Accurit sector expertise
Accounting for Financial Services Firms in Malta
Fund and investment-firm reporting, prepared to the format the regulator and your auditor both expect.
The sector, plainly
Firms in this sector are read by more people than most. The same figures are wanted by a regulator, an auditor and often investors, each in a different form. The accounting is exacting rather than complicated: reporting dates that cannot move, fee calculations that have to reconcile to the statements, and accounts that will be read line by line. We prepare that information. Regulatory filings and compliance positions remain with your compliance function and advisers, and the audit is carried out by your appointed auditor.
The pressure points
Where financial services businesses struggle
Reporting dates that do not move
Valuation and reporting cycles are set externally, so records have to be ready on the date rather than shortly after it.
Fee calculations that must reconcile
Management and performance fees derive from the same figures that appear in the statements, and any difference has to be explainable.
Accounts read line by line
Statements here are examined in detail by people who will ask about individual balances, not skimmed for a total.
Our approach
How we work with the sector
Records kept to the reporting cycle
Bookkeeping paced to the valuation and reporting dates the firm actually works to, rather than to a standard month-end.A file your auditor can work from
Supporting schedules prepared so the appointed auditor’s questions are answered by the file rather than by a run of emails.One point of contact across the year
The same accountant through every cycle, so the reasoning behind a treatment is not re-established each time it is queried.
The outcome
Here’s what changes for financial services businesses.
Ready on the date
Records complete when the reporting date arrives, because the cycle was worked to rather than caught up with.
Figures that reconcile to each other
Fees, statements and underlying records agreeing, so a difference is never something to account for after the fact.
Less time spent in review
A well-supported file shortens the audit and reduces the number of questions that come back.
COMMON QUESTIONS
Financial Services questions
Do you prepare regulatory returns?
No. Regulatory filings and compliance positions remain with your compliance function and advisers. We prepare the accounting records and financial statements those filings draw on.
How do you work with our auditor?
The year-end file is prepared with supporting schedules so the appointed auditor’s questions are answered by the file. The audit itself is theirs.
Can you keep to our reporting dates?
Yes. Bookkeeping is paced to the valuation and reporting dates the firm actually works to, rather than a standard month-end.
Continue exploring
Related expertise
Services this sector relies on
Neighbouring sectors we work in
Ready to talk?
Let’s discuss financial services for your business
Book a free consultation with our team, or send us a message and we will get back to you.