Companies incorporated in Malta are lawfully required to appoint an auditor, in order to audit their financial statements which should be submitted to the Malta Business Registry. Companies are also required to submit a corporate tax return, which accordance to the Income Tax Management Act must be based on audited financials.
Other entities such as corporations, authorities, foundations, and funds are also required by law to conduct an audit of their financial statements. Apart from satisfying these regulatory requirements an audit process increases the financial reliability and integrity and may help in establishing monitoring procedures and improvements in operations efficiency.
With our experience, technically competent staff and our service approach we aim to provide a value-added audit service by giving recommendations based on our findings. In an increasingly competitive marketplace, continuous changes in regulations and standards, capital investment needs and increasing stakeholder expectations, the right guidance and the need to keep the proper accounting records are more important than ever.
The main service provided by the firm’s audit and assurance department is the statutory audit of the accounts and financial statements of companies. We also provide statutory audit services for trusts, foundations, Government authorities, local councils, entities registered as voluntary organisations, charities, clubs and other non-profit organisations that need to have their financials audited for compliance with licensing conditions or legal requirements. We also perform audits for companies in liquidation.
Audits can also be performed to satisfy non-statutory requirements, including internal reporting, interim reports, requests from bankers, and for audited financials of personal businesses to be used in case of mergers and acquisitions.
All audits are performed in accordance with International Standards on Auditing, and following the provisions of the Code of Ethics for Warrant Holders issued by the Accountancy Board.
Assurance and review engagements include reasonable and limited assurance engagements carried out under the principles and essential procedures of International Standard on Assurance Engagements (ISAE) and reviews of financial statements and other historical financial information in accordance to International Standard on Review Engagements (ISRE).
Assurance assignments also include certification of Government, EU and UN projects, ad-hoc investigations, and expert reports to certify the value of non-cash considerations for share capital contributions.
We provide assistance in the preparation of financial statements, in accordance with International Financial Reporting Standards (IFRS), General Accounting Principles for Small and Medium Enterprises (GAPSME), or other ad-hoc accounting frameworks. We also assist in ensuring proper disclosures required by the Companies Act, MFSA listing rules, and other licence-specific regulations.
We also provide assistance to groups of companies in relation to consolidations, including the preparation of consolidated financial statements.
“Accuracy, punctuality and work delivered to highest standards. As simple as that.”
“The perfect balance of dealing with a local firm who understands the culture and requirements of both the local and international markets in which we operate.”
“Our relationship with Nexia BT goes back 25 years since the Firm’s inception. Throughout these years, they have always delivered outstanding technical expertise. These factors, in addition to their business acumen and attention to detail, are some of the factors that make Nexia BT’s team stand out from the rest.”
“Since we started our professional relationship they have been pivotal in making a positive difference in the way we manage our affairs. Integrity, honestly, promptness, adaptability and technical excellence are key characteristics that make Nexia BT a trusted business partner.”
“The most impressive characteristic of the Nexia BT team is their team spirit and willingness to work together towards achieving the best results.”
“It is all about earning trust and respect – two words that have been present throughout our long history with Nexia BT.”
“Nexia BT is a business partner that brings to the table a combination of the right skill sets/capabilities and commercial empathy. In my experience, these are fundamental qualities that can make or break business operations more so when the trading environment is challenging.”
Our success here at Nexia BT is built on a strong foundation, which we credit to our team of experts. Throughout the years we have learnt that the best business relationships are those which are nurtured by our industry professionals together with the client. Explore our departments at Nexia BT here.More about our team