Audit and Assurance

Audit and Assurance

The Malta Companies Act obliges both private and public companies to file a copy of their annual, audited financial statements with the Registrar of Companies at the Malta Financial Services Authority. Financial statements must be audited by a qualified, warranted auditor or by an audit firm holding the appropriate practicing warrant and whose partners must also be members of an approved accountancy body. Financial and Statutory Audits must be prepared in accordance with International Standards on Auditing.

Our independent Audit and Assurance firm, Capstone Assurance Ltd, can provide full statutory audit services to both private as well as publicly listed Maltese companies. As an integral part of our audit we will report on any weaknesses that we may encounter particularly in the area of internal controls and the prevention and detection of fraud. If certain criteria are met, a company may file an abridged version of its accounts as opposed to a full set. This exemption is not available for public companies. The audited financial statements must include a report made out to the shareholders of the company by the independent auditor giving his opinion on whether the Financial Statements are true and fair in all material respects.

Non-statutory assurance services are also provided to both Maltese and International Companies. Capstone Assurance Ltd enhances the reliability of information prepared by clients for the use of a wide range of stakeholders who use such information to take certain decisions related to investment, employment and various other factors depending on the nature of the stakeholder.