Finance Minister, Professor Biman Prasad says professional accountants make significant contributions to the economy.

Speaking at the CPA Australia Fiji Symposium in Suva, Professor Prasad says business management depends on accurate data as it helps make sound future projections.

The Acting Prime Minister says the global accounting industry has also benchmarked its standards with all International Federation of Accountants member countries abiding by international financing reporting standards.

“Against this backdrop however, shifts in the global landscape also presents a challenging environment for professional accountants that demands the utmost professional diligence to ensure that businesses and other stakeholders are using accurate and timely data and processes in making day to day decisions.”

Professor Prasad further states that with adequate procedures, internal controls and discipline accounting profession plays an integral role in private sector growth.