Government is in the process of establishing a law to rid accountants of corruption and malpractices within the profession.
Speaking at the opening of the 39th Fiji Institute of Accountants Congress meeting at the Shangri-la Fijian Resort this morning, Prime Minister Commodore Voreqe Bainimarama said the state’s law office was in the process of preparing a law to stop corruption within the fraternity.
“Cabinet has directed the Office of the Attorney-General to prepare the necessary law to establish the framework to help appropriately monitor compliance and impose sanctions against misconduct and malpractice in the accounting profession,” he said.
“This will be line with those adopted in the international level in countries such as Australia and USA.”
Commodore Bainimarama said accounting professionals would be invited to make submissions during the formulation of the new law.
“The composition, jurisdiction and administrative matters with respect to the framework will be finalised upon the preparation of the draft law,” the Prime Minister said.
“Submissions will also be called for from the accounting profession and members of the public during the formulation of the Framework.
“Government is committed to ensuring to ensuring that high standards are maintained in the accounting cadre.”
The Prime Minister believes this will give confidence to ordinary citizens, the business sector, the regulatory agencies and investors are certain that the accounting professionals will welcome this framework.
“I am confident that all of you will welcome this Framework. After all if one is not breaching various standards and best practices then there is nothing to worry about,” Commodore Bainimarama said.