An intimate foray into the 50-year journey of the Malta Institute of Accountants

On 4th June 2019, MIA President William Spiteri Bailey presented George Cassola with a publication of the Malta Institute of Accountants authored by Cassola himself.

The book is a chronological narrative of the milestones and achievements over the Institute’s first fifty years, 1965 – 2015.

The book is an excellent addition to one’s library as well as a prestigious reference in corporate offices.

We have special offers for MIA Members as well as corporate offers of five books and more.

Contact us on 2258 1900 or send an email to bookings@miamalta.org

The Malta Institute of Accountants (MIA) signed a Protocol of Cooperation with the Institute of Certified Public Accountants of Cyprus (ICPAC), forging a new alliance that promotes the interests of respective members.

The agreement provides new opportunities for training and development in a range of technical matters. The two bodies will form an educational and research partnership to support professionals in both countries.

“Malta and Cyprus have similar and unique circumstances that this cooperation exercise intends to harvest and promote,” said Institute CEO Maria Cauchi Delia. The two island states are not, however, identical, and Cauchi Delia explained that the contrasts will be leveraged to encourage innovation in the profession.

Through the protocol, the MIA and ICPAC will collaborate on educational events as well as scientific and technical training activities in the areas of primary interest, such as audit, IFRS, anti-money laundering, corporate reporting, technology and regulatory compliance.

The agreement will facilitate participation in research and development programmes on local and international level and allow a healthy exchange of information and expertise. Professionals will benefit from knowledge transfer and sharing of best practices to overcome common challenges.

The protocol with ICPAC represents an important stage in the Malta Institute of Accountant’s plan to develop strategic relationships with international stakeholders.

Left to Right: Kyriakos Iordanou, William Spiteri Bailey, Amalia Hadjimichael, Maria Cauchi Delia, Margaret Buhagiar.

William Spiteri Bailey in his capacity as MIA President presented at the Prize-winning Dissertations and Best Dissertation Awards Ceremony at the University of Malta on 02nd April 2019.

The prizes are awarded to University graduates which the Institute supports as part of its ongoing efforts to foster talent in the profession.

Mr Spiteri Bailey presented to Matthew Sciberras for Best Student in the Master in Accountancy Course Group 2016 – 2018.  We wish Mr Sciberras the best of luck and success in his career within the profession.

The Ministry for Education and Employment has embarked in the ‘I Choose’ initiative for another year, targeting all 5th formers. This will be another opportunity whereby our students can explore further career options as they leave compulsory education.

The Malta Institute of Accountants has so far attended the Fair organised in Gozo and the three-day fair held at St. Ignatius College in Siggiewi meeting with our future talent.

Students had to the opportunity to learn about the accounting profession and the career paths available for those whose passion is accountancy and numeracy.

These fairs are also being supported by members from MIA committees who have volunteered their time to give valuable career guidance.   We were joined by Stefanel Mercieca Zammit from the Young Members Advisory Focus Group and Jozef W Galea from the SMP Advisory Focus Group and Direct Taxation Committee, on two different occasions.

President of Malta visit at MIA on Thursday 7th March 2019

Institute of Accountants takes lead to address gender-based disparity

President Marie-Louise Coleiro Preca praised the Malta Institute of Accountants for taking the lead on gender pay inequality and hoped that other professions follow the example. MIA commissioned a member survey to assess gender-based pay disparity in the accounting profession.

Conducted by Misco, the study shows that the gap in income between men and women tends to grow as careers progress.

Speaking at the presentation of findings, Institute CEO Maria Cauchi Delia said that women carry a heavier burden because they are more likely to take career breaks to raise their families, falling out of pace with their male colleagues who continue to develop their careers.

In fact, the study reveals that less than five percent of companies offer structured career break opportunities that allow employees to balance their professional and personal development.  Misco Director Lawrence Zammit said that reduced hours oftentimes penalise women most because they affect their bonuses and performance benefits, contributing to a widening gap along the years.

“Work rate should not be measured by hours spent at the office but by the value it creates.” said Cauchi Delia, arguing that all roles, irrespective of gender, should be made more flexible.

President Coleiro Preca claimed that disparity in pay not only affects quality of life in the immediate term but constitutes inequality in pensions at the end of the professionals’ careers, pushing down women’s gross entitlement in relation to men. “These are inequalities that will have to be carried by society,” warned the President.

Maria Cauchi Delia said that the Institute will be promoting best practice to its members and industry and make recommendations about strategic issues including the need for increased flexibility, Gender-Neutral Job Evaluation Schemes, compensation schemes and salary transparency. She said that the profession wants to keep attracting a balanced share of both women and men but indicated that more women are needed in top positions. The increasing number of female graduates, said Cauchi Delia, gives hope for change.