Financial services firm Portman International has adopted CaseWare accounting and auditing software for its Malta operation.

The software, which was customised for local legislation by newly appointed local representatives Audit Solutions Ltd of Balzan, was already being used for Portman International's accounting and auditing practices in the UK and Ireland.

CaseWare adopts the Windows Explorer format and is intuitive and user friendly - all in a paperless environment. Its financial reporting template has been customised to include Notes required by the Companies Act in Malta. There are also templates for the abridged version of financial statements for both private exempt and private non-exempt companies, and the full IFRS-based financial statements.

This software has also been adapted to comply with the implementation of the General Accounting Principles for Small Entities. CaseWare programs are also linked to Tax Index of Financial Data required by the Inland Revenue Department.

Updates to the software are provided at least annually. The software includes a library structure with three layers so stored data is not overwritten when updates are integrated. There are 400 notes built into the library with titles that apply to the accounts that are being produced. These are also updated annually. In-house notes can be added to the library. It is estimated that 10 hours per job can be saved using these CaseWare notes.

The Portman International business was established in London in 1985 and offers a comprehensive range of professional, fiduciary and trading support services in Malta, the UK and Ireland. CaseWare is a Canadian company whose licence has been acquired by 250,000 auditors worldwide. Based in Toronto, it has a network of 90 distributors. The company appointed Audit Solutions as its local distributor last April.