Over the last few years, Malta has had to draft in over 100 foreign accountants annually in order to match the local market’s demands, MIA president Franco Azzopardi said.

The Malta Institute of Accountants recently welcomed 211 new members to its ranks, boosting the membership to 3,000 accountants. The MIA also supports the education of 1,800 students.

With increased foreign direct investment and a flourishing services sector, Malta needs to substantially increase the number of new accountancy graduates each year in order to sustain its growth, he warned.

The Faculty of Economics, Management and Accountancy at the University of Malta produces some 100 accountancy graduates annually.