President urges to give preference to local accountants

Ibrahim Mohamed Solih
President of Maldives, Ibrahim Mohamed Solih | Photo: President's Office

Male’, Maldives – The President of Maldives, Ibrahim Mohamed Solih requested all employers to give preference in recruiting local accountants rather than foreiners.

The request from President Solih comes after he had a brief meeting with the council members of the Institute of Chartered Accountants of the Maldives (ICAM) in the President’s Office.

During the meeting, President Solih noted that the ratified Maldives Chartered Accountants Act has played a great role in developing the accounting profession in Maldives.

President said that the incumbent government has made several plans to bring more opportunities for the locals to excel in the Accounting field. For this, the government will be providing higher education schemes and training opportunities so that the citizens are talented and can prosper from this field.

To allow this to be a success, the President urged all the employers in Maldives to give precedence in recruiting locals who are aware of the accounting profession.

During the meeting, the ICAM members shared the challenges and pertinent issues that are facing in the reform and transformation of the sector. However, the members also noted that the new ratification of the Maldives Chartered Accountants Act has been very beneficial and helpful in building success in this field.

The President ratified the Maldives Chartered Accountants Act on September 08 after the Parliament approved it on August 26.

The ratified act states that all aspects of the Maldives’ accountancy profession will be in accordance with international procedures and guidelines. 

Following the ratification, ICAM is now required to take over the work of  registering and licensing parties for audit and assurance services, as well as registering members and providing the necessary guidelines. This work was previously done by the government.