Malta | companies and co-ops require audited accounts
The Federation of European Accountants has issued a report on audit exemption thresholds in Europe following the transposition of the Accounting Directive. While companies identified as “small undertakings” are no longer required to have a statutory audit, the paper published by the FEE indicates clearly which European countries are obliged to prepare statutory audits notwithstanding that they fall within the exemption thresholds of “small undertakings”.
To date statutory audits of financial statements in Malta are obligatory for all trading and non-trading limited liability companies registered with the Registry of Companies and cooperative societies registered with the Co-operatives Board whether they are “small undertakings” or not.
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