On Mar. 1, MLT GVT issued amended accounting principles for SMEs.
MLT GVT published the Accountancy profession (general accounting principles for small and medium-sized entities) (amendment) regulations, 2024.
To be read with the Accountancy profession (general accounting principles for small and medium-sized entities) regulations of Aug. 2015 (principal regulations).
Amendments
Regulations 3, 4, 5 and schedule of the principal regulations have been amended.
The definition of Accountancy profession act has been updated under regulation 3.
Date of financial reporting periods changed to Jan. 1, 2015 in regulation 4.
Amendments in regulation 5 relate to the balance sheet limits for small entities.
Effectiveness
Regs in force within 2 months from the gazette publication date, by May 1, 2024.
Regulators
MLT GVT
Entity Types
Auditor; Corp
Reference
LN 41/2024, OG 21,200, 3/1/2024; OG S.L. 281.5, 8/28/2015
