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

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.