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External audit

In terms of article 20 of the Central Bank of Malta Act, Cap 204, the accounts of the Central Bank of Malta are audited by independent external auditors appointed by the Board of Directors on the recommendation of the European Central Bank (ECB) and approved by the Council of the European Union according to article 27.1 of the European System of Central Banks and the ECB Statute. The Independent auditor's report is published as part of the Bank’s Annual Report.