The changing role of the Maltese accounting professional : a forty year comparison

Abstract

The aim of this study is to assess how the role of the Maltese accounting professional has been changing in the recent past and the importance of accounting education in developing prospective professional accountants who are ready to face the ever-changing accounting environment. From the survey carried out it was found that the three main worldwide developments, namely globalization, information technology and investors power, have changed the work of the local accountant during these last forty years. Today, the local accountant is not expected to prepare historic information but is expected to use his knowledge and experience to predict the future, aid in decision-making and provide consultancy on a wide range of issues. Obviously education has an important role in developing accountants who are relevant to the business community. Accounting education should be in line with the current challenges imposed upon accountants and therefore changes in this area should be continuous. The study concludes by presenting a summary of what is expected from today's Maltese accounting professional together with a number of recommendations for further research in this area.