No Match Found
Malta Annual Review 2021
The COVID pandemic has presented enormous challenges for organisations worldwide and has also brought additional audit challenges for the profession. We have responded by standing close to our clients in these difficult times, and by focusing on applying rigour to estimates and judgements used in financial reporting. This year, the firm’s Audit Oversight and Acceptance Panel has been involved in supporting our audit partners on most of our ongoing audits to ensure that the firm applies consistent conclusions driven by deep discussions with clients around business continuity, around related disclosures in financial statements and in determining our audit opinions. Besides supporting our clients during such a delicate phase, we continue to focus on building trust in the transparency, objectivity and effectiveness of our audit work, to ensure that this remains key to our purpose of providing reliable financial reporting to stakeholders.
Our audit quality objectives are founded on having the right people, supported by effective methodologies, processes, and technology. These represent the capabilities that we believe are relevant to achieving and sustaining audit quality.
Our global methodology and consistent worldwide approach to audit maintains and drives the strong values that PwC is proud to uphold. As a brand, we continue to invest heavily in transforming and digitalising our audit approach to ensure that we deliver the highest standards of value to management and the board. The combination of efforts is enabling us to deliver a positive impact on our people, our clients, on the business community that we serve, and on society at large.
We aim to recruit, train, develop and retain the best and the brightest people who share PwC’s strong sense of responsibility for delivering high-quality services.
The commitment to our people remains that of providing a journey where each individual receives the best formation around integrity, empathy, accounting and auditing technical skills, interpersonal skills and industry and international experience. In the near future, we believe that a step-change in audit strategy and quality will be achieved through a partnership between people and technology. We continue to invest heavily in advanced digital skills and tools that are transforming the way people and tech work together. We are developing intelligent tools that will be able to spot patterns and trends in large data sets and detect anomalies and exceptions for further testing.
Therefore, developing our people through ongoing training and exposure to technology is an investment that we continue to push for. Having a skilled, motivated and proficient team of professionals is what our clients value and this remains a top priority.