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As we entered 2023, three of the threats uppermost in the minds of business leaders in the mid-market were inflation, cyber attack, and economic slowdown. According to data from the International Business Report (IBR), Grant Thornton’s global survey of mid-market companies, more than half (51%) of business leaders see inflation as an ongoing threat, while 47% cited cyber attack and 50% referenced economic slowdown as a threat at the beginning of this year. However, as spring has emerged so has turbulence in parts of the banking sector. Though not directly reported as a concern as the year commenced, turmoil in the banking sector is a direct result of a high inflation environment and its necessary monetary response, which have added to the climate of uncertainty for many businesses.

Mid-market firms using international supply chains have faced significant disruption and headwinds as a consequence of the war in Ukraine, the long tail of COVID disruption, and wider geo-political tensions. However, despite ongoing economic uncertainty, many international business leaders continue to see international trade, and particularly exports, as a key driver for growth.

Sustainability has gained traction over recent years, especially in terms of environmental protection. However, the sustainability framework (‘ESG Framework’) has another two pillars that are equally important: the social and governance aspects. The ESG Framework is governed by various laws and regulations across the globe, and this includes the enactment of the Corporate Sustainability Reporting Directive (‘CSRD’) by the European Commission.

Following the Research findings about 'Board of Director Gender Diversity in Equity-Listed and Large Public Sector Entities: A Maltese Viewpoint', listed in this article are the Conclusions reached and what Recommendations could be given to Maltese public authorities.

Whether you are an aspiring payroll professional or a small business owner looking to manage payroll responsibilities more effectively, we shall be conducting a workshop named 'Basics in Payroll' through our Advance Training, providing a comprehensive introduction to the essential concepts and skills needed to navigate the world of payroll.

Grant Thornton Malta believes in a sustainable future. As one of its CSR initiatives, it opted to donate 50 of its decommissioned laptops to the Malta Trust Foundation in support of its ‘Your Device Your Right’ initiative.

The purpose of the study is to raise awareness of the need to improve board gender diversity (BGD) in Maltese equity-listed entities (MLEs) and large public sector entities.

The Malta Property Landscape - April 2023 Edition

We are proud to announce our accreditation as the first approved External Reviewer for Green Bonds in Malta by the Malta Stock Exchange (MSE). Through this accreditation we are committing to raising sustainable investment and promoting environmental responsibility in Malta.

The International Sustainability Standards Board (ISSB) recently met in Montreal and made some final decisions on the technical content of the first two sustainability Standards it plans to issue. In considering this material they also made a crucial decision that these two Standards, which are due to be released in June 2023, will become effective for periods commencing on or after 1 January 2024.

The Financial Intelligence Analysis Unit ('FIAU') is responsible for gathering and analysing data pertaining to financial crime such as money laundering and financing of terrorism. The aim of such a process is for the FIAU to have a better understanding of the financial crime risk in Malta as well as to aid in the prosecution of money launderers and financers of terrorism.

UTIX Malta Limited has successfully registered its whitepaper with the Malta Financial Services Authority (MFSA).

Women in Business 2023: Now is the time to push for parity

On 1 March 2023, the Financial Intelligence Analysis Unit (FIAU) made available the Risk Evaluation Questionnaire (REQ) through CASPAR for all subject persons. As a result, subject persons must ensure that they are registered to the portal and that the Subject Person Profile is kept updated.

The Malta Gaming Authority (MGA) has published a new policy regarding operators using virtual assets. The policy took effect on January 30, 2023 and replaces the MGA’s Guidance on the use of Innovative Technology Arrangements. The new policy outlines the MGA’s position on Distributed Ledger Technology (DLT) applications and streamlines previous requirements. Operators must obtain MGA approval before using or accepting DLT assets on their platform. Virtual Tokens and Virtual Financial Assets may be used as payment on a case-by-case basis. Operators may use their own wallets for VFA deposits and use smart contracts on their platforms. Operators are expected to comply with Anti-Money Laundering and Counter Financing of Terrorism legislation and carry out necessary risk assessments. Grant Thornton's team can assist operators with classification of DLT assets, communication with the MGA, technical support, AML and CFT compliance, and other regulatory support.

For the 15th year in a row, FinanceMalta will be hosting their Annual Conference on 1 December 2022.