Date: 22 September 2021
Event CPE Competencies: 3 hours Core, 3.5 hours Professional
Doors open: 8:00 AM
Starts: 9:00 AM Ends: 5:45 PM
Details for Admission:
All attendees must have a valid soft copy Covid-19 Vaccination certificate which will be scanned prior entry. Please ensure the brightness on your phone is set to the maximum before entry.
Members - €190.00
Non-members - €230.00
Retired members & Students - €160.00
If we think about the future, we know that the only way forward is to CHANGE OUR MINDSET. This shift should be one that puts SUSTAINABILITY at the core of every organisation.
When we think about the 3 R’s – REUSE, REDUCE, RECYCLE one may also add another 2 – Refuse and Remind. However, Accountants have taken it into their hands to come up with the most effective ‘R’ that will make all the difference, this is REPORT.
Why is this? Because money makes the world go round and the only way for people to know exactly what companies are doing with their money in terms of Sustainability is to have it disclosed in financial statements in terms of non-financial information disclosures.
SUSTAINABLE REPORTING! This is how Accountants and Auditors will change the world into a more sustainable one!
The concept of Sustainable Accounting has been around for a while…it originated about 20 years ago. However, now we have the Corporate Sustainability Reporting Directive (CSRD) proposed by the European Commission, with the draft standards to be developed by the European Financial Reporting Advisory (EFRAG) and will take effect soon.
Sustainable finance means that Environmental, Societal and Governance (ESG) considerations are taken into account when making investment decisions. This means more long-term investments in sustainable economic activities and projects.
Due to the CSRD proposal more companies than ever will be obliged to provide disclosures on Environment, Society and Governance (ESG). The CSRD proposal will extend the scope of the requirements to include all large companies, whether they are listed or not and without the previous 500-employee threshold. This change would mean that all large companies are publicly accountable for their impact on people and the environment.
Thus, for this year’s Biennial Conference, the Malta Institute of Accountants has brought together key players that are advocates for Sustainable finance, including:
This is targeted towards all managers, accountants, auditors and policy makers; they will be impacted by Sustainable finance in the coming years.
Welcome Address by Mr Fabio Axisa, MIA President, and Ms Maria Cauchi Delia, MIA Chief Executive Officer
Corporate Sustainability Reporting - The Directive and way forward, addressed by Mr Olivier Boutellis-Taft, Accountancy Europe Chief Executive Officer and discussed through a panel discussion moderated by MIA President.
Panel made up of international speakers including Mr Kevin Dancey, IFAC CEO, Mr Thomas Dodd, European Commission Team Leader – Sustainability Reporting DG FISMA, Ms Noémi Robert, Accountancy Europe Director and Ms Saskia Slomp, EFRAG CEO.
Speeches by Dr Bernard Grech, Leader of the Opposition and by Mr Carmel Cacopardo, Chairperson of ADPD - The Green Party
Intervention by Dr Robert Abela, Prime Minister of Malta
Corporate Sustainability Reporting and Malta’s negotiations with the European Union, discussed through a panel discussion moderated by Prof. Simone Borg, Ambassador for Climate Change. Panel made up of Dr Michael Xuereb, Chief Officer Strategy, Policy and Innovation, Malta Financial Services Authority, and Mr Saviour Vassallo Acting Head of the Climate Change Unit at the Malta Resources Authority.
ESG - where are we heading to?, Dr Miriam Dalli, Minister for Energy, Enterprise and Sustainable Development
Networking Coffee Break
Where do we stand? - Local Snapshot, MIA CSRD survey results presentation in collaboration with MISCO, MIA CSRD Working Group members, Dr Ivan Grixti, UOM Senior lecturer and Mr Antoine Fenech, Deloitte Senior Manager of Assurance.
ESG, Sustainable Finance and Climate Risk - A local & International perspective, presented by Mr Ullrich Hartmann, Compliance, Risk & Regulation in Financial Services, PwC Germany and discussed through a panel discussion, moderated by Mr Norbert Paul Vella, PwC Malta Senior Manager.
Panel made up of international and local speakers including Mr Hartmann, Mr Richard Spencer, ICAEW Director of Sustainability, Dr. Roberta Lepre, Project Manager of CORE Europe Direct Centre, Mr Jonathan Cassar, HSBC Chief Accounting Officer, Mr Kenneth Farrugia, BOV Chief Retail Banking Officer, Mr Victor E. Agius,Non-Executive Board Director at the APS Bank Plc and Chair of the Bank’s Credit Committee, Chair of the ESG Committee and member of the Risk Committee, and Ms Marisa Xuereb, President of Chamber of Commerce.
Sustainable Reporting & Assurance, presented by Mr Damian Regan, Assurance Leader for Sustainability at Deloitte’s Middle East, and discussed through a panel discussion, moderated by Mr Michael Bianchi, Director and Sustainability Champion at Deloitte Malta.
Panel made up of international and local speakers including Mr Regan, Ms Sharon Machado, ACCA Portfolio Head of Business Reporting, Ms Anne Marie Tabone, Farsons Group CFO and Ms Christine Galea, GO Plc Financial Controller.
Networking Coffee Break
ESG and the local enterprise, addressed by Dr Mario de Marco, Shadow Minister for Finance, and Mr Clyde Caruana, Minister for Finance and Employment, subject presented by Mr Arnaud van Dijk, Principal, KPMG in the Cayman Islands, and discussed through a panel discussion, moderated by Mr David Pace, KMPG Malta Partner - Head of Advisory.
Panel made up of international and local speakers including Mr van Dijk, Ms Abigail Mamo, Chamber of SMEs CEO, Mr Christopher Arnold, IFAC Head of SME/SMP and Research and Mr Malcolm Camilleri, PG Group Plc CEO, and Mr Johan Zammit Founder and CEO at Smart Studios.
The “value” aspect of sustainability: the operational side and related impacts, presented by Mr Massimo Bettanin, EY Partner and discussed with Mr Chris Meilak, EY Malta Executive Director, Strategy & Transactions - Valuation, Modeling & Economics.
Concluding remarks by Mr David Delicata, MIA Vice President
The agenda & speakers are subject to changes.
Mr Fabio Axisa, MIA President
Mr Axisa is a partner at PwC Malta and his professional experience encompasses involvement in statutory audits of entities operating in financial services, special regulatory and advisory assignments, and advising public interest companies and their boards on control issues and improvements, reporting issues and governance matters.
He is Malta firm’s lead technical expert particularly with respect to adoption of the requirements of International Financial Reporting Standards (IFRSs) and regulatory matters. He has been in charge of technical matters within the firm for a considerable number of years and is heavily involved in IFRS consultation work. Over the past few years, he has also been involved in delivering technical courses both within the firm and externally. In 2016 and again in 2020, Mr Axisa was re-elected to the Council of the Malta Institute of Accountants.
Ms Maria Cauchi Delia, MIA CEO
Maria Cauchi Delia is the CEO of the Malta Institute of Accountants, leading the strategy of the approved professional accountancy organisation in Malta. She represents the Institute with top-level national and international stakeholders.
A certified public accountant, Ms Cauchi Delia has broad experience in the public and private sectors and has served in organisations both in Malta and abroad. She graduated from the University of Malta and is a Fellow Member of the Malta Institute of Accountants.
Mr Olivier Boutellis-Taft, Accountancy Europe CEO
Mr Boutellis-Taft has been Accountancy Europe’s CEO since 2006. He regularly speaks on issues related to European affairs and has been active in the sustainable corporate governance field for several years. A lawyer and economist by training, his prior experiences include being a public prosecutor in France, director at PwC, board member of the European Policy Centre and director of XBRL international.
Mr Kevin Dancey, IFAC CEO
Mr Dancey has a history of leadership in the accountancy profession and public service. As Canadian Institute of Chartered Accountants President and CEO, he led the Canadian accountancy profession’s unification, becoming CPA Canada’s first President and CEO after the merger. He also served as the Assistant Deputy Minister, Tax Policy, at Finance Canada (1993-1995), on the Canadian Auditor General Panel of Senior Advisors (2006-2015) and as an Auditing and Assurance Standards Oversight Committee member (2017-2018) and CCAF-FCVI Inc. board member (2008-2013).
His international accountancy experience includes the Public Interest Oversight Board (2017-2018), the IFAC board (2006-2012) and the Global Accounting Alliance (2006-2016), where he was also Chair from 2008 to 2012.
Mr Dancey was PwC’s Canadian Senior Partner and CEO and was a PwC Global Leadership Team member from 2001-2005. He was national tax practice leader for Coopers & Lybrand before the merger with Pricewaterhouse.
He currently chairs Finance Canada’s Departmental Audit Committee and is on the Advisory Board of the CPA Canada Martin Family Initiative, which mentors Canadian indigenous youth, having previously served as the National Coordinator for the program. He is also a Senior Fellow at the CD Howe Institute, a Canadian research institute dedicated to raising living standards through economically sound public policies.
Mr Dancey is a Fellow at CPA Ontario, where he first qualified, and a member of CPA Canada. He holds a Bachelor of Arts (Hon.) in Mathematics & Economics from McMaster University (Canada).
Mr Thomas Dodd, Team Leader, Sustainability Reporting, European Commission
Mr Dodd is been team leader for sustainability reporting in the European Commission’s Directorate-General for Financial Stability, Financial Services and Capital Markets Union (DG FISMA). He joined the European Commission in 1996, and has worked on humanitarian and development aid, corporate social responsibility, and the bioeconomy and bio-based industries.
Ms Noemi Robert, Director, Accountancy Europe
Ms Robert has been working for more than nine years at Accountancy Europe, currently focusing on sustainability matters. She has extensive experience in auditing, corporate reporting and consolidation in IFRS and is a Certified Public Accountant in France and has an MBA in Audit and Controls.
Saskia Slomp, CEO, EFRAG
Saskia Slomp has been appointed EFRAG CEO from 1 April 2019. She has been Governance and Admin Director at EFRAG from 1 January 2010 until 31 March 2019. In this role, she supported the various governance bodies of EFRAG and was responsible for the user activities and outreach events, in addition to her responsibilities for human resources. Until the end of 2009, she was Technical Director at FEE (now Accountancy Europe), one of the founding member organisations of EFRAG. She has been involved in EFRAG since its establishment. Within Accountancy Europe, she was responsible for financial reporting, company law, corporate governance, capital markets, SMEs, sustainability issues and the public sector. In the beginning of her career, she worked with KPMG in The Netherlands. Saskia is a member of the Dutch NBA.
Mr Carmel Cacopardo, Chairperson of AD+PD - The Green Party
Architect and Civil Engineer. Graduate of the Universities of Malta (architecture and civil engineering) and Staffordshire (sustainability and environmental management). Author of the book Time for Radical Change. The introduction of eco-taxation in Malta. Practitioner Member of IEMA the UK Institute of Environmental Management and Assessment.
Dr Michael Xuereb, Chief Officer Strategy, Policy & Innovation
Dr Xuereb was appointed as Chief Officer Strategy, Policy and Innovation in March 2020. He joined the MFSA in 2000, heading a number of functions throughout his years at the Authority, more recently occupying the position of Director – Regulatory Development and Financial Stability. In 2019 he was appointed as Senior Advisor to assist in the implementation of policy initiatives and regulatory reforms, as well as in the CEO’s engagement with national and international institutions and other stakeholders. Throughout his career he has held senior posts with various public authorities and institutions
Dr Miriam Dalli, Minister for Energy, Enterprise and Sustainable Development
As the Minister responsible for Energy, Enterprise and Sustainable Development, Dr Miriam Dalli has sustainability and the transition to clean energy and the green economy among her top priorities. As a former MEP, she was responsible for the European Green Deal, where she worked directly on legislations related to climate change and sustainability in industry and transport. Dr Dalli has negotiated the EU legislation to reduce CO2 emissions from cars and vans by 2030 and legislations to reduce emissions from different sectors known as the Effort Sharing Regulation and the Emission Trading Scheme.
Dr Ivan Grixti, Senior Lecturer, University of Malta
Dr Grixti senior Lecturer in Financial Accounting at the University of Malta within the Department of Accountancy is actively engaged in furthering the knowledge of accountancy within the local community through various educational initiatives. He is a regular contributor in the local press.
Mr Antoine Fenech, Senior Manager of Assurance, Deloitte
Mr Fenech is the lead Senior Manager of Assurance within the Audit and Assurance function at Deloitte providing advisory services ranging across IFRS technical advisory, accounting software implementation advisory services, internal controls assessments and training to middle and senior management. He also acts as the statutory audit senior manager on a number of local and international public interest entities.
Mr Massimo Bettanin, Assurance & Advisory, EY Malta
Mr Bettanin joined EY in September 2021 doing both Assurance & Advisory. He is leading Sustainability & Climate Change practice in Central, Eastern and South-Eastern Europe. He has a degree in Economic Science, a one-year post-graduate diploma in Environmental Engineering at the Polytechnic of Turin (Italy) and Brooks University of Oxford (UK) and has just successfully completed a program of study designed by the University of Cambridge Institute for Sustainability Leadership in ‘Business and Climate Change: Towards Net Zero Emissions’. He has more that 25 years of experience in a wide range of sustainability, environmental and health & safety management, compliance and performance related activities and projects both in developed and emerging countries.
Mr Chris Meilak, Economist and Executive Director at EY Malta
Chris Meilak is a Certified Public Accountant, Economist and Executive Director at EY Malta, leading the Valuation, Modeling and Economics sub-service line in Malta, including the Climate Change & Sustainability services offering in Malta. Chris holds an MA in Economics and the ACCA degree, and is a Visiting Lecturer in the Department of Economics, University of Malta.
Mr Norbert Paul Vella, PwC Malta Senior Manager
Mr Vella is a Senior Manager at PwC Malta. He has over 13 years of professional experience in regulatory matters within the local banking sector and is well versed with the ongoing developments in respect of the management and supervision of ESG risks for credit institutions including in respect of climate-related and environmental risks.
Mr Ullrich Hartmann, Compliance, Risk & Regulation in Financial Services, PwC Germany
Ullrich Hartmann is Partner in the Banking and Capital Markets practice in Frankfurt and leads the Risk & Regulatory Team in PwC Europe. He is Sustainable Finance Leader in Germany and EMEA. He holds a diploma in business administration and is Certified Public Accountant as well as Tax Advisor. Mr Hartmann is specialised in Regulatory Advisory and Audit Services since 1998. He has more than 20 years of audit and advisory experience in the financial sector with focus on regulatory requirements. He is Head of Compliance in Germany and the Risk and Regulatory Services Business Unit in PwC Europe as well as EMEA Leader of Sustainable Finance. Together with his team he developed tools to drive Sustainable Finance, MiIFD II and Basel III/IV projects in an effective way, like a Gap-Analysis Tool, Capital Planning Tools, etc. Since 2011 Mr Harmann is the Chairman of the PwC EMEA MiFID Steering Committees, leads the “FAW” (German Securities Trading Law /MiFID) working group and is member of the Sustainable Steering Committee of the IDW (Institute of Public Auditors in Germany) including various contacts with local and international Regulators.
Mr Richard Spenser, Director of Sustainability, ICAEW
Mr Spenser is Director of Sustainability at ICAEW. He began his career at the Bank of England and then moved into investment banking a N M Rothschild & Sons. This was followed by a period of strategy consulting at Accenture. He sits on the technical working group of CDSB and is a board member of Social Value UK.
Dr Roberta Lepre, Project Manager of CORE Europe Direct Centre
Graduated Doctor of Laws from the University of Malta in 2003, Dr Lepre has served on public bodies and in the non-profit sector, including the Guardian for Future Generations and is currently Director at Weave Consulting, engaging the business community to adopt sustainable practices to have a more positive impact on society and environment and to contribute to the achievement of the Sustainable Development Goals. She is a founding member and Project Director of SEAM (Social Entrepreneurs Associations Malta), member of the board of VSF Malta, and a member of the Advisory Board of the Institute of Directors (Malta). She also forms part of EcoDA’s Task Force on ESG matters manages the newly set up Europe Direct Core Platform.
Mr Victor E. Agius, APS Bank plc, Non-executive DirectorMr. Agius’ experience spans over 40 years of development project finance work, at the World Bank Group, the EBRD in London the Council of Europe Development Bank in Paris. He has led field missions to over sixty countries in Africa, Asia, MENA, Europe and in FSU. Mr. Agius graduated with a BA Hons. (Economics), has an MBA from Manchester Business School and completed Executive training programs at Wharton School of Finance and at Stanford Graduate School of Business.
Ms Marisa Xuereb, President of Chamber of Commerce
Ms Xuereb is President of the Malta Chamber of Commerce, Enterprise and Industry. An economist by training, she is Managing Director of a German-owned manufacturing company and sits on various boards including that of Malta Enterprise, the Malta College of Arts, Science and Technology (MCAST) and the Malta Council for Science and Technology (MCST).
Mr Jonathan Cassar, Chief Accounting Officer at HSBC
With over 20 years of experience, Mr Cassar joined HSBC Bank Malta p.l.c. in December 2008 where he held various senior finance roles. He was appointed Chief Accounting Officer in November 2020 and is experienced in financial reporting, auditing, treasury and regulatory reporting. He held key roles on various international assignments.
Mr Kenneth Farrugia, Chief Retail Banking Officer, Bank of Valletta
Mr Farrugia joined Bank of Valletta plc (BOV), Malta’s largest banking group, in 1985 and has since occupied various positions within the Bank. He currently holds the post of Chief Retail Banking Officer at Bank of Valletta plc and sits on the Group’s Management Board. Mr Farrugia is, among others, responsible for the improvement of the Bank’s market position, as well as the achievement of financial growth and long-term strategic business goals. He is also a Governor of FinanceMalta, Malta’s national promotional body for financial services, and also serves as Chairman of the MASA. He is also the Chairman of Malita Investments plc which is listed on the Malta Stock Exchange.
Mr Damian Regan, Assurance Leader for Sustainability
Mr Regan leads Deloitte's Middle East Sustainability Reporting & Assurance practice, helping clients to understand their contribution to society and their environmental impacts; and assisting them in effectively communicating and reporting their sustainability goals and results. He also works with industry bodies and regulators to develop standards of sustainable practices, reporting and assurance.
Mr Bianchi is specialised in Investment Management Services within Deloitte's Financial Services Practice. He services a broad client base locally and internationally and is responsible for the statutory and non-statutory audits of a number of clients, including Collective Investment Schemes, Investment Management Companies and Fund Administrators and other regulated and non-regulated entities. Mr Bianchi coordinates various international engagements within Deloitte’s Audit & Assurance Practice, and is the Chairman of the FSI sub-Committee at the Malta Institute of Accountants. He is conversant with the technical accounting and reporting requirements for a wide-range of financial instruments and derivative products under IFRS.
Ms Anne Marie Tabone, Farsons Group CFO
Ms Tabone is a Certified Public Accountant with vast experience in the insurance industry having been a leading member of management within Malta’s largest insurance group, Middlesea Group. Throughout her professional career she has developed strong managerial, organisational, financial and communication skills, in addition to a deep understanding of finance, in depth knowledge of the insurance sector, risk management, regulatory environment, investor and customer requirements. A graduate from the University of Malta, Ms Tabone has held directorships in various companies and organisations and she has been a member of several corporate governance bodies. She joined Farsons Group in 2017.
Ms Christine Galea, Senior Manager for Finance Department GO plc
Christine Galea is a Senior Manager responsible for Finance Department at the GO plc. She joined GO plc (then Telemalta) in December 1997 after obtaining the Bachelor of Accountancy (Hons.) from the University of Malta. She is a fellow member of the Malta Institute of Accountants. During these years, she was involved in various projects ranging from introducing activity based costings as a basis for Regulatory Accounts in compliance with the Electronic Communications (Regulation) Act and more recently to the leading the Finance function at GO.
Mr Clyde Caruana, Minister for Finance & Employment
The Minister for Finance and Employment, Clyde Caruana, was appointed Minister in November 2020, an Economist by training, has held the position of Executive Chairman at the State employment agency, Jobsplus, since 2014, more recently had taken up office as Prime Minister’s Chief of Staff. During his tenure at Jobsplus, as Chairperson, he authored several position documents and policy papers, which have been central to the government’s labour force policy. Additionally, he was the main driver to implement these policies and reforms, most notably, related to free childcare, in-work benefits and others. He had previously worked at the National Statistics Office between 2007 and 2012. Caruana also lectures in Economics at the Faculty of Economics, Management and Accountancy at the University of Malta. He has written papers and articles in the welfare state and the labour market, as well as related research and consultancy work.
Ms Sharon Machado, Portfolio Head of Business Reporting, Professional Insight at ACCA
Ms Machado is the author of Professional Accountants changing Business for the Planet and Accountants, Purpose and Sustainable organisations. Along with her team, she generates thought leadership research and shape policy for the accountancy profession, covering topics of financial and non-financial reporting, audit and assurance, tax and business law.
Mr David Pace, KPMG Advisory
David currently heads the firm’s Advisory function, one of the broadest multi-disciplinary teams on the island. Over almost two decades, his career featured corporate finance and deal advisory mandates both locally and overseas, including a lead role in business negotiations and business valuations. His engagement portfolio has led him to work at the heart of strategy within a number of businesses, helping them throughout the process of considering strategic options, articulation of plans and their subsequent implementation and monitoring, with a view to building sustainable businesses. He is an active promoter of entrepreneurship, supports early stage companies, and is a Director on the JAYE Malta Foundation (previously Young Enterprise) Board, of which he was previously Chairperson.
Mr Arnaud Van Dijk, Principle of KPMG
Mr Van Dijk is a KPMG principal, specialized in corporate sustainability and sustainable finance.He has over 15 years’ experience in delivering a broad range of sustainability advisory and assurance services to leading companies, governments and financial services operators addressing emerging Environmental, Social and Governance (‘ESG’) risks and opportunities. Van Dijk is a member of KPMG’s IMPACT team and participates in various working groups globally. He has a master in sustainability (Rotterdam School of Management), is a certified responsible investment professional (RIPC) with the Responsible Investment Association (RIA) in Canada.
Ms Abigail Mamo – CEO, Malta Chamber of SMEs
Abigail Mamo has occupied the position of Malta Chamber of SMEs CEO for the last 7 years. Her experience and expertise revolve around economic topics of competitiveness and sustainability of enterprises, especially SMEs. She is an experienced lobbyist and represents the interest of businesses coming from various economic sectors on a number of high level fora.
Mr Christopher Arnold, Head of SME/SMP and Research, IFAC
Mr Arnold is a Director and Head of SME/SMP and Research at IFAC. He was previously an Audit Manager for one of the big 4 and started his career as a Small Business Policy Adviser at the Association of Chartered Certified Accountants (ACCA).
Mr Malcolm Camilleri, Deputy Chief Executive Officer of PG plc
Mr Malcolm Camilleri is the Deputy Chief Executive Officer of PG plc, a listed Maltese company which holds a leading market position in the FMCG sector as well as the local textile industry. A Certified Public Accountant and a fellow Member of both the Institute of Accountants and Association of Chartered Certified Accountants, he sits on the Board of Directors of various PG plc owned companies. Mr Camilleri joined PG Group in 2006 as Chief Financial Officer following a 3-year experience at an audit firm. His expertise includes business development, auditing, strategic planning, financial accounting and business analysis. He is also a resourceful individual and the company’s driving force in generating new ideas and devising feasible solutions to more efficient operational processes while maintaining a positive and proactive attitude.
Mr Johan Zammit, Founder & CEO at Smart Studios
Johan is the founder and CEO at Smart Studios - a technology & innovation company enabling leading brands and emerging startups to innovate and build world-class digital solutions. Johan is also the founder of Malta Innovation Forum and Malta Business Angels and a board member at Silicon Valletta.
More speakers to be added in due course.