Auditor General’s Office has drafted a law on Chartered Accountants of the
Maldives and, as a Government sponsored Bill, it has been presented to the
Parliament by honourable Member of Parliament (MP) Yauqoob Abdulla – an ACCA
member and a licensed Auditor – on 7th December 2019. This is a big milestone
achieved in the history of the accounting and audit profession in the country.
Auditor General’s Office greatly appreciates the Government of Maldives and MP
Yauqoob, in addition to other MPs who have supported in this endeavour.
The body to be established under the law shall be called Institute of
Chartered Accountants of the Maldives (CA Maldives). CA Maldives shall have the
a) Promote and regulate accountancy profession in the
Facilitate and provide education and training to
the members of the Institute;
Work towards ensuring that the public and private
sector accountants have technical knowledge and skill in accountancy;
Help maintain independence of private sector
Determine and enforce professional ethics and
principles which those registered with the Institute shall abide by; and
Carry out any other work necessary to develop
accountancy profession in the country.
CA Maldives will be governed by a council that will be assisted by various
technical and operational committees. It is envisaged that the Institute will
become an IFAC member body within a reasonable time of its inception. And will represent
itself as a unified voice of its members and the country’s accountancy and
audit profession in and outside the country.