Accountants are pivotal in driving economic progress in Fiji, as they uphold financial integrity and bolster good governance, which is essential for maintaining public trust. This observation was made 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 highlighted the crucial role accountants play in assisting micro, small, and medium enterprises (MSMEs) and cooperatives to remain compliant with regulatory requirements. This compliance is vital for enhancing their operational efficiency, particularly in terms of tax planning. He emphasized that accountants help these businesses understand and navigate the complexities of tax laws, thereby avoiding penalties associated with non-compliance.
In today’s digital landscape, the Deputy Prime Minister stressed the importance of continuous learning and technology proficiency for accountants. He pointed out that advancements in technology are supportive tools rather than replacements for accounting professionals. Staying current with advanced accounting software, data analytical tools, and cybersecurity practices is essential for accountants to provide accurate and timely information to their clients. The experiences from COVID-19 highlighted the need for the accounting profession to adapt rather than fear replacement.
Mr. Kamikamica further noted the significance of providing affordable accounting services to MSMEs and cooperatives, asserting that accountants play a crucial role in fostering their growth and driving the economy toward greater vibrancy. Their expertise enables these businesses to navigate financial intricacies, ultimately enhancing their chances of success and sustainability in a competitive marketplace.
This event serves as a reminder of the vital contributions of accountants in empowering businesses, particularly during challenging times. Their role is not only about managing numbers but also about fostering growth and stability in the broader economy.
In a broader context, this underscores the growing recognition of accountants as integral partners in the success of businesses, especially in developing economies like Fiji. As they harness technology and enhance their skills, accountants can significantly contribute to building a resilient and prosperous future.
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