Europe: Accounting and Audit

Grant Thornton Malta operates as an independent member firm within the global Grant Thornton network, providing assurance, tax, and advisory services to clients. Each member firm functions as a separate legal entity, delivering services independently without creating partnership obligations or liabilities between firms. The brand operates under a coordinated international framework while maintaining distinct operational and legal boundaries.

IFRS 18 applies for annual reporting periods beginning on or after 1 January 2027 and will replace IAS 1. Although it does not change recognition and measurement principles, it will significantly affect how financial performance is presented and disclosed.

Presidential Decision No. 11066 introduces significant changes to the threshold values that determine which companies must undergo independent audits in Turkey. This regulatory update has important implications for corporate compliance and financial reporting requirements across various business sectors.

False accounting allegations arise when financial records are deliberately altered or used to mislead, but not every accounting error constitutes criminal conduct. Understanding the distinction between mistakes and criminal false accounting requires examining who was responsible, what they knew, and whether there was dishonesty with intent to gain or cause loss.

Forensic accountants play a crucial role in uncovering financial irregularities, whether in business disputes, litigation, or regulatory matters.

Many family law matters become contentious and emotional. However, whether in a community property state or equitable distribution state, each marital dissolution case has an end in sight, i.e., an equal division or fair distribution of assets, debts and income.

The Central Bank of Ireland has launched Consultation Paper 171, proposing significant refinements to its domestic actuarial regime and guidance for insurance and reinsurance undertakings. These changes affect the Head of Actuarial Function role, reserving policies, peer review requirements, and various life and non-life specific elements, with the consultation open for submissions until October 2026.

The Central Bank of Ireland has published a consultation on proposed refinements to the domestic actuarial regime under Solvency II, while the European Commission adopted a communication addressing competitiveness challenges in the EU banking sector. EIOPA completed its Solvency II review mandate by publishing the final set of guidelines and technical standards for the amended framework.

Given your limited time and the need to allocate it effectively in almost any business, you will need to assign a portion of the accounting workload to an outside expert team.

As economic uncertainty and rising costs pressure businesses in 2026, many companies are turning to fractional CFO services as a strategic solution to improve profitability without the expense of a full-time executive. This analysis explores six specific ways these services enhance EBITDA, from optimizing pricing strategies and managing cash flow to reducing operational waste and preparing for financing events.

The Commercial Payments Bill represents the most significant legislative reform to tackle late payments in over 25 years, proposing sweeping changes to payment practices in commercial transactions. With particular impact on the construction industry, the Bill introduces maximum payment terms, mandates interest charges on late payments, and controversially proposes a complete ban on retention clauses. What alternatives will replace traditional retention arrangements, and how will businesses adapt to these fu

Effective bookkeeping extends far beyond compliance and record-keeping—it provides the financial visibility, accuracy and insight businesses need to make informed decisions, manage risk and plan for growth. By asking critical questions about financial reporting timeliness, cash flow visibility, reconciliation accuracy, VAT management and data reliability, organisations can identify gaps in their bookkeeping processes before they impact business performance.