Minister for Finance, Prof. Edward Scicluna said the accountancy profession forms the backbone of the skill-set provided by the Maltese workforce and contributes to the attractiveness of the local financial sector for foreign investment.

PRESS RELEASE ISSUED BY THE MINISTRY FOR FINANCE

While speaking recently during the award-giving ceremony for new Certified Public Accountants, Minister Scicluna stated that the recipients of the warrant now had great responsibilities in that the public trusted them to carry out their work in the utmost good faith, with professionalism and integrity. He also spoke about the recent development in the sector with the publishing of the Single Accounting Directive published in 2013, which seeks to simplify the preparation of financial statements, reduce burdens on small companies and improve comparability of financial statements.

The Minister also spoke about the transposition of EU legislation which will enhance the transparency of companies’ financial information, and give auditors a strong mandate to be independent and to exert professional skepticism regarding the management of the audited company.

A total of 162 Certified Public Accountant (CPA) warrants and Practising Certificates in Auditing (PCA) were handed out during this ceremony. 101 Accountants received the CPA warrant, 58 received both the CPA warrant and the Practising Certificate in Auditing, while a further three who had already received the CPA warrant received the Practising Certificate in Auditing.

Wednesday 3rd August 2016