The Companies Act requires that all companies keep proper accounting records of:
- all details of receipts and expenditure
- all sales and purchases of goods by the company
- the assets and liabilities of the company
The Commercial Code states that all traders must:
- maintain appropriate trade books which shall be numbered and kept by order of date
- draw up an annual inventory book together with a description and valuation of assets and liabilities, whatever may be their nature and origin
- keep letters, invoices and telegrams received and forwarded
- preserve trade books and other accounting documents for 5 years
Accountancy and auditing professions in Malta are regulated by the Accountancy Board via a number of accountancy profession Acts, Regulations and Directives, including: