The Malta Institute of Accountants held its 59th Annual General Meeting on October 5, 2023 at Villa Arrigo, during which seven of its members were elected to its Council.
The elected members were Edmond Brincat, Mark Anthony Bugeja, Thomas Galea, Paul Giglio, Ronald Mizzi, Lucienne Pace Ross and William Spiteri Bailey. They joined Fabio Axisa, David Delicata, Jonathan Dingli, Shawn Falzon, Christopher Portelli and Annabelle Zammit Pace on the Institute’s Council.
During the AGM, members of the Institute exchanged ideas and opinions in a lively debate during which they voted on various motions intended to improve the Institute’s structure as well as its governance and transparency standards. Members of the Institute also voted to appoint the disciplinary proceedings setup where Mario Galea and Alan Craig were respectively appointed as the chairperson and deputy chairperson of the Disciplinary Committee. Anthony Zarb was re-appointed as the chairperson of the Appeals Board while Elvia George was appointed as deputy chairperson of the Appeals Board. Members also appointed the Appeals Pool which is made up of 10 members.
Addressing the Annual General Meeting, outgoing president David Delicata underscored the significant accomplishments of the Institute in recent years. He highlighted the pivotal role played by the Institute in supporting national efforts to secure a timely removal from the Financial Action Task Force's grey-listing. He also referred to the continuous flow of regulatory changes stemming from international and local authorities: “Within this dynamic environment, the Institute has been actively engaged in assessing these proposals, offering expert advice, and ensuring that the concerns and needs of the profession are adequately represented. Simultaneously, the Institute has maintained open communication with its membership base, ensuring that they remain well-informed about the evolving regulatory landscape and its implications," he explained.
Delicata also spoke about the contribution given by the Institute towards the development of a financial strategy for Malta as well as efforts to address the existing skills gap, through engagement with authorities as well as through own initiatives to attract more resources to the profession, including a nationwide and multimedia education campaign.
During the first meeting of the new Council held shortly after the AGM, the four Officers of the Council were elected. Mark Anthony Bugeja was elected as the Institute’s new president, Lucienne Pace Ross as vice-president, Jonathan Dingli as secretary and Annabelle Zammit Pace as treasurer.
Bugeja, who had served as the Institute’s vice president for the past year, extended his gratitude to the Council members for the confidence shown in him. He also conveyed his appreciation to the outgoing president, David Delicata, for his exceptional contribution over what has been a very demanding term.
Looking forward at the upcoming presidency period, the newly elected president highlighted several challenges facing the Institute and the accountancy profession. He has committed his effort and that of Council to continue enhancing the role and contribution of the Institute and the profession as a major stakeholder, and as a key driver in supporting Malta’s further growth as a dynamic, digital and sustainable economy in the years ahead.