Press Release By The Accountancy Board

Finance Malta is a non-profit public-private initiative set up to promote Malta as an international financial centre, both within, as well as outside Malta. It brings together, and harnesses, the resources of the industry and government, to ensure Malta maintains a modern and effective legal, regulatory, and fiscal framework in which the financial services sector can continue to grow and prosper. The Board of Governors, together with the founding associations: The Malta Funds Asset Servicing Association, the Malta Bankers Association, the Malta Insurance Association, the Association of Insurance Brokers, the Malta Insurance Managers Association, the Institute of Financial Services Practitioners; its members and staff are all committed to promote Malta as an innovative international.

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Malta Accounting and Audit

The Accountancy Board makes reference to an allegation made in an article that was published in The Malta Independent on Sunday of 14th May, 2017 with the title "Major global bank no longer accepting declarations issued by Maltese auditing firms". The allegation was that Commerzbank AG is no longer accepting declarations issued by Maltese audit firms.

The Accountancy Board has carried out its investigations into the matter and is fully satisfied that the case in question is only related to a specific situation involving a particular type of company structure. With regards to the Malta financial services, it is not specifically related to the jurisdiction of Malta or to Maltese auditors.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Press Release By The Accountancy Board

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Accounting and Audit

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Malta