Frequent resignations among accountants and a lack of professional support have led to delays in financial reporting for the Sugar Industry Tribunal, as revealed during a recent hearing by the Standing Committee on Public Accounts. Timothy Brown, the Tribunal’s industrial commissioner and registrar, disclosed that since 2016, the organization has faced challenges in submitting its financial accounts on time due to consistent turnover among accountants.
Brown noted that the Tribunal had “one accountant after another” leave, leading to disruptions as each incoming accountant needed time to familiarize themselves with the system. The main reasons for the high turnover included better-paying opportunities and health-related issues, with the average annual salary for accountants at around $20,000. Additionally, insufficient funding has inhibited the Tribunal’s ability to engage the necessary professional support to stabilize its financial operations.
The Sugar Industry Tribunal, established under the Sugar Industry Act of 1984, plays a vital role in managing contractual relations and resolving disputes between farmers and the Fiji Sugar Corporation. With ongoing challenges in the sugar sector, Brown expressed a commitment to rectifying these issues to ensure timely and accurate financial accounts.
The situation reflects broader challenges within the sugar industry, which is currently grappling with declining cane production, reduced farmer engagement, and financial instability. Previous reports from parliamentary discussions have highlighted the importance of addressing these underlying issues, including the lack of strategic planning and performance indicators for various sectors within the industry.
Despite these setbacks, there is hope for improvement. By prioritizing financial stability and accountability, the Sugar Industry Tribunal can work towards not only resolving its immediate reporting issues but also contributing to the long-term health of the sugar sector in Fiji. Enhanced professional support and better compensation structures may encourage retention among accountants and create a more stable financial oversight environment, ultimately benefiting the industry as a whole.
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