The Accountancy Board rebuts in the strongest possible manner unfounded allegations made in your article entitled ‘Accountancy Board awaits court decision’ (November 1). The Accountancy Board assures that there has been no intervention whatsoever either from the Ministry for Finance or the government in taking its stance as explained below relating to this case.

It is pertinent to clarify that the Accountancy Board is an autonomous and independent body and it is not subject to instructions from any outside person or body.

With respect to the case itself, after due deliberation, the Accountancy Board determined that once the case is currently the subject of a magisterial inquiry/ies, it is prudent and sensible in terms of Maltese law for it to await the conclusion/s of such inquiry/ies before the board takes any decision on the matter. Such Accountancy Board stance has been taken in the light of the following:

To ensure that the constitutional rights of the persons involved are not in any way infringed. Also subarticle (5) of article 7A of the Accountancy Profession Act Cap 281 stipulates that the supervisory  and  investigatory  powers  of  the  board shall be exercised in full compliance with Maltese law, and in particular, with the principles of respect for private life and the right of defence;

Taking into account that if the Accountancy Board were to immediately apply its powers of investigation to the said particular situation, it would run the serious risk of possibly stultifying the magisterial inquiry/ies that is/are in train, with the real possibility of an obstruction of justice taking place.

It is also to be noted that in taking the stated stance the board has continued to act in consistency with the practice decided in previous cases.