It doesn’t matter where accountants carry out their work from. It doesn’t matter what means you use to work. What matters is that you reach your destination safely, punctually, steadfastly and pay due consideration to the interests of others.

The notion of accounting as a new profession in Malta in the middle of the last century was that of someone who keeps books and later also prepares the tax return. While the original notions remain, today’s notion of an accountant is far wider and more sophisticated.

Getting here was arduous. The business world has positively changed the way people live today, sometimes hurting people in the process. It has also changed the accountant’s role from one of detecting to that of preventing damage to society through unethical practices. Today’s accountant is surrounded by volumes of standards, rules and regulations which channel the members of the profession into a narrow band of how to do things. This, however, by no means narrows the variety of disciplines that accountants engage in, but a red line of ethics runs through all that they do. So, for instance, if accountants keep books they cannot also audit them, and if they advise on a key number in the balance sheet they cannot then also provide assurance thereon, unless they have all the necessary safeguards in place.

This state of affairs has not dampened the accountants’ character however, and their sense of judgement based on their extensive professional training and experience remains of undeniable value to business owners and company directors who report to society on their financial performance and health, as well as the readers of those reports; to the users of public money as well as the providers of capital, that is to society as a whole.

Today’s accountant has a role that brings him much closer to society. The culture, the social dilemmas, the regulation of the financial, business and accountancy worlds turned accountants into guardians of correct behaviour both within their own profession as well as of ethical conduct in their clients’ interaction with society.

Accountants lend credibility in whatever they do; a rather onerous statement to make. A responsibility which demands not only a lot of professionalism but also constant consideration as to why an accountant practices their profession beyond keeping books and tax returns.

An accountant’s place is in society.

Mario P. Galea is Chairman MIA Ethics Committee.