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President’s Message Welcome to the Congress issue of our quarterly journal. I am pleased to provide a message since my last update in Littera, in May. Since inception, the FIA has progressively developed through a number of phases. It is now at a stage where it’s financial viability is strong with, a strong and varied membership base. The Corporate Plan of the Fiji Institute of Accountants for 2007-2012 presented strategic priorities for each of the working committees of the Institute. We made excellent progress in certain areas however, progress in other areas, particularly the strategic ones, was slow. For the Institute of our size, significant achievements in the plan period included the adoption of IFRS and IFRS for SMEs; the adoption of International Standards of Auditing; the development and implementation of a high quality education and member certification system; the adoption of IFAC Code of Ethics and, as a voting member of IFAC, compliance with IFACs Statement of Membership Obligation (SMOs). There were areas in the Corporate Plan where progress was slow. These include building public trust; the regulatory reform of the FIA; strengthening the Institute’s branding; providing leadership role in reforming financial reporting system in the Public Sector; refocusing the Annual Congress with a view to improve its profile and value and, strengthening and building capacity of the Institute to provide quality service to members. These gaps have been identified through an independent and rigorous review of the Corporate Plan over the last three months. The Institute is committed to make an early and timely execution to close these gaps. The new Corporate Plan will be presented to members at the AGM. I invite members to support the plan to take the Institute into the crucial, next three years. I would like to thank the Council members for their guidance and courage in supporting bold initiatives outlined in the plan. My special thanks go to all members for their valuable input in the planning process. We live in times of exponential speed in innovation dictated by rapidly changing lifestyles. As business leaders, it requires accountants to adapt to changes and take advantage of opportunities ahead of competition. This year’s Congress has been themed on innovation and opportunities. I hope that the blend of topics in this year’s Congress will prompt you to think new. I would like to take this opportunity to thank all the speakers at this year’s Congress who have accepted our invitation to share their insights with us. It has been a privilege and honour to be the President of the Institute for 2011/12 and I would like to wish the incoming President the very best for 2012/13. Divik Deo President 2 June 2012. The FiJi AccounTAnT www.fia.org.fj
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Page 1 and 2: JUNE 2012 www.fia.org.fj June, 2012
Page 3: June 2012 In ISSN 1728-9378 The ‘
Page 7 and 8: innovations ranging from technical
Page 9 and 10: Helping Small- and Medium-Sized Pra
Page 11 and 12: Creativity and Innovation in Educat
Page 13 and 14: Get more out of your business with
Page 15 and 16: First, we need to work towards deve
Page 17 and 18: THE UNCOMPLICATED TRUTH ABOUT BEING
Page 19 and 20: written in the positive. Long lists
Page 21 and 22: Letter to the Editor www.fia.org.fj
Page 23 and 24: they can act less on “gut feel”
Page 25 and 26: 24/7 Innovation: A Blueprint For Su
Page 27 and 28: www.fia.org.fj June, 2012. The FiJi
Page 29 and 30: a reflection of the lack of confide
Page 31 and 32: www.marsh.com.fj MARSH PROVIDES INS
Page 33 and 34: one who has been struck by the appr
Page 35 and 36: Enterprise Resource Planning (ERP)
Page 37 and 38: Why statistics Kill Innovation… A
Page 39 and 40: Membership Of Committees 2011/2012
Page 41 and 42: Fiji institute oF AccountAnts Young
Page 43 and 44: Accounting for Forests in Fiji: “
Page 45 and 46: “So to plant 500 acres of teak tr
Page 47 and 48: Top up with 290 Now with BSP’s SM

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