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MIA News

  • 2 Nov 2020 09:53 | Anonymous
    The introduction of the Consolidated Group (Income Tax) Rules poses a number of questions to preparers of financial statements, auditors, and other stakeholders. On behalf of its members, the Institute's Financial Reporting Committee, Direct Tax Committee, and Audit & Assurance Committee have been following and contributing to the developments as they emerge. Amongst others, these committees have been coordinating with the CfR on various matters and assessing the accounting implications at both the fiscal unit's consolidated level, as well as at the individual fiscal unit members' level. The Institute is preparing a guidance note that will address:
    • the scope of the fiscal unit's consolidated financial statements, setting out what statements and other disclosure notes need to be included within a fiscal unit's special purpose consolidated financial statements (where the fiscal unit is required to prepare special purpose consolidated financial statements because the unit's members differ from the IFRS or GAPSME group for statutory purposes);
    • considerations relevant to the recognition, measurement, presentation and disclosure of income tax charges (income) and balances in the fiscal unit's consolidated financial statements, as well as in the parent company's and the other fiscal unit's members' statutory financial statements; and
    • the contents of the auditor's report on those special purpose consolidated financial statements, where such consolidated financial statements are prepared.
  • 2 Nov 2020 09:53 | Anonymous
    The MIA’s AML Committee has over the past months contributed substantially and actively towards the drafting of the sector specific Implementing Procedures Part II which will provide sector specific guidance to accountants and auditors in the field of anti-money laundering. Read more...
  • 1 Oct 2020 13:55 | Anonymous
    The Small and Medium-Sized Practices (SMP) Advisory Group has highlighted various challenges which practitioners encounter in the course of their practice. In order to address these concerns, the MIA scheduled a series of meetings with different competent authorities, with the precise objective of addressing practitioners’ concerns. Meetings with the Malta Bankers’ Association and the Commissioner for Revenue were held during the month of September 2020 whilst meetings with the Malta Business Registry and Malta Enterprise are in the pipeline. These meetings serve as a very useful forum for the clarification of concepts, the exchange of ideas and the putting forward of proposals by the Institute to the relevant authorities. Such meetings also serve to enhance ongoing collaboration between the MIA and these authorities.
  • 1 Oct 2020 13:14 | Anonymous
    The Malta Institute of Accountants (MIA) together with The Institute of Financial Services Practitioners (IFSP) and the Malta Institute of Taxation (MIT) (collectively the “Institutes”) worked together to propose a number of measures that were submitted to the Government of Malta as suggestions for the upcoming 2021 Budget. Read more...
  • 1 Oct 2020 11:10 | Anonymous
    The 2020 Annual General Meeting was held on 17 September, transmitted over video for the first time in 56 years. Over 400 MIA members joined the session live, actively taking part with questions and feedback about the Annual Report. 
    Read more..
  • 25 Sep 2020 07:50 | Anonymous
    During the Annual General Meeting (AGM) held on 17 September, Mr John L Bonello and Mr Lino Casapinta, were appointed as the Chairperson and Deputy Chairperson of the Disciplinary Committee respectively after being nominated by Council. During the said meeting, the following were appointed as members of the Appeals Pool following Council’s nomination:
    Ms Elizabeth Carbonaro
    Ms Elvia George
    Mr Chris Galea
    Mr Paul Mercieca
    Mr Anthony Zarb
    In the first meeting of the Council following the AGM, held on 17 September, Council appointed the following members to form part of the Disciplinary Pool:
    Mr Alexander Abela
    Ms Charmaine Baldacchino
    Mr Edmond Brincat
    Mr Dunstan Magro
    Mr Frances Mifsud
    Mr Stephen L. Muscat
    Mr Jesmond Pace
    Mr Mark Scalpello
    Mr Anthony Scicluna
    Mr James M. Zammit
  • 23 Sep 2020 08:51 | Anonymous
    The 56th Annual General Meeting of the Institute was held today, 17th September 2020, online via Zoom.
    The following members were elected for the two-year term 2020 – 2022:
    Mr Fabio Axisa, Partner, PricewaterhouseCoopers Malta
    Mr Christopher Balzan, Executive Director, Ernst & Young Malta
    Mr David Delicata, Partner, Deloitte Malta
    Mr Jonathan Dingli, Partner, Advisory Services, KPMG in Malta
    Mr Shawn Falzon, Partner, Ernst & Young Malta
    Dr Ivan Grixti, Senior Lecturer, University of Malta
    Ms Annabelle Zammit Pace, Partner, Deloitte Malta
    They joined the following Council Members whose term expires in 2021:
    Mr Etienne Borg Cardona, Director, Capital Advisory Ltd
    Mr Mark Bugeja, Managing Partner, Grant Thornton
    Mr Christian Gravina, CEO, GCS Accounting Malta Ltd
    Mr Noel Mizzi, Partner, Head of Audit (Operations), Audit Services, KPMG in Malta
    Ms Lucienne Pace Ross, Partner, PricewaterhouseCoopers Malta
    Mr William Spiteri Bailey, Partner, RSM Malta
    Mr Franz R. Wirth, CFO & Company Secretary, Intercomp Group
    At the first meeting of the new Council, Mr Fabio Axisa was elected as President, Mr David Delicata as Vice President, Noel Mizzi as Secretary and Mr Franz R. Wirth as Treasurer.
  • 4 Aug 2020 09:56 | Anonymous
    The Malta Institute of Accountants took part in the 2020 edition of the iChoose Careers Fair to introduce Form V students to the world of the accounting profession. Organised by the Education Ministry, the annual fair gives students a view of the options ahead of them and puts them in touch with the people who can help then start their own career path.
    For more information, click here.

  • 3 Aug 2020 10:56 | Anonymous
    In July 2020 The Malta Institute of accountants has participated in 2 consultation papers: 1) European Commission’s Consultation on the Renewed Sustainable Finance Strategy 2) Malta Gaming Authority's consultation on Suspicious Betting Reporting Requirements & Other Sports Integrity Matters.
    For more information, click here.
  • 3 Aug 2020 10:06 | Anonymous
    In July 2020 the MIA organised the following information sessions:
    1) IDPC Data Protection Q&A Session
    2) MBR BO Forms updates Q&A Session
    For more information, click here.

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