NEWS

 A-G: Bill Will Ease Process

This will allow accountants to set up their own practice, this will allow them to set up their own businesses, it will also affect the second group of people, those who want to start a new business or have started a new business,
23 Oct 2021 10:00
 A-G: Bill Will Ease Process
Attorney-General and Minister for Economy Aiyaz Sayed-Khaiyum outside Parliament . Photo: Parliament of Fiji

The Fiji Institute of Accountants Bill will ensure that more accountants get to register their own practice. This means more accounting services can be readily available for people.

This was the affirmation made by Attorney-General and Minister for Economy Aiyaz Sayed-Khaiyum in Parliament on Friday.

The Fiji Institute of Accountants Bill

Mr Sayed-Khaiyum said the bill was formulated after two years of consultations with the Fiji Institute of Account­ants and its members.

He added that this proposed law facilitates the needs of people and seeks to democratise the accounting profession and modernise it.

“This will allow accountants to set up their own practice, this will allow them to set up their own businesses, it will also affect the second group of people, those who want to start a new business or have started a new business,” he said.

“Now they’ve been making some money, they want to now get $20,000 from FDB or wherever else it is, they don’t know how to do their accounts. They won’t have an account­ant and they can’t afford to go and pay PriceWaterhouse­Coopers they cannot afford or any of the big firms to sign off on it.

“That’s why so many people are held back. The coopera­tives can’t afford it.

“This bill will mean that these accountants will be through the professional guidance that will be in this particular bill, and standards expected of them, will be able to sign off on accounts that FDB or whoever else other banks can accept.”

He said members of parliament and practicing account­ants had highlighted that more accountants needed to be given the opportunity to set up their own practices, as op­posed to the current oligarchic situation.

SODELPA MP Niko Nawaikula in contributing to the de­bate in parliament said while it was a good bill, the only rea­son why they opposed it was because it was coming under Standing Order 51.

Mr Nawaikula said Standing Order 51 allowed the Govern­ment to deny the constitutional and democratic rights of every citizen to be part of the law-making process and has been abused many times.

Minister for Lands Jone Usamate

Minister for Lands Jone Usa­mate said this was absolute hogwash as he responded to Mr Nawaikula.

“How democracy operates in this Government, you vote your members into parlia­ment, the group that has the most numbers in parliament they have the votes, and they can run their agenda through parliament,” he said.

“The honourable members go on about Standing Orders 51. A bill has been debated and discussed by those who are experts in this field for two years. And they have been brought into parliament and it will go into the committees.”

The bill has been referred to the Standing Committee and will be debated in a later sitting of parliament.

 



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