BDO Malta has published its Transparency Report for the financial year ended 31 December 2024, reaffirming its position as Malta’s largest mid-tier professional services firm by fee revenue.
The firm’s fifth largest position in the local market mirrors the BDO global ranking and confirms its leading position in the middle market for audit, tax, business services and advisory.
The report outlines a year shaped by heightened regulatory expectations, a tight labour market, technological advancements driven by AI opportunities and risks, and increasing demand for reliable advisory, audit and assurance services. With a 10.1% growth in fee income, amounting to Eur11.52 million, BDO Malta continues to demonstrate steady progress, underpinned by client trust, team expertise, and strategic investment in digital innovation.
“Our focus remains clear - to support clients in meeting compliance and operational demands while helping them build resilience to succeed in the long term,” says Mark Attard, CEO and Partner at BDO Malta. “This year’s results reflect the confidence organisations place in our firm. Our continued investment in people, technology and quality processes are bearing the fruit of success.”
Among the notable developments of the year was BDO Malta’s adoption of a state-of-the-art digital internal audit tool, designed to automate repetitive tasks thus enabling internal auditors to concentrate on high-risk areas and deliver deeper insights. The tool also provides an enhanced collaborative digital environment where engagement and client teams can perform internal audit work in a highly efficient manner. This investment allows BDO’s internal auditors to focus their time on key risk areas affecting the client’s business model, thereby shifting gears from a compliance-driven internal audit to a strategic, value driven approach.
To further enhance its capabilities, BDO Malta appointed Ruban Thangaraja as Director of Internal Audit in 2024. Ruban brings significant experience from previous Big Four leadership roles. He is now leading the firm’s internal audit services.
In a year of increased industry engagement activity for BDO Malta, the firm hosted its inaugural Internal Audit Forum in late 2024 - a tailer-made event dedicated for professionals working in internal audit, governance, risk, and assurance functions. The forum served as a platform for dialogue with regulators, operators and industry leaders, addressing the evolving role of internal audit in safeguarding organisational integrity and resilience.
In parallel, the firm continued to strengthen its commitment to quality. Sam Spiridinov, BDO Malta’s Head of Audit and Audit Partner, was selected by BDO Global Audit Quality leadership to form part of the global team responsible for conducting audit quality reviews across BDO member firms. This handpicked appointment reflects the quality culture embedded within the Malta firm and its alignment with international standards and BDO expectations.
The Report also highlights internal initiatives to recognise excellence in audit quality, including the firm’s Audit Quality Award, now in its second year. These efforts are part of a broader focus on performance, accountability, and a shared commitment to delivering consistent, high-quality work across all engagements.
Other areas of increased activity throughout 2024 focused on significant regulatory expectations, including preparation for the Digital Operations Resilience Act (DORA), the Markets in Crypto Assets (MiCA) Regulation, together with developments related to sustainability and tax matters.
BDO Malta is a Member Firm of the global leading mid-tier professional services network. BDO is present in more than 160 countries and 1,700 offices globally and remains fully committed to supporting organisations across sectors with practical, value-driven solutions.
This article first appeared on Times of Malta here
