Trust Your Compass to Guide You, Navigate with Confidence and Clarity

Guiding Auditors, Elevating Quality

Independence

Dedicated to Quality, Free of Conflicts

Experience

15+ years of proven Quality Assurance experience

24/7 Support

Around-the-Clock Support, Steering You Forward

Reliability

Navigating Challenges with Timely Expertise

Professional – Independent – Passionate

Trusted Review,
Independent Expertise

Renzo Farrugia is recognised by the Accountancy Board as an Approved Quality Control Reviewer.

Firm Review

A Firm Review offers an independent evaluation of a practice’s governance, independence, and competence by examining its quality management systems, ethical culture, client acceptance procedures, engagement performance, and staff development, ensuring robust compliance, and continuous professional improvement across the firm.

Insightful Firm Reviews

Cold File Review

A Cold File Review offers an objective evaluation of audit documentation, financial statements, and engagement performance conducted after the independent auditor’s report has been issued, ensuring that each aspect complies with professional standards, regulatory requirements, and quality expectations through a retrospective, unbiased assessment.

Retrospective Review, Reliable Results

Hot File Review

A Hot File Review is a real-time, independent evaluation of audit documentation and engagement performance that must be completed in accordance with ISQM 2 Engagement Quality Reviews before the audit report is issued, requiring both the reviewer and the engagement partner to agree on the type of audit opinion to be expressed.

Real-Time Review, Confident Opinion

ISQM Review

An ISQM Review provides an objective evaluation of a firm’s quality management system and ISQM 1 implementation, assessing governance, risk assessment, monitoring, and remediation activities, ensuring that its policies, procedures, and oversight processes comply with professional standards, regulatory expectations, and internal quality objectives through an independent, holistic assessment.

ISQM 1 Compliance Check

Regulatory Readiness

A Regulatory Readiness (RR) Review simulates an external inspection of a firm’s quality management system and selected audit files, evaluating documentation, procedures, and compliance with standards before a regulatory visit, ensuring that potential gaps are identified and addressed in advance through a focused, practical assessment that enhances preparedness and confidence.

Prepared for QAU Visit Inspection

Restricted Review

A Restricted Review offers a targeted evaluation of high-profile or sensitive audit engagements, focusing on specific risk areas such as fraud, going concern, or related party transactions, ensuring that audit procedures, documentation, and conclusions are appropriately supported and aligned with standards, regulatory expectations, and firm quality requirements through a selective, risk-based assessment.

Take Control with Focused Reviews

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Professional – Independent – Passionate

Guiding Auditors with Independent Expertise

To provide independent, expert quality assurance reviews and technical support that enhance the integrity, compliance, and effectiveness of audit and assurance engagements.

To be recognized as a trusted leader in audit quality assurance, setting the benchmark for excellence, independence, and innovation in supporting auditors and firms to achieve the highest standards.

The strategy focuses on delivering personalised and objective audit reviews whilst emphasizing building long-term professional relationships grounded in trust, confidentiality, and transparency.

Call for any inquiries: Monday to Friday: 8am – 4pm

+ 356 9980 2272

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Professional – Independent – Passionate

Get to Know Your Reviewer

Renzo Farrugia is the sole principal of Compass Malta, where he focuses on independent external reviews and offers practical technical support to auditors. He brings valuable experience from his time as a statutory auditor at a Big Four firm and as a reviewer with the Quality Assurance Unit. Since 2008, Renzo has been working independently as a quality assurance reviewer.

Renzo is a certified public accountant with an auditor’s practising certificate and a fellow of the Malta Institute of Accountants. He holds an accounting degree from the University of Malta and an MBA from Henley Business School, University of Reading, UK.

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Renzo Farrugia

Founder

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Renzo Farrugia

Administrative Manager

Bernice Farrugia is the Marketing and Administrative Executive Coordinator at Compass Malta. She actively plans and coordinates Continuing Professional Education (CPE) events, manages the website and social media channels, and handles daily tasks such as administration, client communications and appointment scheduling. Bernice’s open and transparent approach helps build strong relationships with stakeholders, contributing significantly to the training and smooth operation of Compass Malta.

Bernice holds a Bachelor of Education (Honours), which underpins her strong commitment to effective learning and professional development.

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Bernice Farrugia

Executive

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Bernice Farrugia

Professional – Independent – Passionate

Passion Fuelled,
Independence Guaranteed

Professional independence ensures objective judgment, while passion drives dedication, delivering trustworthy, exceptional results.

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Professional – Independent – Passionate

Why choose COMPASS?

With years of experience building impactful relations, top-rated services are delivered with a focus on personalised attention and professional excellence. A commitment to fostering strong, trustworthy connections ensures that one benefits from expertise tailored to their specific needs. The proven track record demonstrates a dedication to quality and success in every engagement.

  • Connecting with Purpose. Impacting with Integrity.

  • Proven Expertise. Trusted Results.

  • Leading with Quality. Trusted by Many.

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Recognised Quality Assurance Reviewer
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Years Experience in Quality Assurance Matters
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Quality audits. Consistent results. Satisfied clients.

Professional – Independent – Passionate

Latest Insights and Perspectives

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