Continuing professional education in Malta : the sole practitioners' perspectives

Abstract

In an increasingly competitive and constantly changing world, life-long learning is necessary for all professionals who want to remain competent in their field. In effect, all local warrant holders who are actively working in the accounting profession have to undertake a prescribed amount of CPE each year. The objective of this dissertation was to understand the perceptions of local sole practitioners regarding the current mandatory CPE system in Malta. Primary data was obtained through the use of an online questionnaire which was distributed to the local sole practitioners whose email address was available on the MIA Members' Directory 2005. Secondary data was gathered from various sources of literature, mainly from websites made available by accounting institutes. The research showed that most of the local sole practitioners acknowledge the value of CPE and they recognize that continuing education is essential to remain professionally competent. Furthermore, in general, participants reported that they have reaped several benefits from mandatory CPE and they indicated relatively high levels of satisfaction with current CPE activities. It is evident, from this research, that CPE is essential for the accountancy profession in order to continue to meet the demands of an increasingly demanding community. With a few adjustments in the local CPE system, continuing education can play a significant role in enhancing the quality of accounting and auditing services provided.