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Confidence shown in MGI Malta by the National Audit Office (Malta)

MGI Malta has once again been awarded the statutory audits of twelve of the largest Local Councils in Malta by the National Audit Office. According to the legislation governing local councils, the National Audit Office is the organization empowered by the Constitution of Malta entrusted with the auditing of the financial reports of the Local Councils. The requirements of the Local Councils Act 1993 make the Local Councils responsible and accountable for the public funds entrusted to them by Central Government.

In a recent gathering organized by the Auditor General, Mr. Joseph Galea, there were present a sizeable number of newly elected Mayors and Councillors as well as the Executive Secretaries heading those Local Councils. There were also newly appointed auditors hailing from private organizations, including MGI Malta, that were entrusted by the National Audit Office with the auditing of the financial reports of the local councils on behalf of the same National Audit Office.

Mr. Galea welcomed all present with an introductory speech explaining the roles of the various officers present. “The work of Mayors, secretaries and members of the Council, even though at different levels, is not easy” Mr. Galea explained. Whilst it is with the highest regard that these officers’ contribution is looked at, they still need to understand that there are laws and regulations that need to be observed so as to safeguard the public funds that originate from the taxpayers. He emphasized that Mayors and Executive Secretaries could be subjected to the scrutiny of the Public Accounts Committee, which is a Select Committee of the House of Representatives, if in his statutory annual report material shortcomings are reported.

This is where the National Audit Office with its team of entrusted audit firms in public practice come in. Their role is to report on the truth and fairness of the financial reports and their compliance with laws and regulations. They also serve as whistle-blowers where it comes to their notice that certain practices are off-track.

MGI Malta is now in its eleventh year working closely with the National Audit Office. “It has been a continuous challenge for MGI to meet the highest demands of the Audit Office which is a transformed organization of the highest caliber. That said, we are staunch believers in success and in quality, and therefore it is always a pleasure and an inspiration doing business with the team at the National Audit Office” - Mr. Franco Azzopardi of MGI reported