The Malta Institute of Accountants and the Institute of Chartered Accountants in England and Wales have announced a collaboration to offer Maltese qualified accountants increased access to the latest technical developments and thought leadership and to work on regulatory issues.
The MIA and ICAEW celebrated the collaboration agreement with a first joint event at the Hilton Malta. The agreement entails knowledge sharing, thought leadership initiatives and joint events. It will also provide the 1,800 members of the Malta institute access to the online resources of ICAEW’s faculties, offering accurate and timely technical analysis and debate within specialist areas such as audit and assurance, financial reporting and financial services.
Martyn Jones, ICAEW vice president, said: “ICAEW and MIA share a common vision to invest in and develop the accountancy profession to promote sustainable growth and inspire business confidence. Collaboration on technical matters is something both institutes can benefit from.”
Anthony Doublet, MIA president, said: “Keeping up-to-date with the latest technical developments is critical to all qualified accountants. ICAEW’s technical expertise is renowned and recognised globally. We are therefore pleased to work with ICAEW to increase access for MIA members to the latest technical information and debates, and facilitating exchange of views and networking with peers across country borders”.
The first joint event focused on the highly topical European Commission legislative proposals impacting on the profession in the audit and accounting spheres. The agenda included the EC proposals for audit which, if approved, would entail some radical changes for the audit profession and the proposed amendments to the 4th and 7th Accounting Directives, which could lead to a significant reduction in the financial reporting requirements for entities with €5 million of assets and €10 million of revenue, thus encompassing the majority of Maltese companies. Among the senior speakers to debate the proposals were MEPs Simon Busuttil and Edward Scicluna, chair of the Accountancy Board, Charles Rapa, and practitioners from accountancy firms in Malta.
Martin Manuzi, ICAEW regional director for Europe, and chair of the panel, commented: “Regulatory reform at EU level will potentially have a significant impact on accountancy and finance professionals across Europe, whether they work in business and practice. Having access to analysis and exchanging experiences and views across country borders is critical for staying on top of the issues and ensuring a proportionate and evidence-based outcome in policy terms.”