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A new partnership has been signed off between the Institute of Public Accountants and one of its closest island nations.
The IPA and the Fijian Institute of Accountants this week made official a mutual recognition agreement (MRA) which will have benefits for both organisations.
The MRA was a result of a longstanding relationship, between IPA CEO Andrew Conway and FIA’s former Executive Director Beverly Seeto.
They had previously collaborated through various professional accounting initiatives and networks, bringing various informal member initiatives to fruition.
“Our two organisations have a deep level of mutual respect and trust for each other. This relationship was strengthened and formalised through this agreement,” Mr Conway said.
Moves for the MRA were put in place in August 2020, when the two organisations signed a letter of intention and since then have “met” regularly via Zoom to finalise all aspects of the deal.
“It is a fantastic example of two islands working in unprecedented ways through unprecedented times resulting in a ‘pandemic agreement’,” said Mr Conway.
“It will not only deliver great professional, but also fantastic cultural benefits to our members.”
The IPA is one of the world’s largest accounting organisations, and as such brings with it a wealth of knowledge and resources to support and foster its Fijian counterpart which was established in 1972 and has grown to now include around 1000 members.
“This MRA seeks to form a strong bond between the two organisations through reciprocal recognition, membership and education pathways, providing opportunities for members in the region, and more broadly through the IPA Group globally,” Mr Conway said.
The MRA will enable the institutes to promote the transfer of skills and knowledge, along with general support around professional development, migration and ethics.
“The FIA is delighted to enter into this more formalised relationship with the IPA Group. It is clear that the FIA and IPA are well aligned to ensure that our members continue to grow and develop,” says FIA President Pravinesh Singh.
“As we emerge and continue to deal with the impact of the global pandemic, the support between professional accounting organisations has never been more important,” Mr Singh says. The agreement is part of IPA’s broader effort to increase the visibility and support for the accounting profession in the South Pacific.