Sound accounting builds trust, growth, fairness: Finance Minister

Minister of Finance and Planning Moosa Zameer on Saturday said that the Government considers ongoing investment in the accounting and auditing profession essential to building a fairer and more prosperous Maldives.

Speaking at the opening ceremony of the Maldives Accountants Forum 2025, organised by the Institute of Chartered Accountants of the Maldives (CA Maldives), Minister Zameer emphasised that “strong professional regulation and capability are not costs; they are enablers of prosperity and fairness.”

He said that a robust accounting and auditing profession underpins confidence in both public finances and private enterprise. “When accounting is strong, governance is stronger; when governance is stronger, the economy is more stable and opportunity is broader,” he noted.

This year’s forum, themed “Strengthening Financial Governance and Accountability,” brought together around 300 participants, including accountants, finance and business leaders, and policymakers, to discuss best practices and challenges in building a more transparent and efficient financial ecosystem.

The Minister outlined two priority initiatives proposed by CA Maldives that the Government intends to support through the State Budget for 2026: the establishment of an Audit Quality Review programme and the creation of a national registry of accountants.

The Audit Quality Review programme will evaluate whether audits are conducted in accordance with international standards and local regulations. According to Minister Zameer, this initiative will help uphold the integrity of financial reporting, safeguard lenders and investors, and boost confidence among international partners and rating agencies.

The proposed national registry of accountants aims to provide an accurate overview of the workforce, support localisation efforts, and strengthen professional development and compliance. “A structured registry will enable targeted capacity-building and ensure that evolving regulations are properly understood across the profession,” he said.

Minister Zameer confirmed that the Ministry of Finance and Planning will collaborate closely with CA Maldives to design the audit quality review framework and implement the registry, integrating both initiatives into broader digital governance systems.

He also urged private sector firms and professionals to take an active role in maintaining quality standards, mentoring young Maldivians, and contributing to a culture of ethical practice.

“The prosperity we seek for our people demands credible numbers, disciplined stewardship and public trust,” Minister Zameer said in conclusion. “The accounting profession is at the centre of all three.”

The Maldives Accountants Forum is the country’s largest gathering of accounting and finance professionals, offering a platform to exchange insights and promote best practices in financial governance and accountability.