The Council of the Malta Institute of Accountants appointed Fabio Axisa as its new president for the term July-June 2020. The election was held during the Institute's 55th Annual General Meeting on 11 July.

Axisa thanked outgoing president William Spiteri Bailey for leading the accountancy profession through challenging times in the past two terms. "First of all, congratulations and sincere gratitude to the outgoing president for the significant work carried out. William was instrumental in many areas considering the pressures and challenges faced by the profession."

The new president said that he will focus on consolidating the MIA's role, stature and relevance with a long-term view. "We will continue to build on the work carried out by subsequent MIA presidents throughout the recent years. Gone are the days when strategy and direction are modified every two years as soon as a new president is elected," explained Axisa, who served as vice-president in the last two terms.

The new president highlighted five core pillars underpinning the MIA's strategy in the coming years:

1.         Ensuring the MIA is home to all qualified accountants, 

2.         Elevating quality within the profession,

3.         Working with all stakeholders to enhance the education and qualification process,  

4.         Fostering collegiality and comradeship among accountants, and

5.         Striving to make the Institute's voice heard, loud and clear, on issues which are important for the profession but also on national strategic issues. 

Axisa said that the Institute belongs to all accountants and called for broader representation of those qualified and operating as accountants in the Maltese jurisdiction. "We want to continue conveying this message in a strong manner; the Institute is not a club solely for the largest firms. But only fully qualified accountants should be considered as and actually call themselves accountants."

The MIA has a duty to keep raising the quality of accountancy and the president warned that the profession is constantly "under the spotlight". "As an Institute we will continue working with the regulator to push higher up the bar, as we need to strive to do the right thing professionally in all circumstances, even if this entails a cost."

The Institute will continue to strengthen its efforts in the areas of education and qualification processes. The president acknowledges that the quality and quantity of accountants in the marketplace is a fundamental aspect for the profession.

At the same time, the MIA will dedicate more time and effort to reinforcing a sense of collegiality and comradeship among accountants. "In this area we need to function better as one profession," commented Axisa. 

The profession has a big role to play nationally and the new president said he is committed to continue investing to give the Institute an influential voice on issues of strategic importance. "We have taken a number of initiatives in this area in the past few years; but the Institute is expected to pursue in and indeed enhance its input and interaction with the relevant stakeholders."

Outgoing president Spiteri Bailey presented the Council Report for the year 2018-2019. He outlined the main work carried out by the Institute, particularly in the areas of technical and educational support to members as well as collaboration with local and international partners. Spiteri Bailey described how the MIA took concrete steps not only to be closer to its members, but to reach out to a wider and more varied audience too. 

Among the main activities and events in the last year were the Biennial Conference, the Accountancy Profession Strategic Forum for international stakeholders, a Protocol of Cooperation signed with the MIA's counterpart in Cyprus and the presentation of findings of the study in Gender Pay Gap within the accounting profession.

The Institute welcomed its new Council members, elected on a two-year term: Christian Gravina, Etienne Borg Cardona, Franz R. Wirth, Lucienne Pace Ross, Mark Bugeja, Noel Mizzi and William Spiteri Bailey. These joined Annabel Zammit Pace, Christopher Balzan, David Delicata, Fabio Axisa, Ivan Grixti, Jonathan Dingli and Shawn Falzon who are serving their term on the Council, ending in mid-2020.