July MIA AGM Save The Date
The annual general meeting of the Institute will be held on Thursday 16 July 2015. Members who wish to be nominated for election to the Council are kindly requested to inform the Institute, in writing, by not later than Friday 31 May 2015. Any Member who wishes to bring before the Annual General Meeting any motion not related to the ordinary annual business, but relating to matters affecting the Institute or the Accountancy Profession as laid down in Bye-law 5 .04 of the Statute, are to remit any such motion to be received by the Secretary General by not later than Friday 31 May 2015.
The following Members of Council will be eligible for re-election:
- Mr Franco Azzopardi
- Mr Etienne Borg Cardona
- Mr Simon Flynn
- Mr Kevin Mahoney
- Ms Maria Micallef
- Mr William Spiteri Bailey
- Mr Anthony Zarb
MIA 50th Anniversary Celebrations
This year the Institute will be celebrating its first 50 year anniversary. On 28 May exactly 50 years ago, the original MIA (set up in 1942) merged with the Malta Corporation of Accountants (formed in 1954) and retained its original name that of the Malta Institute of Accountants.
At the Institute’s first General Meeting the Members present elected a Council of 12 members for the Institute as newly formed: Hon President, Paul Busuttil, President, John Falzon, Vice-President, Arthur Arrigo, Secretary, Joseph Tabone, Assistant Secretary, Sydney Barbara, Treasurer, Paul Galea Souchet, Assistant Treasurer, Anthony Camilleri, Members, Gontran Borg, Francis X. Darmanin, Edward Messina Ferrante, Charles Sammut and John L. Duncan.
Since then the newly formed Institute has always made it a point to be at the forefront of International and local developments and debates. Nowadays the Institute is still striving to be the Voice of the Maltese Accounting Profession and today more than ever, the MIA remains committed to attract the best talent to the profession and to provide high quality support services to its ever-growing member base. An event to commemorate this important day will be held at the MIA’s offices in Swatar on 1 June 2015. A number of initiatives will be launched by the President on the day.
MIA Holds Its Sixth SMP Forum
In April the MIA held its sixth forum for small- and medium- sized practitioners (SMPs). MIA’s Small- and Medium- Sized Practices Advisory Committee (SMPAC) drafted a full-day programme event covering a wide array of topics which are of interest to SMPs.
The SMP Forum brought together representatives from the regulatory community and thought leaders and experts in their fields who addressed current issues, industry best practices seeking to address common challenges, and knowledge-sharing opportunities.
Ms Maria Micallef, MIA President welcomed and updated the participants about the work which was carried out by the MIA during the past year. Ms Micallef reminded participants about the ongoing technical support offered by the MIA Technical Department and ACCA Helpdesk facility (free of charge for Members). Participants were also informed about the online CPE platform which will be shortly launched by the MIA. Mr William Spiteri Bailey, MIA Honorary Secretary and Chairperson of MIA’s SMP Advisory Committee continued by presenting an overview on the work carried out by the SMPAC in favour of the SMPs and gave an insight to the IFAC and IFAC’s SMP Committee on which he sits as technical advisor.
Back to the day’s programme, Mr Raphel Aloisio spoke about one of the main challenges for SME, access to finance. Venture Capital Malta and Malta Stock Exchange prospects were the main items of this presentation. Participants were then presented with two concurrent sessions about credit management, and foundations and cooperatives. Mr Simon Camilleri and Mr Charles Xuereb spoke about the importance of credit management and good credit management practices. Dr Vitorine Bajada LL.D. and Mr Rolan Micallef Attard created more awareness on the concepts of foundations and cooperatives. Dr Ian Spiteri Bailey LL.D. depicted dismissals in employment law and related case-law in a very interesting manner by presenting various cases for discussion with the audience.
After lunch, Dr Alexander Mangion LL.D. presented the recent amendments to the Prevention of Money Laundering Act and the Prevention of Money Laundering and Funding of Terrorism Regulations. Inspector Antonovitch Muscat focused on the salient provisions of the anti-money laundering legislation, the involved parties, the tracing of assets and international cooperation. This was accompanied by real case scenarios. In the concluding session, Dr Joseph Giglio LL D., assisted by his brother Paul, spoke about the professional and crime, addressing those situation that create difficulties in practice.
MIA Particpates In Bulgarian ICPA Conference
In April, the MIA Technical Director Mark Abela represented the Institute in the Bulgarian Institute of Certified Public Accountants conference entitled “The Auditing Profession in the Context of the New European Legislation”. Participants included representatives or other European professional accountancy organisations as well as the President of FEE, Mr Petr Kriz and Mr Jacques Potdevin, Member of the IFAC Board.
Mr Abela participated in a panel discussion entitled “The Influence of the New Accounting and Auditing Legislation on the Small and Medium-Sized Audit Practices” and spoke about Malta’s initiatives related to the transposition of the accounting and statutory audit directives. The second part of the conference addressed key Issues in the Application of the statutory audit directive (EU 2014/56/EC) and the PIE Regulation (EC 537/2014) within the Legislation of the Member Countries of the European Union.
MIA Donation To Puttinu Cares
The proceeds collected from a raffle organized at the MIA Xmas party held at The Villa on 4th December 2014 which was attend by over 400 members amounted to some €670. These were rounded up to €1,000 by the Institute and donated to the cancer support group Puttinu Cares. The MIA president Maria Micallef is seen presenting the respective cheque to Mr Andrew Decelis of Puttinu Cares.
New MIA Members
- Mr Semen Spiridonov
- Ms Kristina Hili
- Mr David Bajada
- Ms Susan Caruana Domancich
- Mr Clarence Attard
- Ms Charlene Attard
- Ms Maria Grech Sant
- Mr Henry E. Micallef
- Ms Sarah Refalo
- Mr Joseph E. Scerri