Malta | companies and co-ops require audited accounts

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.

Links and downloads

  Read full FEE report
  Audit services in Malta for companies and co-operative societies

  Cooperative auditor
  Limited Liability Company auditor

2 thoughts on “Malta | companies and co-ops require audited accounts

  1. Are audited financial statements of cooperatives in Malta available to the public and where do I find these?

    • In Malta, co-operatives are legally bound to submit to the Co-operatives Board audited financial statements six months after the financial year end. In other words if the financial year end of a coop is the 31st December 2015 then the financial statements must reach the Co-operatives Board by the 30th June 2016.

      The Co-operatives Board should receive two sets of financial statements from each cooperative society:
      – Full set of audited accounts;
      – Abridged set of audited accounts.

      Only the abridged sets of audited financial statements of all co-operative societies registered in Malta are accessible to the public at a charge. In the event that any coop does not present its abridged financial statements, the Cooperatives Board is obliged to publish for public scrutiny the full set of audited accounts of the coop society.

      The coops accounts available for public scrutiny are currently not available online but may be viewed physically at a charge at the Co-operatives Board in Valletta. Copies of the available financial statements of the co-operative society may be ordered from the Cooperatives Board at a charge per page.

      Contact us if you require further clarification.


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