Accountant and accountancy : analysis of significance and meaning

Abstract

Purpose: The objective of this study is to find out and compare perceptions about the meaning and significance of the terms 'accountant' and 'accountancy services' by warrant holders with those of jurors themselves in Malta. Design: The objective is achieved by considering how the terms are included in the law, how they are applied in practice, the threats of improperly using the terms and how the terms may be protected in society's interest. An online questionnaire was completed by 120 warrant holders and 120 questionnaires were delivered randomly by hand to jurors. Findings: The study finds substantial divergences in the perceptions of the two respondent groups, particularly in the areas of defining and identifying accountants, accountants' duty to society, trust in accountants, accountancy services and why unqualified accountants are a threat. In addition, the accountant is held in high regard. Furthermore, personality and technical traits are more important than regulatory traits when identifying an accountant. Conclusions: This study concludes that misconceptions still exist with regards to what is meant by the two terms analysed. These, are creating ambiguity and leading to the emergence of accountancy with a new face which however is as yet not fulfilling all the requirements of a profession. Therefore, the need for enhanced protection is felt by accountants, clients and other interested parties who together have to seek agreement and compromise to identify a common solution. Value: Given the improper use of the terms related to the accountancy profession and the lack of a proper definition for the profession and clients to use, it is imperative that the perceptions are understood. This understanding enables the creation of a clear definition for a