Gov’t to provide all required aid to develop accounting profession

The government will provide “any” assistance required to develop the profession of accounting, says President Ibrahim Mohamed Solih.

In his address at the opening ceremony of the Maldives Accountants Forum 2021, the president stated that the country must invest in training more locals for the profession of accounting and the posts of auditors.

He further noted that the national financial sector advancements have revived hope and that the country’s growth rate is on the right track.

Highlighting the growing need to enhance the role of local accountants and auditors in light of the increasing financial needs and taxation upkeep from private and government institutions, President Solih reaffirmed that the government will provide any assistance the Institute of Chartered Accountants of the Maldives needs for the progress of the profession, especially in exploring opportunities to train more accountants.

In addition to this, President Solih touched down on the government’s efforts to expand the profession and said that the government last year, ratified and brought into effect the Chartered Accountants Act, with the purpose of facilitating the required professional training and tools.

The president stressed on the importance of the profession as well, noting that its development will ensure democratic accountability, allowing more transparency in public and private sector businesses, with which gaps within the system that pave way for corruption will be lessened.

Further, he noted that it will also help boost credibility alongside promoting the values of good governance.

President Solih went on to encourage the Maldives Institute of Chartered Accountants to put in prompt efforts to ensure professional capability of accountants and auditors, adding that it was to assure the professional competency, legitimacy and acceptability of the profession.

During his address the president also shed light on the importance of upholding ethics and professionalism in the accounting sector.

Organized by the Institute of Chartered Accountants of the Maldives, the Maldives Accountants Forum 2021, held at Crossroads Maldives on Monday, saw President Solih presented with a commemorative plaque by representatives from the Institute of Chartered Accountants.