With an extensive background, our auditors in Malta have the necessary experience and skills to offer professional services to all types of companies, from small to large ones. You can rely on us for various accounting services, including audits in Malta.
| Quick Facts | |
|---|---|
| Audit legislation | Companies Act, Audit Oversight Arrangement, Accountancy Profession Law |
Professional auditors’ body | National Audit Office, Accountancy Board |
Requirement to appoint auditors for Maltese companies (YES/NO) | YES, independent auditors must be appointed |
| Audited financial statement filing required (YES/NO) | YES |
| Applicable accounting/audit standards | International Public Sector Accounting Standards, International Financial Reporting Standards (IFRS) |
| Documents to be verified by auditors | Financial statements, accounting records, bookkeeping records |
| Internal audit services (YES/NO) | YES |
| External audit services (YES/NO) | YES |
| Audit requirements for foreign enterprises | Foreign companies must respect the same audit regulations as local enterprises |
| Filing requirements for Maltese companies | 6 months from the end of the financial year |
| Audit exemption availability (YES/NO) | YES, for small businesses and startups |
| Audit services availability (YES/NO) | YES |
| Types of audits offered | Independent audits, statutory audits, compliance audits |
| Other accounting services provided | VAT registration and filings, payroll and HR, bookkeeping and accounting |
| Corporate tax rate | Standard rate is 35% |
| Accounting records for companies | The accounting records must contain: – profits and expenses; – assets and liabilities; – tax returns; – financial statements |
Forensic audit services available (YES/NO) | Yes, we offer forensic audits in Malta |
Annual general meeting of the shareholders required (YES/NO) | The shareholders must convene annually in order to validate audited financial statements before being filed |
| Special regulations for SMEs (YES/NO) | SMEs must comply with the General Accounting Principles for Smaller Entities (GAPSE) in Malta |
| Audited accounts filing requirements with the Maltese Trade Register | Audited accounts and statements must be filed 42 days from their submission with the tax authorities |
| Audit requirements for sole traders (YES/NO) | Sole traders are not subject to audits in Malta |
| Audit requirements for self-employed people/freelancers (YES/NO) | Self-employed people and freelancers are exempt from audits in Malta |
| Special audit services for large companies (YES/NO) | Yes, our specialists can offer dedicated audit services for large companies |
| Financial statement certification services in Malta (YES/NO) | Our Maltese accountants are accredited to provide financial statement certification which is required for audit purposes |
| Service available for foreign companies in Malta (YES/NO) | Yes, our services are also available for foreign businesses operating in Malta |
| Operational audits available (YES/NO) | We also offer operational audits in Malta |
| Tax advisory services for companies (YES/NO) | Yes, we provide tax advisory solutions |
| Accounting and audit services in Malta provided by accredited specialists (YES/NO) | Yes, we work with CPA accountants and accredited auditors in Malta |
| Service available in Valletta (YES/NO) | Yes, our services are available in the capital city of Malta |
| Service available in other cities (YES/NO) | Our audit solutions are also available in other cities, among which Birkirkara |
Table of Contents
What types of audits does your accounting firm in Malta offer?
Our auditors in Malta perform:
- external audits: we can provide financial, statutory, and tax audits, in accordance with the local legislation;
- internal audits: we also carry out operational and compliance audits on request, as they are not mandatory;
- specialized audits: we can also undertake forensic or other types of specialized audits for your company in Malta.
Where can I find you?
Company owners with activities in more than one city should note that our audit services are available in various cities in Malta, among which Valetta and Birkirkara. In order to meet the needs and requests of our clients, we are present in these cities with various audit and accounting services that cover all the requirements imposed by the Maltese legislation.
What are the types of companies you can cover from an audit point of view?
Our audit services in Malta are available for:
- medium-sized companies, provided they are subject to mandatory audits;
- holding companies;
- group companies.
Do you also provide special audit services to foreign companies operating in Malta?
Yes, we do. If such companies must submit consolidated accounts or need to comply with specific accounting standards, they can rely on our Maltese auditors.
Our audit services in Malta are also presented in the scheme below:
Are all companies in Malta required to have their accounts audited?
No, there are also companies that are exempt from this requirement. However, the exception applies to private companies that meet at least 2 of the following 3 conditions:
- the balance sheet does not exceed EUR 46 587,47;
- the aggregate turnover of goods does not surpass EUR 93 587,47;
- the average number of employees is 2 from one accounting period to another (you can also rely on us if you need payroll services in Malta).
New companies can also be exempt from having their accounts audited in the first 2 years of activity. Our auditors in Malta can review your company’s documents and advise on the exemption.
What are the accounting standards applicable in Malta?
The International Financial Reporting Standards (IFRS) and the Generally Accepted Accounting Principles for Small and Medium‑sized Entities (GAPSME). Small and medium-sized companies can choose the standards they want to abide by.
What are the documents verified by your Maltese auditors?
The accounting records of a Maltese company, which must contain:
- all the sums of money entering and exiting the company during a financial year;
- all the expenses receipts of a company;
- the sheets with detailed information on the assets and liabilities of the business;
- statements of stocks or other goods belonging to a company at the end of each financial year or period, as established by its management.
It is the auditors’ duty to verify the integrity of these accounts.
Even if accounting and audit services might seem complex for large companies in Malta, our audit company in Malta is at your disposal if you decide on such services. You can also watch our video on the audit services we can provide you with:
What are the statutory deadlines for Maltese companies that need to have their accounts audited?
Private companies must have their accounts audited within 10 months from the end of the financial year. Public companies must have their accounts audited within 7 months of the end of the fiscal year. The accounts must then be filed with the Trade Register within 42 days from approval.
Are your auditors accredited?
Yes, they are. When it comes to the certifications of our Maltese auditors, the Accountancy Board is in charge of issuing their practice certificate. In order to perform audits, accountants must register their accounting firms in Malta with the Accountancy Board. However, they must comply with the requirements of the National Audit Office (NAO) when performing their duties.
In case you need an accountant in Malta, you can rely on our team of experts. If you need accounting services in another country, for example in Cyprus, we can put you in contact with our partners – Opencompanycyprus.com.
Furthermore, in case you need these services in another EU country, such as Finland, we recommend our reliable partners who have a team of dedicated accountants in Finland.
For accounting and auditing services, please contact our accountant in Malta.