost (and time) savings to NT sports bookmakers.

Alternately, use the same expertise to impelement compliant ISMS and AML/CTF programs!