In­ter­na­tional ap­point­ment of MIA members on IFAC’s PAIB & SMP com­mit­tees

The Malta Business Weekly - - FRONT PAGE -

Wil­liam Spiteri Bai­ley has been ap­pointed as mem­ber of the Small and Medium Prac­tices com­mit­tee and Stephen L. Mus­cat as mem­ber of the Pro­fes­sional Ac­coun­tants in Busi­ness com­mit­tee.

Their ap­point­ment is for a twoyear term which com­men­cies on 1 Jan­uary and was ap­proved fol­low­ing their nom­i­na­tion by the Malta In­sti­tute of Ac­coun­tants, as mem­ber of the In­ter­na­tional Fed­er­a­tion of Ac­coun­tants, in a re­sponse to a call by the IFAC for the ap­point­ment of members to the said com­mit­tees.

Spiteri Bai­ley is the pres­i­dent of the Malta In­sti­tute of Ac­coun­tants and presently chair­man of the SMP com­mit­tee within the MIA, mem­ber of the Ac­coun­tancy Europe SME Fo­rum and tech­ni­cal ad­vi­sor to the IFAC SMP com­mit­tee for the past three years. Mus­cat is the chair­man of the Pro­fes­sional Ac­coun­tants in Busi­ness com- mit­tee within the MIA.

IFAC sup­ports SMPs through a num­ber of ini­tia­tives to raise the pro­file and build their ca­pac­ity glob­ally. With in­put and guid­ance from the SMP com­mit­tee, IFAC rep­re­sents SMPs’ in­ter­ests to stan­dard set­ters and reg­ula- tors, fa­cil­i­tates the shar­ing of tools and re­sources to help them com­pete in the global mar­ket­place and speaks out to raise aware­ness of their role and value, es­pe­cially in sup­port­ing SMEs and the im­por­tance of the small busi­ness sec­tor over­all.

IFAC’s PAIB com­mit­tee pro­vides lead­er­ship and guid­ance on rel­e­vant is­sues per­tain­ing to pro­fes­sional ac­coun­tants in busi­ness and the busi­ness en­vi­ron­ments in which they work. The PAIB com­mit­tee fo­cuses on mul­ti­ple topic ar­eas: the roles, do­main and com­pe­ten­cies of ac­coun­tants in busi­ness; gov­er­nance and ethics; sus­tain­abil­ity and cor­po­rate re­spon­si­bil­ity; risk man­age­ment and con­trol; fi­nan­cial and per­for­mance man­age­ment and busi­ness re­port­ing.

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