Malta’s accountancy profession is stepping forward to lead change, as rapid technological and regulatory developments redefine how accountants deliver value to businesses. The Malta Institute of Accountants (MIA) is calling on practitioners, particularly those serving small and medium-sized enterprises, to take the lead in driving innovation, investing in digital tools and expanding their advisory role to help clients adapt to a changing economy.
Opening the Institute’s annual Conference dedicated to small and medium-sized practitioners (SMPs), MIA Chief Executive Officer Maria Cauchi Delia said that the profession must view transformation as an opportunity rather than a threat. “Change is the only constant, and our response to it will define the future of our profession,” she said. “While audit exemptions and digital reporting may alter traditional practices, they open new doors for accountants to strengthen their role as trusted advisers. This is the moment to evolve, to broaden our services and to invest in both technology and professional development so that we continue adding value to businesses and to Malta’s economy.”
Newly elected MIA President Dr Jonathan Dingli emphasised that the Institute’s mission is not only to respond to change but to lead it. “The future of our profession lies in embracing digitalisation, data analytics and automation, while ensuring that technology enhances, rather than replaces, human expertise. We must go beyond compliance. Our true value lies in helping businesses grow stronger, more resilient and more sustainable,” he said.
The conference brought together leading experts in the sector, including Paul Gisby, Senior Director at Accountancy Europe and Harpal Singh, Principal for Small & Medium Size Practices and Thought Leadership at the International Federation of Accountants, who underscored that agility and innovation are now indispensable to the profession’s future. They highlighted that as automation increasingly handles repetitive tasks, accountants have a growing opportunity to focus on insight, strategy and long-term value creation.
Tax Commissioner Joseph Caruana described this as a “period of significant change,” noting that upcoming real-time reporting obligations under the European Union’s (EU’s) Value Added Tax in the Digital Age (ViDA) package will transform the way businesses interact with tax systems. He said practitioners will play a vital role in supporting clients through this transition, ensuring compliance and enhancing data-driven decision-making.
The conference also featured updates from the Financial Intelligence Analysis Unit on Malta’s National Risk Assessment and discussions on the establishment, and the impact, of the EU Anti-Money Laundering Authority. These sessions highlighted how regulation, technology and transparency are increasingly converging, reshaping the accountant’s role within Malta’s evolving business landscape.
The conference was supported by Scope, Fyorin and Finance Incorporated Limited.
