/library/oar/handle/123456789/7917 2025-12-25T07:07:49Z /library/oar/handle/123456789/140810 Title: Index linked bonds and their applicability in Malta Abstract: [...] Objectives: The objective of this dissertation is to study the nature of ILBs, their main advantages and disadvantages and to determine their suitability in Malta. The key research questions that this dissertation aims to solve are: 1. How do ILBs function? 2. What are the advantages and disadvantages of ILBs for the issuer, investor and policymaker? 3. How reliable is the Retail Price Index (RPI) as a benchmark for ILBs? 4. How far are ILBs applicable to Malta? Limitations: This dissertation is based on information available up to 31st December 1997. An outline of the calculation of coupon payments and the redemption payment of Capital Indexed Bonds will be given, but this study will be limited as to the detail on the calculation of other types of ILBs. The detail as to the calculation of the inflation expectations and all the related formulae will not be dealt with in this dissertation. The taxation implications of these investments are also beyond the scope of this study. Dissertation overview: as shown in figure 1.1 on page 6, the study is structured as follows. The review of literature is divided into two chapters: - Chapter 2 deals with nature, characteristics and mechanism of ILBs. It also highlights the differences between conventional bonds and ILBs. - Chapter 3 poses the advantages and disadvantages of ILBs to the issuer, investors and policymakers. The methodology used for the research will be dealt with in Chapter 4. The research process and the structure of the various interviews held will be explained. Chapter 5 analyses the inflationary situation in Malta, the mechanism and composition of the RPI, its main limitations and their effect on indexed bonds. Chapter 6 discussed and applies the findings obtained from the interviews held. At the outset the chapter delineates the major investment preferences of the local investors and the possible reasons for their choices. The chapter then proceeds to view and discuss the opinions of the interviewees about the various questions that were asked during the Institutional Survey. Chapter 7 offers a summary and some concluding remarks including a number of recommendations. Description: B.ACCTY.(HONS) 1998-01-01T00:00:00Z /library/oar/handle/123456789/139762 Title: An analysis of the FIAU implementing procedures for accountants and auditors in local audit firms Abstract: Purpose: This study investigates the impact of the Implementing Procedures Part II for Accountants and Auditors (IPAA), issued by the Financial Intelligence Analysis Unit, on audit firms in Malta. It seeks to explore whether the IPAA introduced new compliance expectations or merely reiterated existing obligations, and to assess its influence on firms’ AML frameworks and engagement procedures. Design: The research adopts a qualitative methodology based on twelve semi- structured interviews with representatives of local audit firms and relevant industry entities. The interview process was designed to capture practical insights from professionals and compare through thematic analysis. Findings: The findings reveal that while audit firms were largely compliant with existing AML obligations prior to the IPAA, it clarified certain grey areas and helped standardise interpretation across the profession. However, recurring ambiguities remain, particularly concerning the classification of relevant activities and risk assessment for audit-specific services, suggesting that future updates to the IPAA would further enhance its utility. Conclusions: The IPAA played a clarifying role rather than a transformative one. Despite its supplementary nature, it was widely regarded as a beneficial tool for audit firms. Its effectiveness, however, depends on continuous guidance from the FIAU and regular engagement with practitioners to ensure practical alignment. Implications/Value: This study contributes to the academic and professional understanding of regulatory implementation within the auditing sector. It underscores the value of targeted guidance documents and highlights the importance of sustained dialogue between regulators and subject persons. Description: M. Accty.(Melit.) 2025-01-01T00:00:00Z /library/oar/handle/123456789/139752 Title: A comparative study of female accountants' career progression in the public vs private sector Abstract: Purpose: This study explores the factors influencing the career progression of female accountants in Malta, with a comparative lens on the public and private sectors. It aims to understand how gendered expectations, organisational practices and sector-specific dynamics affect women's professional development and leadership opportunities in the accounting profession. Design: A qualitative research approach was adopted, involving semi-structured interviews with female accountants working in both sectors. Findings: This research identified several key factors influencing the career progression of female accountants. Across both sectors, personal resilience and ambition played a major role. In the public sector, participants highlighted the benefits of structured progression and job security, though opportunities for advancement were perceived as limited and slow. In contrast, the private sector offered more dynamic career prospects but was often shaped by informal networks and less supportive policies, creating challenges for women balancing career and family responsibilities. Organisational policies and informal networks were found to be influential yet inconsistently applied across sectors. Conclusions: The study concludes that although progress has been made, systemic barriers and sectoral discrepancies still hinder equal career advancement for women. Female accountants in the private sector often face more intense expectations and limited support, whereas the public sector, while more accommodating, presents slower progression pathways. Value: This research addresses a critical gap in the literature by offering a unique sector-specific perspective on gender disparities in the accounting profession through a comparative examination of female career progression in Malta’s public and private sectors. The insights generated are not only academically significant but also practically valuable for policymakers, educators and organisations seeking to foster gender equity and fully leverage female talent in the profession. Description: M. Accty.(Melit.) 2025-01-01T00:00:00Z /library/oar/handle/123456789/139749 Title: ESG in the accounting curriculum : a comparative study between Malta and the UK Abstract: PURPOSE: The incorporation of Environmental, Social, and Governance (ESG) factors into accounting education has become increasingly important worldwide due to rising demands for sustainable company practices. This study aims to primarily determine necessary ESG skills for inclusion in the accounting curriculum and compare them with those in UK universities. Secondly, it examines the approaches adopted by Maltese educators and contrasts them with those adopted by their UK counterparts. Finally, it explores the challenges faced and assesses differences in pedagogical resources across both contexts. DESIGN: To address these objectives, this research employs a qualitative comparative case study methodology. The primary data source comprises eleven semi-structured interviews with accounting academics and programme coordinators from higher education institutions in the UK and Malta. A preliminary analysis of course content was also carried out during the early phase to guide the interview design and contextual understanding. FINDINGS: The study revealed diverse strategies concerning ESG education in Malta and the UK. UK educators highlighted critical thinking and curriculum-wide integration, whilst Maltese academics supported a dual strategy, combining a standalone ESG module with integrated content. Common challenges included inadequate funding, gaps in faculty expertise, limited resources and the changing nature of ESG frameworks. The findings indicate the need for clearer guidance and increased institutional support to improve ESG integration in accounting education. CONCLUSION: The study underscores the increasing relevance of ESG within accounting education and the increasing necessity for coherent, systematic curriculum development. Although no singular method may be applicable to all institutions, integrating ESG principles across the accounting curriculum could provide a more uniform framework for cultivating sustainability-related competencies. To prepare students effectively, universities must balance the communication of technical knowledge with leadership, and critical thinking skills. Strengthened collaboration between industry and academia is crucial to addressing existing obstacles and aligning education with the requirements of global sustainability standards. VALUE: This research underlines the importance for more defined national initiatives and collaboration between academics and industry to improve ESG integration in accounting education. It further discusses comparative practices, contributing to the debate on how higher education institutions may equip accounting graduates to address the growing demands of a sustainability-oriented profession. Description: M. Accty.(Melit.) 2025-01-01T00:00:00Z