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Different exercises were taking place, some public others not, the head of the accountancy regulator said when asked about apparent inaction against financial advisory firm Nexia BT. The Accountancy Board has been accused by MEP David Casa of dereliction of dWatch: Accountancy Board head cagey when asked about Nexia BT
Different exercises were taking place, some public others not, the head of the accountancy regulator said when asked about apparent inaction against financial advisory firm Nexia BT. The Accountancy Board has been accused by MEP David Casa of dereliction of duty in the face of multiple reports of wrong-doing by Nexia BT, which had opened secretive structures for two top government officials. Accountancy Board chairman Peter Baldacchino said the regulator could not publicise its every move. “We move consistently with what we have done in the past, that is all I can tell you,” he added. Speaking in general terms without reference to Nexia BT, Dr Baldacchino said the board had always taken action when needed. The Accountancy Board said in the past it would await the outcome of criminal inquiries before taking any action against Nexia BT and its partners, Brian Tonna and Karl Cini. Both men resigned from the Malta Institute of Accountants last year after it was made known they would face disciplinary action in the wake of the Panama Papers scandal. When it was put to Dr Baldacchino that his board had chosen to defer action pending the inquiries, he said there were different... Read more