New international relations and more mutual membership are expected to be established under the leadership of Fiji Institute of Chartered Accountants new president, Tarlochan Singh.

His role now spans two years, after the Government gazette on the Fiji Institute of Chartered Accountants Regulations 2022, was decreed on June 24.

Engage With Universities
Within that time frame, Mr Singh, the Chief Executive Officer for Sun Insurance, plans to improve on membership within the institute.

“This can only happen when our youths are made aware of the benefits of being members and part of a professional body,” he said.

“We will engage with the universities to strengthen this process.”

“We need to ensure students in high schools are able to plan for their future, and know what the accounting profession has to provide for them.”

He took over from Pravinesh Singh last week, as a three-in-one event culminated with the celebration of the institute’s 50th anniversary in Nadi.

Enacting
Mr Singh has his work cut out for him through enacting by-laws to align with new Act and regulations.

“This involves the day-to-day administrative guidelines that the council and the secretariat need to follow,” he said.

He also aims to continue from his predecessor, to enhance the use of the information technology and communications platforms.

“This includes digitalisation of our records, archives, educational materials, and application processes,” Mr Singh said.

Other Goals
His other goals include:
– enacting a new strategic plan in tandem with the new Act and regulations.

– strengthen the governance framework.

– continue to provide professional development programmes and educational materials to members.

A Fellow
Accountants can now apply to be fellows of the institute, under the new Act.

A registered chartered accountant may apply in writing to the council in the approved form, accompanied by the approved fee, to be admitted as a fellow of the institute.

To qualify, a fellow must:
– be a resident,

– pay annual fee for a period of not less than 10 years, and

– have made a significant contribution to the institute.

A fellow can use the abbreviation “FCA (Fiji)” after his or her name to indicate his or her qualification.

Other Professions Included
Other changes brought about by the Act include the introduction of a disciplinary panel, which replaces the disciplinary committee.

The panel will now include members from other professions.

The Act also strengthens the complaints channels.

Feedback: frederica.elbourne@fijisun.com.fj