Accountancy Profession Act (Cap. 281), article 3

3. (1) Except where otherwise prescribed in regulations made by the Minister under this Act , no person shall practise the profession of accountant unless he is a warrant holder. (2) A person shall not qualify for a warrant under article 4 unless - (a) he is of good conduct and repute; (b) he is of full legal capacity; (c) he has: (i) successfully completed the course leading to the award of the professional accountancy degree organized by the University of Malta; or (ii) attained university entrance or equivalent level, then completed a course of theoretical instruction recognised by the Board: Provided that in every case the courses referred to in this subarticle shall cover such subjects at such levels as may be prescribed i n regulations made by the Minister under this Act; (d) unless covered in the courses referred to in paragraph (c), he has passed an examination, part or all of which must be in writing, of professional competence of University final or equivalent examination level, recognised or set by the Board for that purpose: Provided that the Board shall ensure that in the case of an application for a practising certificate in the field of auditing the examination of professional competence referred to in this subarticle adequately covers the necessary level of theoretical knowledge of the subjects prescribed in regulations made by the Minister under this Act relevant to auditing as well as the ability to apply such knowledge in practice: Provided further that where a person has completed a course of theoretical instruction and passed an ACCOUNTANCY PROFESSION [CAP. 281. 5 examination of professional competence of university final or equivalent examination level relating to the accountancy profession and recognised by the Board but which did not cover all of the subjects prescribed in regulations made by the Minister under this Act, the Board may accept such qualification after such person shall have passed such examination or examinations in local laws and in those other subjects as the Board may determine according to the particular circumstances; and (e) he satisfies the Board that he has adequate experience in the practice of accountancy for an aggregate period of three years, of which an equivalent of at least one year’s experience shall be gained after he has obtained the academic qualifications stipulated in paragraph (c). (3) Notwithstanding the provisions of subarticle (2), the Board may issue, to any person who is duly qualified to act as accoun tant in any third-country, a warrant to act as accountant in Malta f or such limited period or periods or such specific purpose or purp oses, or both such period and purpose, and subject to such other conditions as may be specified in the warrant. (4) Any person who acts in contravention of any of the provisions of this article shall be guilty of an offence and sh all be liable on conviction for each offence, in respect of the first offence to a fine ( multa ) not exceeding one thousand and two hundred euro (€1,200.00) and in respect of a second or subsequent offence to a fine ( multa ) not exceeding six thousand euro (€6,000.00) or to imprisonment for a period not exceeding six months, or to both such fine and imprisonment, and in the case of a continuing offence to an additional fine ( multa ) not exceeding one hundred and twenty euro (€120.00) for each day during which the offence continues. (5) Any person who, for the purpose of obtaining a warrant or practising certificate under this Act, gives any wrong informat ion or otherwise acts in a deceitful or fraudulent manner, shall be guilty of an offence and shall be liable on conviction for each offenc e to a fine ( multa ) not exceeding twelve thousand euro (€12,000.00) or to imprisonment not exceeding twelve months or to both such fine a nd imprisonment. (6) Any person who, not being a warrant holder or a holder of a practising certificate in the field of auditing issued under th is Act, assumes the title or designation of "certified public accountan t" or of "certified public accountant and auditor" or their abbreviat ions "CPA" or "CPAA" or in any other manner indicates that he is entitled to exercise the profession of accountant or to act as auditor in Malta, shall be guilty of an offence and shall be liable on conviction for each offence to a fine (multa ) not exceeding two thousand and three hundred euro (2,300.00) and in respect of a second or subsequent offence to imprisonment for a period not exceeding three months or to both such fine and imprisonment. 6 CAP. 281.] ACCOUNTANCY PROFESSION Warrant to practice as accountant. Amended by: XXXIV . 1986.3; XVI. 1991. 3. Substituted by: XIV . 2003.4. Amended by: IX. 2008.49; XXXVI. 2016.4; XXI of 2020.