Malta Annual Review 2022

Simon Flynn Assurance Partner

“We maintain independence and a high level of quality in our audit work. Our policies, systems and processes exist for us to be able to uphold our commitment to our clients. We conduct key quality monitoring programmes and are subject to external reviews of our performance in this respect and we pride ourselves in fostering a culture of quality at every level of the firm, whilst measuring ourselves against very high benchmarks.”

Simon Flynn,Head of Assurance

The new normal

The past two years have definitely challenged all organisations and companies worldwide, both in terms of logistics and organisational structure. PwC Malta has always valued its people’s wellbeing and made every effort to enable and normalise working virtually.

Now that the COVID pandemic seems to be stabilising, we are reinstating a new normal, a mix of both face-to-face and virtual communication, both at our offices and our clients’ premises. This new approach has aided in regaining a sense of comfort and allowed us to work more closely, and sometimes more effectively, with our clients. This strengthened relationships and enhanced the value of our services, further reinforcing our purpose of instilling trust and of upholding the quality of our external audit product.

Talent and Tech

Investment over the past year was focussed on our most valued asset, our people, through our most valuable tool, technology.

In an effort to increase momentum and further build out practice through innovative ideas and implementation, we strive for more efficiency and automation to solve today’s complex audit challenges with an even sharper laser-focused approach to make sure quality would be paramount in what we do and how we do it. We pride ourselves in our diverse workforce as it, apart from diversity and inclusion, brings viewpoints and experiences that wouldn’t be available to someone from the local community.

To make sure that we consistently give our clients the highest quality service we are constantly on the lookout for talent. We are also dedicated to talent development, through upskilling and training, and retention, where we strive to see our people motivated to grow and pursue a career they wish to have.

Finally, we also have strengthened the structures and relations with the people who support the audit practice, including Risk & Quality, Human Capital and Marketing and Communications teams. It is through them that we are able to remain at the forefront of the profession in Malta.

The future of audit

The audit world is currently debating a number of topics that will impact the discipline’s future: transparency of audit, audit framework, and it’s applicability to companies of different sizes from a product and cost perspective.

As leaders in this field, we are also prepared to tackle other important matters, such as increasing the value of audit by providing insights about the risks companies face and how audit can evolve to serve a wider range of stakeholders.

We look forward to sustaining the growth we’ve experienced over the past year whilst keeping our unflinching commitment to quality, objectivity and independence in the way we act and in the services we provide each of our clients.

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Simon Flynn

Simon Flynn

Head of Assurance, PwC Malta

Tel: +356 2564 7292

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