The South Pacific Stock Exchange (SPX) has partnered with the Fiji Institute of Chartered Accountants (FICA) by signing a Memorandum of Understanding (MOU), aiming to enhance capital markets through strategic collaboration. This significant agreement highlights the vital partnership between capital markets and accounting professionals, emphasizing the importance of effective corporate reporting, transparency, and investor confidence.
The MOU lays a foundation for joint efforts between SPX and FICA to elevate financial disclosure standards, bolster corporate governance, and advance sustainability reporting. Both organizations are committed to advocating for gender equality, supporting small and medium-sized enterprises (SMEs), and promoting entrepreneurship. This recognition of capital markets as a driving force for inclusive economic growth reflects a holistic approach to financial development in the region.
As part of this new collaboration, SPX plans to lead investment and capital-raising awareness programs tailored for FICA members, which will empower accounting professionals with essential market insights. Additionally, training programs organized by SPX may qualify for Continuing Professional Education (CPE) hours, keeping with industry learning standards and supporting ongoing professional development.
During the signing ceremony, SPX Chairperson Nitin Gandhi underscored the importance of this partnership in enhancing market integrity and boosting investor confidence. He pointed out that a well-functioning capital market depends on strong financial reporting and transparent governance, with FICA playing a pivotal role in reinforcing these foundations. Gandhi added that collaboration between SPX and FICA would not only strengthen the capital market but also support broader economic growth initiatives.
FICA President Wiliki Takiveikata stated that this MOU aligns seamlessly with FICA’s mission to uphold top-notch standards in financial reporting and corporate accountability within Fiji. He expressed optimism about the partnership’s ability to foster a dynamic, inclusive accounting profession that is responsive to the changing needs of businesses and investors.
Both organizations are open to furthering their collaboration and exploring additional initiatives that align with their mutual commitment to enhancing market development and financial education. This partnership marks an inspiring step toward building a more resilient and informed financial landscape in Fiji and the surrounding region.
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