Audit & Assurance

The Malta Companies Act obliges both private and public companies to file a copy of their audited financial statements with the Registrar of Companies at the Malta Financial Services Authority. Financial statements must be audited by a qualified warrant holder.

An auditor’s responsibility is to express an opinion on the financial statements based on the result of the audit. An audit is conducted in accordance with International Standards on Auditing. Those standards require that an auditor complies with ethical requirements and plans and performs the audit to obtain reasonable assurance whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements.  The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the preparation of financial statements that gives a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control of the company.  An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors, as well as evaluating the overall presentation of the financial statements.

We are driven to add value to statutory audits. An audit presents an opportunity to analyze the financial performance and position of a company, to do this effectively an understanding of a company’s operations is necessary. As part of our audit work we assess the financial results and relevant business and operational risks to determine if the going concern assumption is reasonable.  The results of this assessment provides information that will allow us to highlight key issues/ risks in the financial statements and make recommendations to management.

Additionally, we evaluate internal controls, assess their effectiveness and make recommendations.

  • Internal audits
  • Evaluation, design and implementation of processes and procedures
  • Evaluation design and implementation of internal controls
  • Other non-statutory audits

Contact us for more information or a quote at [email protected] or call us on +356 21 345 009/010, +356 9945 8641. We will happily guide you through our services and also advise you on the solutions that would best suite your needs.