Accountants are crucial to the economic growth of Fiji, ensuring financial integrity and supporting strong governance, which is essential for maintaining public trust. This perspective was shared by Deputy Prime Minister and Minister for Trade Manoa Kamikamica during the 52nd International Accounting Day event in Suva, organized by the Fiji Institute of Chartered Accountants (FICA).
Mr. Kamikamica highlighted the vital services accountants provide to Micro, Small, and Medium Enterprises (MSMEs) and Co-operatives, which help them adhere to regulatory requirements and improve their operational efficiency. He underscored the importance of tax planning, enabling these businesses to navigate the intricate landscape of tax legislation while avoiding penalties related to non-compliance. Ensuring tax compliance is crucial for MSMEs and Co-operatives looking to secure financial support.
In today’s digital environment, Mr. Kamikamica noted the necessity for accountants to engage in continuous learning, adopt technological advancements, and become proficient service providers. He emphasized that technology serves as a support tool rather than a replacement for accountants, urging them to stay updated with the latest accounting software, data analytics tools, and cybersecurity practices. His remarks reference the adaptability witnessed during the COVID-19 pandemic, reinforcing the idea that professionals should focus on evolving rather than being replaced.
Mr. Kamikamica stressed the importance of offering affordable accounting and financial services to MSMEs and Co-operatives, as their growth directly contributes to a robust economy. He concluded by recognizing the crucial role accountants play in helping these businesses navigate financial challenges, thereby enhancing their chances of success and sustainability in the marketplace.
The insights shared during the event underscore not only the evolving landscape of accounting but also the collaborative effort needed to empower local businesses, fostering an environment of growth and resilience in Fiji’s economy.
Summary: Accountants are vital to Fiji’s economic development, ensuring compliance and operational efficiency in MSMEs and Co-operatives. Deputy Prime Minister Manoa Kamikamica highlights the need for continuous learning and technology adaptation among accountants, emphasizing their role in providing affordable services that contribute to a thriving economy.
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