Auditing and Assurance

Auditing and Assurance 

The team of professional auditors at GCS Malta have vast experience in internal and external 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, from sole traders to family businesses and small and medium-sized companies.

Current audit clients feature both locally as well as internationally based customers. The broad 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 when a company is put in dissolution until the date when the distribution scheme is drawn up.

Assurance engagements and reviews

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

Due diligence reviews

‘Lesser audits’ still provide a degree of assurance provided by the reviewer.

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 to identify potential threats to the organisation’s health and profitability and make suggestions for mitigating the risk associated with those threats to minimise costs.

Certification of government / EU / UN projects

Concerns the audits or reviews of project expenditures


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

Assistance in IFRS reporting

Provides for a set of accounting standards developed and maintained by the IASB (International Accounting Standards Board) to ensure standards are applied globally.

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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