European Union: 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.

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.

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.