! Audit Oversight in Malta Presented by MARCEL P. COPPINI - - PowerPoint PPT Presentation

Accountancy Board

Quality Assurance

Accountancy Board

Quality Assurance

!Audit Oversight in Malta

Presented by MARCEL P. COPPINI marcel.coppini@gov.mt !

1 12th FCM Annual Conference - Tirana, Albania - 4 November 2013

Accountancy Board

Quality Assurance

Background

• Accountancy Board – set up in 1979 – to regulate

accountants and auditors;

• Smallest jurisdiction within the EU – (population of

400k - 250 audit practitioners – some 1,700 CPAs

• Public Oversight was set up in June 2006 –

profession moved away from self regulation

• Transposition of EU Statutory Audit Directive into
• ur legislation between 2006/ 2007
• First visits started in June 2007

2 12th FCM Annual Conference - Tirana, Albania - 4 November 2013

Accountancy Board

Quality Assurance

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Accountancy Board

Quality Assurance

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• Close working relationships with the Chartered

Accountants Regulatory Board (CARB) of Ireland, ICAEW, and the ACCA;

• Keeping tab of all warrant holders – Annual

Returns;

• Setting up a robust data base;
• Other than establishing Audit Policies and

regulation and its responsibility towards QA – the Oversight Board must ensure the setting up of a robust enforcement mechanism.

4 12th FCM Annual Conference - Tirana, Albania - 4 November 2013

Accountancy Board

Quality Assurance

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• European Group of Audit Oversight Board (EGAOB)
• European Audit Inspection Group (EAIG)
• Audit Regulatory Committee
• International Forum of Independent Audit Regulators

!

5 12th FCM Annual Conference - Tirana, Albania - 4 November 2013

Accountancy Board

Quality Assurance

Quality Assurance Unit Malta

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6 12th FCM Annual Conference - Tirana, Albania - 4 November 2013