Companies to Watch: Malta Institute of Accountants gears up for a game-changing year as legislative changes reshape the profession

Recent years have seen the Malta Institute of Accountants (MIA) help shape the evolution of accountancy, cementing its role as a respected and trusted stakeholder representative of the profession. At its helm is CEO Maria Cauchi Delia who, throughout her tenure, has seen the Institute grow into an important partner that is actively engaged in shaping the regulatory landscape, addressing global developments that continue to impact the profession and beyond.

“Over the years, we have built a strong reputation with our stand on issues such as the fight against financial crime, the prioritisation of sustainable finance, digitalisation and upskilling, as well as transparency and ethics, which are reshaping not just our profession, but also the wider financial services industry and the broader economy,” Maria starts off.

Now, the profession is geared for a slew of new legislation and standards that are emerging at a rapid pace. The extent of implementation of the EU Sustainable Finance Framework will be a gamechanger, alongside expected developments within Malta’s corporate tax system, making the Institute’s role even more invaluable.

“All these developments undoubtedly require proactive engagement and adaptability from the profession, and the Institute operates an all-hands-on-deck approach to ensure that this happens. We have also increased our presence in international fora, giving us direct insights into upcoming changes and key developments within the accountancy profession, while exchanging views with representatives of other jurisdictions. This, in turn, allows us to brief the relevant stakeholders enhancing preparedness across the board,” the CEO explains.

The Institute is in a position to fulfil this thanks to what Maria describes as a balanced combination of long-term planning and agile responsiveness to current happenings.

“The Institute’s prominent role and respect on a national level stem from years of sustained contributions to Malta’s evolving economic and regulatory landscape.  If I were to pin-point a key juncture in this development, I would say it is the instrumental role we played during Malta’s grey-listing period,” she muses.

Indeed, the Institute emerged as a proactive contributor to the work carried out by the National Coordinating Committee on Combating Money Laundering & Funding of Terrorism (NCC), which is the entity tasked with the general oversight of Anti-Money Laundering/Combating of Funding of Terrorism policy. This experience, the CEO believes, continued to reinforce the Institute’s position as a key stakeholder in shaping national policies.

“Building on this, the Institute is an active participant on the Malta Financial Services Advisory Council, contributing to the development of a forward-looking strategy for Malta’s financial sector. We constantly engage with the relevant authorities, in our role as a bridge with our membership base.”

In addition to strategic foresight, the MIA’s ability to respond swiftly to emerging developments has been equally critical. Last year alone, the Institute addressed 34 consultations issued by bodies such as the EU, the Maltese Government, and international standard-setters. These consultations, alongside other initiatives, cover areas such as changes to legislation, policies, rules and regulations, and ethical considerations.

“This agility is supported by the dedication of more than 160 volunteer members who actively contribute to 13 committees, focus groups, and 20 working groups. Their efforts have significantly bolstered the Institute’s ability to drive the growth of the profession and the wider industry,” Maria elaborates.

And of course, there’s also the regular order of events hosted by the Institute, with the Biennial Conference taking place later this year, other flagship annual conferences, CPE events, and networking events.

The past year has seen the Institute focusing on three interconnected challenges that are redefining the local business environment: enabling sustainability, harnessing technological advancements, and enhancing competitiveness. Rather than peripheral concerns, Maria and her team approach these as fundamental shifts that influence how organisations operate and succeed in today’s economy.

“Sustainability is driving businesses to adapt to new regulations, consumer expectations, and societal demands. The Institute has embraced this by equipping its members with the skills and knowledge to lead in this area, recognising the pivotal role accountants play in advancing sustainable practices,” she states.

Meanwhile, technological transformation continues to reshape the industry, introducing both challenges and opportunities. From integrating digital finance to understanding blockchain and AI, the profession is in a constant state of change, as technology develops at an unprecedented pace. Thus, one of the priorities identified by the Institute for 2025 is to prepare its members to adapt and thrive, ensuring they remain at the forefront of innovation.

Other priorities centre around enhancing competitiveness – a concept that’s at the core of all the Institute’s proposals – while ensuring that the talent pool continues to grow alongside the demands of the market.

“There’s a need for continued investment in the next generation of accountants to ensure the profession remains dynamic, diverse, and ready for the future. Through the #AccountsForYou campaign, the MIA is working to inspire new students to pursue accountancy, while ensuring those already enrolled remain engaged. Yet, this is not enough to cope with demand – strategic decisions at a national level are required, and the Institute is actively contributing to the debate on labour migration and is preparing its feedback to recently launched proposals on the matter,” Maria emphasises.

We are committed to preparing the next generation of accountants with the skills to thrive in an era defined by technology and heightened scrutiny on transparency and sustainability. Ultimately, the Institute’s role is about leadership – whether it’s advocating for sound policies, providing world-class training, or equipping our members to lead their organisations towards growth,” the CEO concludes.

This interview forms part of the Companies to Watch in 2025, a business serialisation of BusinessNow.mt, Malta’s fastest-growing, cutting-edge business news portal, aimed at companies achieving their goals, marking important milestones, or planning to announce major business news.

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