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AUDIT & ASSURANCE

Audit Services – External & Internal Audit

One of the Firm’s core activities relates to auditing, in particular external auditing.  An audit enables a
client to rest assured that its financial reporting system is reliable. Financial statements are the main source of accountability of management performance by the company’s shareholders. As management is reponsible for the accounting function and ultimately the preparation of financial statements, the shareholders then have to rely on external audit verification in order to obtain reasonable assurance that the financial statements are free from material misstatements and can therefore be relied upon.  Apart from being a statutory requirement, an audit also assists clients in ensuring that proper controls are in place and assists the procedure to obtain external finance amongst others. Our audit team is made of highly qualified and experienced individuals, which guarantees a professional service, in a timely manner suiting all client requirements. In addition to external audit, our team can also assist in internal audit assignments.

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Consolidation & Reporting

Apart from undertaking external audits of consolidated financial statements which are normally required from groups of companies, our services further extend to the provision of assistance in the determination of whether consolidated financial statements are required and also towards the preparation of consolidated financial statements which normally include a consolidated balance sheet, consolidated profit and loss account, and explanatory notes that form an integral part thereof.

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Financial Due Diligence Reporting

Our team is able to assist in the primary objective of financial due diligence which is to confirm the reliability of the information which is to be used in making investment decisions. Any changes on primary information brought about by a financial due diligence exercise, may have a significant impact on the decision and/or pricing of a transaction, whether through a merger or acquisition. Therefore, using investigative techniques to assess key issues, our procedures are essential in any business transaction as this enables the client to take an informed decision.  Through our work, we will ensure that all the necessary information is provided to the client which shall ultimtely assist in the understanding of all aspects of the business transaction whilst also providing advice on key price negotiation considerations.

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Feasibility Studies and Cash Flow Reporting

A proposed project should always be supported by adequate information to ensure its success.  Even though the outcome of a feasibility study may show successful results, the client must ensure that it has sufficient cash resources to fund such projects.  Therefore, feasibility studies and cash flow reporting go hand in hand.  Our team will ensure that all possible outcomes are duly investigated to guarantee that the right decision is taken.  Furthermore, our team will assist to ensure that adequate funding is available to carry on with the project.

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Business & Other Valuations

Valuations may be required in various situations and the method applied depends on the situation at hand.  Our team will provide an analysis of all financial aspects surrounding the valuation to assist management in arriving at the best conclusion possible. Our services will assist in compiling objective information about the business concerned in order to help vendors make sound decisions and to also facilitate the due diligence required on potential purchasers in order to ascertain their financial soundness.

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Bank & Other Finance Applications

Cash is the lifeblood of any business.  Our team will assist a client to ensure that the necessary funds are available as required.  Our services cover the whole range of banking and financing applications, from the simple application to open a regular bank account to applying for business loans to fund projects, amongst others.

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Our Professionals
David Busuttil

Partner & Director

Lorraine Muscat

Partner

Donatella Bondin

External Consultant (Audit)