The Institute of Accountants has held its 57th annual general meeting on October 1, during which it elected seven fellows of the same institute to its council.
The members are Charmaine Baldacchino, Edmond Brincat, Mark Bugeja, Christian Gravina, Noel Mizzi, Lucienne Pace Ross and William Spiteri Bailey.
They join Fabio Axisa, Christopher Balzan, David Delicata, Jonathan Dingli, Shawn Falzon, Ivan Grixti, and Annabelle Zammit Pace on the 14-member council.
During the event, the MIA members, who joined the AGM online, were able to raise questions to the institute and also vote on a series of statutory changes proposed by the council.
Introducing his final annual general meeting, outgoing president Fabio Axisa highlighted the institute’s efforts to strengthen and elevate the quality and standards within the accountancy profession. While insisting that the accountancy profession in Malta offers a high-quality, highly regulated industry, he acknowledged that there was always scope for improvement.
“Every single complaint against any of our members was investigated and, where necessary, disciplinary proceedings were undertaken"
With the objective of covering as many accountants as possible, the MIA has also instituted a programme for the purpose of including expatriate accountants, Axisa explained, adding that the institute would like to see better numbers in this regard over the coming years.
Recalling that the institute comprises some 3,700 members, the absolute majority of which reflect the body’s ideals and standards, Axisa highlighted the efforts to improve the disciplinary proceedings of the institute.
“Every single complaint against any of our members was investigated and, where necessary, disciplinary proceedings were undertaken,” Axisa noted.
The institute had strengthened its voice and the respect among its peers on a national level over the past few years, the outgoing president said.
“Our voice is considered reliable, relevant and constructive. Our credibility has been attained through our incessant work with respect to formulation of feedback to formal and informal consultations carried out by all relevant regulatory authorities.”
Axisa insisted that the body will continue to take a leading role in future changes, arguing that not only will the MIA continue to provide feedback to matters of national importance but also be proactive with proposals on issues such as the role and structure of the Accountancy Board, which regulates the profession.
Axisa also highlighted the importance of investing further in driving more young people towards the accountancy profession, referring to an ongoing campaign directed at secondary school students, indicating that increasing the supply of quality professional accountants will remain one of the MIA’s priorities.
“We have recently launched a landmark education campaign targeting Year 8 & Year 11 students, to educate these children on the attractiveness of our profession and other topics related to accountancy.”
Axisa thanked his fellow council members, committee members, the management and employees of the institute for their sterling work in favour of the accountancy profession in Malta.
[attach id="1114393" size="large" align="left" type="image"]The MCA annual report for 2020[/attach]
During the first meeting of the same council held shortly after, the four officers of the council were elected. David Delicata was elected as the institute’s new president, Noel Mizzi as vice president, Mark Bugeja as secretary and Christian Gravina as treasurer.
Delicata, who served as vice president of the institute for the past two years, thanked the council members for their trust while expressing his appreciation towards outgoing president Axisa for his sterling contribution throughout the past challenging two years, during which the institute’s voice “was strengthened and became an important stakeholder in matters of national interest”.
Going forward, Delicata expressed his commitment to continue to guide the institute in elevating the standards of the profession and working closely with regulators and other stakeholders to support the country in shoring up its reputation, which is essential in Malta’s post-pandemic recovery.