Auditor General Hussain Niyazi has stated accountants play a vital role in the economic progress of the country.
The auditor general made the remarks while speaking at a ceremony held to sign an agreement between the Institute of Chartered Accountants of Maldives (CA Maldives) and the Ministry of Economic Development to train accountants. The agreement was signed by Minister of Economic Development Fayyaz Ismail and Auditor General Niyazi.
Speaking at the ceremony, the auditor general said a survey by CA Maldives showed there are about 5,000 foreign accountants working in the private sector alone. He said CA Maldives is working on training more locals in the field and to increase the number of qualified and experienced local accountants.
In his speech, the auditor general highlighted the important role played by accountants in economic progression of the country. His words were echoed by Economic Minister Fayyaz Ismail, who also spoke about the importance of accountants to a growing economy. Noting there is a scarcity of locals in the field, the minister said more focus must be given to train more professionals in the field.
Under the agreement signed on October 5, the economic ministry will facilitate and assist training programmes for accountants and auditors. On the other hand, the Auditor General’s Office will be providing assistance to Small and Medium Enterprises (SMEs) through the Business Centre Corporation (BCC).