/library/oar/handle/123456789/109072 2025-12-28T19:58:11Z /library/oar/handle/123456789/128694 Title: Determinants of career specialisation for a professional accountant in Malta Abstract: Purpose: The objective of this study is to explore which determinants influence career specialisation for professional accountants in Malta, and whether a difference in determinants between areas of specialisation (AoS) within the Accountancy Profession (AP) prevails. It also appraises whether specific skills and personality factors make a professional accountant better suited for a given AoS. This research further identifies whether mandatory practising certificates for every AoS could potentially be career determinants which influence the choice of specialisation. Design: In pursuit of the research objectives, a concurrent mixed methodology approach was adopted. An online questionnaire was distributed to professional accountants working within Maltese Professional Service Firms (PSFs). 160 valid responses were obtained. Simultaneously, fifteen semi-structured interviews were conducted with professional accountants specialised in different areas of the AP. Findings: The general consensus was that career determinants do not differ by AoS. Irrespective of the AoS, intrinsic determinants are afforded the most significant weighting in the career decision-making process. Professional accountants in Malta seek fulfilling career paths which allow them to act on their interests. Accordingly, accounting internships can be influential determinants as far as they give students exposure to different AoS, to help them appreciate which AoS bestows more personal meaning to them. Professional accountants in Malta should also have good command of communication skills, time management skills, problem solving skills, critical thinking skills and analytical skills. However, those who specialise in advisory and consulting roles should be more creative, open and enterprising, tax specialists should be more conscientious whereas auditors should be more assertive and investigative. Furthermore, while mandatory practising certificates exclusive to each AoS may benefit the AP, they would not be considered career determinants. Conclusions: ‘Self’ interests and perceptions are conspicuously more influential career determinants than external influences and formal designations. In Malta, it cannot be concluded that there are significant differences in the influence of determinants between AoS. The level of importance attached to intrinsic motivation in career decision-making is further corroborated by the finding that different personality types are suited in different AoS. Therefore, the individual is in the optimal position to decide which activities of the AP are best aligned with his/her interests. Value: This study raises awareness on determinants influencing the specialisation decision of professional accountants in Malta. Prospective accountants and PSFs alike may use the findings to align perspectives regarding the different AoS with their, or their employees’ career intentions. Description: M. Accty.(Melit.) 2023-01-01T00:00:00Z /library/oar/handle/123456789/118607 Title: Malta’s greylisting experience : an analysis of the impact on the financial services industry Abstract: Purpose: This study examines the effects of greylisting on Malta's financial services industry, focusing specifically on the effects on regulators and financial service providers. This study investigates the impact of the 2019 MONEYVAL report, which was critical of Malta's AML/CFT framework, as well as Malta's greylisting and post greylisting phases, to provide a comprehensive assessment of the consequences of greylisting on the financial services sector. Design: A mixed-methods approach was used to collect data for the study, involving surveys and semi-structured interviews with professionals in the field of AML/CFT from various subsectors of the financial services industry, which included banks, financial institutions, company service providers, investment service providers, and legal service providers. The data gathered using these methods is both qualitative and quantitative, creating a solid foundation for the study's findings. Findings: The study concludes that greylisting had substantial and far-reaching effects on Malta's financial services industry. Greylisting caused a shift in regulators' and financial service providers' culture and sensitivity towards AML/CFT compliance, resulting in a chain of subsequent reactions, which include the expansion of compliance departments, modifications to policies and procedures, and investments in technology. In addition, international firms were especially affected by Malta's greylisting, as it hindered their ability to promote the country as a major financial services centre. Conclusion: This study's findings cast light on the significant consequences of greylisting and shed light on the reality of this experience. Value: Considering the fact that the Malta’s greylisting experience was very recent, this dissertation is a pioneer in analyzing the impact of the greylisting on the financial services industry. The findings of this study provide a foundation for future research and insights for policymakers, financial institutions, and regulators seeking to comprehend and address the challenges of greylisting in Malta. Lessons can be learned from the study's findings, which can be applied to other countries that have been or may be greylisted in the future. Description: M. Accty.(Melit.) 2023-01-01T00:00:00Z /library/oar/handle/123456789/118605 Title: The budgetary process underlying the financing of the Ministry for Gozo Abstract: Purpose: The Ministry for Gozo receives an annual financial allocation by the Central Government to be able to operate. This study will identify and analyse the current budgetary process implemented for the Ministry for Gozo at the Central Government level, determining the roles of the actors involved, and analysing trends and changes in the budgeting process. Design: A mixed-method research approach was adopted for this study. Semi structured interviews were carried out with high-ranking officers from the Ministry for Gozo and Budget Affairs' Division. A questionnaire was also distributed to the Directorates within the said Ministry. Findings: A combination of budgeting techniques are utilised by the different Divisions. The main techniques being incremental budgeting, activity-based budgeting, and programme-based budgeting. Zero-based budgeting is also used in certain circumstances. The role of the Ministry for Gozo is to establish the Annual Budget that will be passed to the Budget Affairs Division. The latter will finalise the definitive allocation, which will then be passed to Parliament for approval. The Directorates who forward their proposals to the top management at the Ministry for Gozo are less likely to be consulted during such process. Inflation, COLA, increase in operating costs and capital projects are some of the factors which have contributed to the increase in funds over the years. Conclusion: The Ministry for Gozo should be allowed more flexibility, in a balanced way, to ensure that decisions are taken based on the best interest of the citizens. There should also be more communications between the different levels of the Ministry for Gozo and Central Government. Moreover, training courses to Directorates should be provided to improve the budgets prepared for the proposed projects. Value: This study may deliver value to the Central Government and Ministry for Gozo by suggesting ways on how the process leading up to the financial allocation can be enhanced. Description: M. Accty.(Melit.) 2023-01-01T00:00:00Z /library/oar/handle/123456789/118603 Title: Revisiting the value added statement : its relevance in the Maltese scenario Abstract: PURPOSE: This study sought to revisit the Value Added Statement (VAS), with a particular focus on its relevance in the Maltese context. Accordingly, through an analysis of the various views of local trade union representatives, this study intended to examine the appropriateness of the VAS as a supporting accounting document to the general purpose financial statements within the context of collective bargaining and employee relations. DESIGN: A qualitative research approach was adopted to achieve the dissertation’s objectives. Following an analysis of the existing literature, six semi-structured interviews were conducted with local trade union representatives who are professionally employed with their respective union, and which in turn are affiliated with the Confederation of Malta Trade Unions. FINDINGS: The findings initially suggest that no performance metric is deemed superior to the other, particularly because their specific use is dependent on a number of factors. It was also established that the use of a VAS alone may not necessarily enhance productivity and employee motivation, but is perceived to be effective when utilised in the collective bargaining process. This study also revealed that the VAS may be better suited to assist in the development of incentive schemes rather than that of the annual remuneration. Nevertheless, findings suggest that a set of adequate standards and a consistent framework must be established in order to enhance the credibility of value added figures, especially when in pursuit of comprehensive integrated reporting. In addition, it was established that the local application of a VAS may be better suited in the private sector. Furthermore, it was suggested that the VAS may also be a valuable internal reporting tool. CONCLUSIONS: Nowadays, the purpose of financial reporting is more focused on conveying the holistic outcome. As a result, this study concludes that the local disclosure of the VAS could be valuable in enhancing collective bargaining and employee relations. However, it is imperative that emphasis is placed on the development of appropriate standardisation and the necessary education, in order to further appreciate the document’s potential usefulness in Malta. VALUE: This study contributes to raising awareness about the VAS’s potential relevance in the Maltese context. Moreover, this study is expected to be of great value to local trade unions and employee representatives. Description: M. Accty.(Melit.) 2023-01-01T00:00:00Z