Read our insights, reports and more

The spread of the COVID-19 pandemic has brought new challenges for families across Malta, as a result of school closures, social distancing, and teleworking.

The economic implications and repercussions brought on by the COVID-19 global pandemic are deep and far-reaching, affecting the economy of virtually every nation on earth. The virus has caused severe disruptions across numerous sectors from both the demand side and the supply side. The analysis presented in this report is the result of a survey that was conducted between Tuesday 9th June and Friday 19th June, during which 491 valid responses were collected.

As a result of COVID-19 entities are generally expecting to experience significant declines in revenue and decreases in progress of delivery of performance obligations for long-term contracts. These declines in revenue may arise from decreases in volume and changes in variable consideration.

As the impact of a novel strain of coronavirus (COVID-19) continues to unfold around the world, those individuals responsible for preparing financial statements and approving them for issue need to be cognisant of not only what has happened and is happening at the reporting date and the time the financial statements are approved, but also what is likely to happen next.

The EU Single Accounting Directive 2013/34/EU which substituted the Fourth and Seventh Directives on both individual and consolidated financial statements, introduced a new set of financial reporting requirements.

The COVID-19 pandemic is having a tremendous impact on the world’s economy. Many businesses are struggling to stay afloat and doing whatever they can right now to rationalise costs and preserve any cash surpluses they have in order to bridge future cash flow needs. Around the world, governments are stepping in to try and limit the impact of the pandemic by providing financial support in numerous ways from direct cash payments through to the deferral of tax payments.

The economic implications and repercussions of the COVID-19 global pandemic are deep and far-reaching, affecting the economy of virtually every nation on earth.

The COVID-19 pandemic is upending the carefully calibrated logistics of global shipping and highlighting long-standing concerns.

As the impact of a novel strain of coronavirus (COVID-19) continues to unfold around the world, those individuals responsible for preparing financial statements and approving them for issue need to be cognisant of not only what has happened and is happening at the reporting date and the time the financial statements are approved, but also what is likely to happen next.

COVID-19: Financial Reporting and Disclosures, identifies key financial reporting areas that entities need to consider when determining the impact on their business, and on the results, financial position and disclosures in their financial statements.

Governments and tax authorities are scrambling to keep pace with the increasing digitisation of the global economy and public outcry over the levels of corporate tax being paid by large multinational enterprises.

The economic consequences of COVID-19 on future trading assumptions, and the direct impact on many companies, may place some companies under liquidity pressures. We understand these pressures and have compiled some tips for managing cash flow and mitigating any potential impact on your debt obligations.

Accounting implications of COVID-19

Since it was first identified in the city of Wuhan (China), the COVID-19 coronavirus has infected over 121,000 people, killing over 4,000 patients. While medical scientists work 24/7 to find a vaccine, Artificial Intelligence (AI) researchers have joined the global effort to defeat the virus.

78% of mid-market businesses globally are actively working on removing barriers to gender parity at senior levels according to the latest research from Grant Thornton’s International Business Report.

Representatives of the financial services sector, including the Institute of Financial Service Practitioners (IFSP) and the Malta Banking Association (MBA), have urged all stakeholders, regulatory bodies and practitioners to acknowledge the urgency of repairing Malta’s negative reputation, stating that everyone must play their part.