Accountants are pivotal to the economic development of Fiji, as they uphold financial integrity and encourage good governance, essential for maintaining public trust. This was highlighted by Deputy Prime Minister and Minister for Trade Manoa Kamikamica during the 52nd International Accounting Day celebration held in Suva, organized by the Fiji Institute of Chartered Accountants (FICA).
Mr. Kamikamica emphasized that the services accountants provide are crucial for Micro, Small, and Medium Enterprises (MSMEs) and co-operatives, enabling them to remain compliant with regulatory frameworks while improving their operational efficiencies in areas such as tax planning. This assistance helps businesses navigate the complexities of tax laws and avoid the risks of penalties associated with non-compliance, thus ensuring that any MSMEs and co-operatives seeking financial support are tax compliant.
He also pointed out the necessity for accountants to embrace continuous learning and technological proficiency in today’s rapidly evolving digital landscape. Citing research, he affirmed that while technology will transform the profession, it will not eliminate the need for accountants. It is essential for them to stay abreast of advanced accounting software, data analytical tools, and cybersecurity protocols to provide clients with precise and current information. The COVID-19 pandemic underscored the need for professionals to adapt rather than fear replacement by technology.
Moreover, the Deputy Prime Minister stressed the importance of providing affordable accounting services to MSMEs and co-operatives, as this support plays a crucial role in their growth and, in turn, contributes to a more robust economy. The expertise of accountants not only aids these businesses in navigating financial challenges but also enhances their chances of success and sustainability within the competitive marketplace.
In conclusion, the vital role of accountants in Fiji underscores the interconnectedness of financial expertise and economic growth, paving the way for a brighter and more prosperous future for the nation as initiatives continue to support and uplift small to medium enterprises.
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