Audit

Audit and Assurance

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Nexia BT has been offering audit-related services since its inception in 1992 and today ranks as a leading professional services firm employing over 20 professionals within its Audit and Assurance department. Nexia BT has now established itself as one of the five top audit companies in Malta and the largest mid-tier firm, among those servicing listed entities. This achievement has etched Nexia BT’s position in the marketplace.

The auditing arm is headed by Manuel Castagna, who has over twenty years’ experience, having worked in the industry both with audit firms in Malta and abroad. Manuel is the firm’s main audit partner, and is also its compliance officer, thereby being responsible for Nexia BT’s quality assurance and risk management. Brian Tonna, who is the firm’s managing partner, is also an audit partner within Nexia BT. They are assisted by director Darren Bugeja.

The firm’s portfolio comprises a wide range of audit clients varying from sole traders to family businesses, small and medium-sized companies and large groups of companies as well as listed and regulated companies. Current audit clients feature both locally as well as internationally based customers. The wide and diverse sectors in which they operate include wholesale and retail, manufacturing, service providers, construction and property, hospitality and catering, holding and investment companies, investment advisors, professional’s and Governmental authorities and entities. Meanwhile, Nexia BT’s international audit clients include those with an interest in investment funds together with specialized sectors such as aviation and ship and yacht registration in Malta. Nexia BT’s audit and assurance related services include:

Statutory audits

Required for regulatory, legal, or other purposes

Audit of liquidations

Carried out from the date when a company is put in dissolution until the date when the scheme of distribution is drawn up.

Assurance engagements and reviews

‘Lesser audits’ still providing a degree of assurance provider by the reviewer.

Due diligence reviews

Normally carried out for the purpose of confirming accounts provided to a buyer prior to a transfer of ownership.

Ad-hoc investigations

Consisting of specific investigations, rather than periodic reviews. In the case of an impromptu event, an entity can call a company to determine what is not working properly in the company and what can be improved.

Internal audits

Concerning the examination, monitoring, and analysis of activities related to a company's operation, including its structure, employee behavior, and information system. Such audits are designed to review the company’s activities in order to identify potential threats to the organization's health and profitability, as well as to make suggestions for mitigating the risk associated with those threats in order to minimize costs.

Certification of government / EU / UN projects

Involves the audits or reviews of project expenditure.

Consolidations

Concerns the preparation and/or audit of group consolidated accounts and financial statements.

Assistance in IFRS reporting

Provides for a set of accounting standards, which are developed and maintained by the IASB (International Accounting Standards Board) in order to ensure standards are applied on a global scale.

The audit-related services, normally provided on statutory audit assignments, are the following:

  • Auditing of the accounts, in accordance with International Standards on Auditing (ISA); and
  • Assistance in compilation/review of the full set of Financial Statements, in line with International Financial Reporting Standards (IFRS) as adopted by the EU or in compliance with GAPSME (and of Abridged Accounts, where required), in harmonization with the Companies Act;

All professionals within Nexia BT follow a risk-based audit approach, in all of the audit services which are carried out.

Audit and Assurance

Disclaimer: This marketing material has been issued by Nexia BT, having registered address at The Penthouse, Suite 2, Capital Business Centre, Entrance C, Triq taz-Zwejt, San Gwann SGN 3000, Malta. Any information within this brochure should be taken as a general guide only and should not be taken as advice and its application to specific situations will depend on the particular circumstances involved. Readers are recommended to seek professional advice and should not rely on information provided in this brochure as a substitute for such advice. While all reasonable attempts have been made to ensure that the information contained herein is accurate, Nexia BT accepts no responsibility for any errors or ommissions it may contain, whether caused by negligence or otherwise, or for any losses, however, caused, sustained by any person that relies upon it. BTI Management Limited is a registered as a Company Service Provider by the Malta Financial Services Authority. BT International Limited is authorised by the Malta Financial Services Authority to provide fiduciary services which do not include acting as a Trustee. Both companies form part of Nexia BT Group.

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