Behind every major business decision is a set of figures that must be understood, tested and trusted.
This is where accountants play one of their most important roles in Fiji’s economy.
Wiliki Takiveikata, a former president of the Fiji Institute of Chartered Accountants (FICA) and current council member, believes the profession is central to helping businesses make sound decisions, grow their operations and contribute to the country’s economic development.
He explained that accountants served two distinct but equally important functions: preparing financial information within organisations and independently auditing those figures to ensure accuracy and reliability.
Accountants employed by companies prepare management accounts and provide financial advice that helps boards assess performance, consider new projects and make investment decisions.
Independent auditors, meanwhile, examine financial statements to ensure stakeholders, including shareholders, can have confidence in the figures being presented.
Using the Hari Punja and Sons Group and the Fiji Sugar Corporation as examples, Mr Takiveikata said both depended on accountants to provide reliable financial information to guide their operations.
He said the profession’s contribution extended beyond bookkeeping, with financial information forming the basis of important business decisions.
Mr Takiveikata is also concerned about attracting more young people into the profession, particularly at a time when technology is changing the nature of accounting work.
He said the institute had been taking its message directly to schools, with its executive director visiting major schools in the Northern Division this year to introduce students to accounting as a career.
The initiative aims to help young people understand the subjects required at university and the opportunities available in both the public and private sectors.
Building the profession’s future begins with making young people aware of the opportunities it offers and the important role accountants play in keeping businesses and the wider economy accountable.
