Advantages of Audit
The annual auditing of financial statements is a statutory requirement in Malta; nevertheless it produces a series of notable advantages:
- An audit helps to identify weaknesses in the accounting systems and enables us to provide suggestions for improvements
- An audit assures directors, who are not involved in the accounting functions on a day-to-day basis, that the business is running in accordance with the information they are receiving. An audit also helps reduce the risk of fraud and poor accounting.
- An audit facilitates the provision of advice that can have real financial benefits for a business, including how the business is running, what margins can be expected, and how these can be achieved.
- Advice can cover anything from the tightening of internal controls, to tax planning or reducing the risk of fraud.
- An audit will enhance the credibility and reliability of the figures being submitted to prospective investors. If an owner is planning on attracting investment or selling shares in the next three years, carrying out regular audits is highly beneficial.
KSi Malta provides audit services to companies, organisations, financial services licensed entities and other bodies. Our audit service aims at providing recommendations, improving controls, enhancing business performance and ensuring cost effective results.
Our audit and assurance services include:
- Assurance and engagement reviews
- Statutory Audits
- Audit of liquidations and other liquidation services
- Expert reports
- Ad-hoc advisory
- Assistance in IFRS and GAPSME reporting