The Statutory Audit Directive adopted by the EU in 2006, recently implemented in local law, provides among other things that firms auditing public interest entities should publish an annual transparency report. This requirement reflects the role that firms such as ours play in the economy. It recognises that the trust placed in our profession needs to be reciprocated by the provision of information relevant to users of audited financial statements.
The Malta Firm Review 2008 incorporates the transparency report for 2008.
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