Press Release By The Accountancy Board

The Accountancy Board makes reference to an allegation made in an article that was published in The Malta Independent on Sunday of 14th May, 2017 with the title "Major global bank no longer accepting declarations issued by Maltese auditing firms". The allegation was that Commerzbank AG is no longer accepting declarations issued by Maltese audit firms.

The Accountancy Board has carried out its investigations into the matter and is fully satisfied that the case in question is only related to a specific situation involving a particular type of company structure. With regards to the Malta financial services, it is not specifically related to the jurisdiction of Malta or to Maltese auditors.