In all 77 Certified Public Accountant (CPA) warrants and Practising Certificates in Auditing (PCA) were presented by Finance Minister Prof. Edward Scicluna during a ceremony held at the Ministry offices in Valletta.
Speaking during the ceremony, Prof. Scicluna noted that those receiving their warrants will progress along a path that will see them developing as professionals in one of two directions; some will join financial services regulatory bodies, while most others will join the financial practitioners.
“Notwithstanding the path you take, you will come face to face with the legacy that the financial crisis left us with: more financial regulation and more compliance,” said Prof. Scicluna.
He noted that during his mandate as a Maltese European Member of Parliament and Vice-Chair of the European Parliament’s Economic and Monetary Affairs Committee, he worked on European legislation intended specifically to ensure that the financial crisis does not repeat itself.
“You are joining your respective professions at a time when the landscape is shifting after a massive financial crisis. As a result, we have today more enhanced European regulations to govern financial institutions. This is so that we can ensure that these remain accountable and transparent.”
He also noted that in recent days, he had the opportunity to present the second reading of the Fiscal Responsibility Bill in Parliament. He explained that this bill will place certain regulatory requirements on all current and future Maltese governments to keep public finances on track in an accountable and transparent manner.
He noted that the Fiscal Council, which this bill would bring into being, would also be tasked with making regular appraisals and recommendations to government regarding public finances.
A total of 77 Certified Public Accountant (CPA) warrants and Practising Certificates in Auditing (PCA) were handed out during the ceremony. 45 Accountants received the CPA warrant, 25 received both the CPA warrant and the Practising Certificate in Auditing, while a further seven received the Practising Certificate in Auditing.