Fay Yee Is New Fiji Revenue And Customs Service Board Chairperson

Fay Yee, a local accomplished chartered accountant, has been appointed as chairperson of the Fiji Revenue and Customs Revenue board. The partner at Fay Yee & Company replaces outgoing Board
09 Jan 2020 11:06
Fay Yee Is New Fiji Revenue And Customs Service Board Chairperson
NEW Fiji Revenue and Customs Service board chairperson Fay Yee.

Fay Yee, a local accomplished chartered accountant, has been appointed as chairperson of the Fiji Revenue and Customs Revenue board. The partner at Fay Yee & Company replaces outgoing Board chairman Ajith Kodagoda, who was appointed in July, 2011.

Mr Kodagoda and Board director Faiz Khan’s term have ended. Mr Khan was appointed in September, 2010.

Joining Ms Yee on the board are Governor of Reserve Bank of Fiji Ariff Ali, businesswoman Lala Sowane and consultant and chartered accountant Mahmood Khan.

The appointment was made by the Attorney- General and Minister for Economy Aiyaz Sayed- Khaiyum recently.

The remaining board directors are Permanent Secretary for Ministry of Economy, Makereta Konrote and former bank executive Jone Vatukela.

About Ms Yee

Ms Yee is a chartered accountant and obtained her Degree in Arts majoring in Accounting from the University of the South Pacific.

She worked for the accounting firm Ernst & Young prior to commencing her own accounting practice, Fay Yee & Co, and has more than 35 years of accounting, business advisory and tax experience.

She has also served as board director of Fiji Revenue & Customs Authority, Fiji Public Trustee Corporation Limited, Fiji Revenue & Customs Appeals Board, Fiji Red Cross Society and Fiji Chinese Education Society.

She is a member on the University of the South Pacific Council and was chair of the University’s Finance and Investment Committee. She is also a member of FASANOC Audit and Finance Committee.

The longest-serving chair of USP’s Finance and Investments Committee (FIC), Ms Yee was farewelled on 14 December, 2015.

According to the USP website, she was first appointed as chair of FIC on January 1, 2007 till December 31, 2009.

Her appointment was renewed twice from 2010 to 2015.

Ms Yee was instrumental in making changes to the way that FIC presents documents and reports, and took great care to present considered reports to council which were well received by members of Council – particularly the candid assessments of the university’s financial position.

She had always challenged the Finance section and the university on the expectations that the committee had for accurate data and information to enable the committee to do its work well.
She was not afraid to stand her ground on matters like staff pay increases if she felt that the University’s finances were not able to cater for them. Her fearlessness was appreciated by the USP Council.

Ms Yee first became a member of Council as a Fiji Government representative in 2007 at the 64th USP Council meeting.

Lala Sowane

Ms Sowane brings over two decades’ experience in the tourism sector, providing valuable insight into the demands of the industry.

She is the director/owner of Pacific Destinations, an inbound tourism operator, and also holds qualifications as an accountant/auditor.

Ariff Ali

Mr Ali, was appointed Governor of the Reserve Bank of Fiji on September 11, 2017.

Mr Ali joined the Reserve Bank in 1992 in the Research Department.

He has worked in the Economics, Financial Markets and the Financial Institutions Groups and was Team Leader for the FIJICLEAR project.

He rose to head the Financial Markets Group in 2009 and was the Chief Manager of the Economics Group from 2013.

Prior to his appointment as Governor, he was the Deputy Governor since May 2014.

As Governor, Mr Ali is the Chairperson of the Board of the Reserve Bank of Fiji, Monetary Policy Committee, Macroeconomic Committee, Capital Markets Development Taskforce, National Financial Inclusion Taskforce and Secured Transactions Taskforce.

He is also a member of the Council of the Fiji Institute of Bankers and the National AntiMoney Laundering Council.

Mr Ali is the Chairperson of the Government Tender Board, the Fiji Cane Growers Fund, the Accident Compensation Commission Fiji and the Fiji Roads Authority and a board member of the Fiji Sugar Corporation Limited.

He obtained his Bachelor of Economics (Honours) degree from the International Islamic University, Malaysia.

Mahmood Khan

With 40 plus years experience, Mr Khan is a self employed consultant and Chartered Accountant based in Nadi.

He graduated from the University of Auckland with a Bachelor of Commerce.

Mr Khan said: “I am looking forward to the challenge of being a member of the FRCS Board.

“I hope my experience of 40 plus years as a Chartered Accountant and consultant /Independent Director both in Fiji and overseas will be of benefit to the Board.

“FRCS is undergoing significant changes in its processes and operation at the moment and I look forward to be part of the Board that drives the changes for the benefit of the Fijian taxpayers.”

He is a member of the Fiji Institute of Accountants, New Zealand Institute of Directors and is a Fellow of New Zealand Trustees Association.

He is a Fellow Chartered Accountant – Public Practice with New Zealand Institute of Chartered Accountants.

He is also a Assurance Partner – BDO Northland.

With the wealth of experience and insight,

this new-look board of directors, will surely continue to transform and deliver excellent services and fulfill the role of FRCS.

About FRCS

The Fiji Revenue & Customs Service is the major funder of the National Budget. Apart from its primary mandate, FRCS continues to partner and support other government initiatives as needed.

Its strategic plan is aligned with the Government’s national plan to ensure sustainable and effective performance.

It is a statutory organisation established under the FRCS Act 1998 that is governed by a Board and administered by a chief executive officer.


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