The Maltese gambling regulator did something like this back in 2016. While the idea is good (and I support the practice in principle), it was a dismal failure in aggregate. Devil's in the details.
The regulator pre-negotiated approved rates and vetted a bunch of companies, all of which had to had presence in Malta. The audit reports have to be turned by mid-June, IIRC, and they can't really start until the accounts for the previous year have been finalised. So in practice the audits must take place between late February and mid-May. At the time the entire nation of Malta had about 450k people in total, and each audit blocks two accredited people for approximately three weeks.
Turns out there are a lot of gambling companies registered in Malta, and each pair of auditors could only process 5-6 companies within the allotted time. The country would have run out of auditors ... so they licensed a whole lot of local smaller shops as accredited gambling auditors to make up the numbers. Many of whom did not have the technical knowledge to actually even assess, let alone understand the businesses they were assigned to.
And I can say this from painful experience: there is real value having the same team of auditors for 2-3 years running. They will get to know how your company operates, and any good ones will figure out entirely new questions to ask you from year to year. By all means, be an adversarial assessor, but at least please be clued in.
Disclosure: on the receiving end as a key person in technical audits since 2015.
The regulator pre-negotiated approved rates and vetted a bunch of companies, all of which had to had presence in Malta. The audit reports have to be turned by mid-June, IIRC, and they can't really start until the accounts for the previous year have been finalised. So in practice the audits must take place between late February and mid-May. At the time the entire nation of Malta had about 450k people in total, and each audit blocks two accredited people for approximately three weeks.
Turns out there are a lot of gambling companies registered in Malta, and each pair of auditors could only process 5-6 companies within the allotted time. The country would have run out of auditors ... so they licensed a whole lot of local smaller shops as accredited gambling auditors to make up the numbers. Many of whom did not have the technical knowledge to actually even assess, let alone understand the businesses they were assigned to.
And I can say this from painful experience: there is real value having the same team of auditors for 2-3 years running. They will get to know how your company operates, and any good ones will figure out entirely new questions to ask you from year to year. By all means, be an adversarial assessor, but at least please be clued in.
Disclosure: on the receiving end as a key person in technical audits since 2015.