Important to ISIA’s roles and responsibilities and to the institute’s vision is the incorporation of the Solomon Islands Government Accounting Service (SIGAS) members into ISIA’s membership as practitioners as well as executive members of ISIA’s Council.
This is important because not only is ISIA required to set accounting standards for the public sector, it is also required to ensure its members meet professional and ethical standards which need to apply to government accountants as much as private sector accountants.
- ISIA has been in dialogue with SIGAS executive to agree arrangements to incorporate SIGAS’ membership into ISIA. It has been agreed that an MOU be crafted to spell out the principles that will apply in the incorporation process. To facilitate and accelerate this process the Accountant General has been co-opted on to Council so that he can fully participate in the management of ISIA and understand its roles and objectives.
- Steps are under way to obtain a profile of SIGAS membership in terms of educational qualifications, years of experience and current accountancy roles in the public sector in order to determine appropriate classes of membership to be awarded to its members upon incorporation into ISIA.
- Solomon Islands Government Public Financial Management Reforms
- ISIA is becoming increasingly visible to SIG and has started being invited to enquiries and hearings related to accounting and public financial management such as for the Tax Administration Bill wherein tax agents will be required to be a member of ISIA as one of their necessary qualifications; and in the Value Added Tax consultations with stakeholders.
- ISIA is also referenced as the relevant accounting regulator under the latest Electoral Act audit provisions.
ISIA will also become increasingly engaged with SIG when its yet to be formed statutory Standards Committee reviews draft financial reporting standards that will apply to government accounts at national, provincial and local government level before the standards are issued by ISIA.