The Malta Institute of Accountants has signed a Protocol of Cooperation with the Institute of Certified Public Accountants of Cyprus, forging a new alliance that promotes the interests of respective members.

The agreement provides new opportunities for training and development in a range of technical matters. The two bodies will form an educational and research partnership to support professionals in both countries.

"Malta and Cyprus have similar and unique circumstances that this cooperation exercise intends to harvest and promote," said Institute CEO Maria Cauchi Delia. The two island states are not, however, identical, and Cauchi Delia explained that the contrasts will be leveraged to encourage innovation in the profession.

Through the protocol, the MIA and ICPAC will collaborate on educational events as well as scientific and technical training activities in the areas of primary interest, such as audit, IFRS, anti-money laundering, corporate reporting, technology and regulatory compliance.

The agreement will facilitate participation in research and development programmes on local and international level and allow a healthy exchange of information and expertise. Professionals will benefit from knowledge transfer and sharing of best practices to overcome common challenges.

The protocol with ICPAC represents an important stage in the Malta Institute of Accountant's plan to develop strategic relationships with international stakeholders.

The Malta Institute of Accountants is the voice of the accountancy profession in Malta, providing professional guidance, technical support and continuing professional education to over 3,000 accountants.

The MIA is committed to attracting talented individuals to the profession and invests heavily in the process of educating prospective accountants.

The Institute also helps to promote a proper understanding of the role and the value of the accountancy profession to the Maltese public in general and, in particular, to the local business community.

The MIA forms part of leading international accounting organisations and it represents Maltese accountants in these prestigious fora.

The Institute works to ensure that professional standards and ethics applied locally in accountancy meet the requirements of international regulatory bodies, and it actively works to uphold the reputation of the profession both locally and overseas.