Auditing and Assurance

Auditing and Assurance 

The team of professional auditors at GCS Malta have vast experience in both external and internal auditing to guarantee all clients that their financial statements will be examined to adhere to the Maltese legislation.

The firm’s portfolio comprises a wide range of audit clients varying from sole traders to family businesses, small and medium-sized companies.

Current audit clients feature both locally as well as internationally based customers. The wide and diverse sectors in which they operate include wholesale and retail, manufacturing, service providers, construction and property, hospitality and catering, holding and investment companies, investment advisors and professionals.

GCS Malta’s audit and assurance related services include

Statutory audits

Required for regulatory, legal, or other purposes

Audit of liquidations

Carried out from the date when a company is put in dissolution until the date when the scheme of distribution is drawn up.

Assurance engagements and reviews

‘Lesser audits’ still providing a degree of assurance provider by the reviewer.

Due diligence reviews

Normally carried out for the purpose of confirming accounts provided to a buyer prior to a transfer of ownership.

Ad-hoc investigations

Consisting of specific investigations, rather than periodic reviews. In the case of an impromptu event, an entity can call a company to determine what is not working properly in the company and what can be improved.

Internal audits

Concerning the examination, monitoring and analysis of activities related to a company’s operation, including its structure, employee behaviour and information system.  Such audits are designed to review the company’s activities in order to identify potential threats to the organisation’s health and profitability, as well as to make suggestions for mitigating the risk associated with those threats in order to minimise costs.

Certification of government / EU / UN projects

Involves the audits or reviews of project expenditure.


Concerns the preparation and/or audit of group consolidated accounts and financial statements.

Assistance in IFRS reporting

Provides for a set of accounting standards, which are developed and maintained by the IASB (International Accounting Standards Board) in order to ensure standards are applied on a global scale.

The audit-related services, normally provided on statutory audit assignments, are the following:

  • Auditing of the accounts, in accordance with International Standards on Auditing (ISA); and
  • Assistance in compilation / review of the full set of Financial Statements, in line with International Financial Reporting Standards (IFRS) as adopted by the EU or in compliance with GAPSE (and of Abridged Accounts, where required), in harmonisation with the Companies Act.

All professionals within GCS Malta follow a risk-based audit approach, in all audit services which are carried out.

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