Audit Services
Independent assurance that strengthens confidence in your financial reporting. A statutory audit is a legal requirement, but it also gives shareholders, lenders, regulators, and management confidence that the financial statements have been prepared on a reliable basis. Our work combines technical rigour, professional scepticism, and clear communication throughout the process.
Statutory Assurance & Reporting
We conduct statutory audits in accordance with Maltese legislation and International Standards on Auditing, while also supporting the preparation and presentation of annual financial statements under the relevant reporting framework. The work is structured to assess compliance, test key risk areas, and issue a clear independent opinion on the financial statements.
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Statutory audit engagements
We undertake statutory audit engagements for businesses across a range of industries and organisational structures, tailoring our work to the nature, scale, and reporting environment of each entity while maintaining a consistent standard of audit quality.
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Audit of consolidated financial statements
We also perform audits of consolidated financial statements, addressing group reporting considerations, consolidation processes, and the presentation of financial information at group level in line with the applicable framework and audit requirements.
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Review engagements
Where a full statutory audit is not required, we carry out review engagements that provide limited assurance on financial statements, giving stakeholders an independent level of comfort through procedures that are proportionate to the scope of the engagement.
Enhancing Value Beyond Compliance
While statutory audits are mandatory, they also provide a valuable opportunity to enhance the reliability and transparency of financial information and to strengthen the processes that support sound financial reporting. A well-executed audit helps reinforce discipline around records, disclosures, and financial oversight, creating a stronger basis for reporting quality.
They can also help identify areas of potential misstatement, inefficiency, or control weakness, while supporting confidence among lenders, investors, regulators, and other stakeholders who rely on clear and dependable financial information. In that sense, the audit process contributes not only to compliance, but also to stronger governance and better-informed decision-making.
Our Approach
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Our audit work follows a risk-based methodology aligned with International Standards on Auditing, allowing us to focus attention on the areas of greatest significance while maintaining a disciplined and proportionate approach throughout the engagement.
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We place strong emphasis on robust planning and disciplined execution so that the audit is carried out efficiently without compromising quality, ensuring that key risks, reporting issues, and compliance matters are addressed in a timely and structured way.
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Clear, timely, and structured communication with management is central to our approach, helping expectations remain aligned, information requests stay manageable, and significant matters be discussed openly as the engagement progresses.
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We apply materiality thresholds with care and maintain professional scepticism throughout the engagement, so that our work remains focused, evidence-based, and responsive to matters that may affect the integrity of the financial statements.
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All of our work is performed in full compliance with the applicable regulatory and professional standards in Malta, ensuring that each engagement reflects the level of independence, technical quality, and professional conduct expected in statutory audit work.
Audit Services FAQs
When is a statutory audit required for a Maltese company?
A statutory audit is required for companies in Malta that exceed certain size thresholds under Maltese law or operate in regulated sectors. It provides independent assurance that your financial statements fairly represent your company’s position and performance.
Are there circumstances where a company is exempt from audit requirements?
Yes. Under Malta’s Audit Exemption Rules, certain small companies may not require a statutory audit if they meet specific criteria, including size tests under the Companies Act or eligibility for a review report instead of a full audit.
What is the difference between a statutory audit and a review engagement?
A statutory audit involves a full independent examination of financial statements. A review engagement, such as an ISRE 2400 engagement, provides limited assurance through agreed procedures and is suitable for companies eligible for audit exemption.
What audit and assurance services do you provide?
We provide statutory audits and ISRE 2400 (Agreed-upon Procedures) engagements tailored to your reporting needs, ensuring compliance with Maltese regulations and professional standards.
How does a statutory audit benefit my business beyond compliance?
In addition to fulfilling legal obligations, a well-executed audit enhances confidence with investors and lenders, supports stronger internal controls, and provides clarity on financial reporting quality.
What is an EXO audit, and what is its outcome?
An EXO audit is a systems-based audit required for businesses operating Point of Sale (POS) or similar systems in order to obtain an EXO number from the Maltese VAT authorities. The audit involves testing the system’s controls, transaction processing, and compliance with fiscal and VAT requirements. The outcome is an independent certification report submitted to the authorities, supporting the issuance of an EXO number, which must be reflected on fiscal receipts.