The Institute of Solomon Islands Accountants (ISIA) was initially registered under the Charitable Trust Act in the 1980’s. The institute got support and recognition by the Government of Solomon Islands with the passage of the Accountants Bill in 2010 paving the way for the formal establishment of the organisation and calling for the recognition of the profession in the country and overseas.
The Accountants Bill 2010 governed the establishment of the Institute and has given clear mandates for the implementation and regulation of the profession to grow, develop, and improve both the institute and its members in Solomon Islands.
In 2015, a Strategic Planning Workshop was held to discuss key attributes that ISIA need to focus on from 2016-2020. The workshop resulted in the designing and approval of a Strategic work plan to be implemented in the periods from 2016-2020. The work plan focussed on the four (4) core areas of sustainability, relevance, professionalism and member value. These core attributes provides the platform for existence, expansion and sustenance of the institute in Solomon Islands.
The consolidation of the Medium Term Plan was done in different stages and levels of consultation with the ISIA Council and various stakeholders. The consultation which took a month included meetings with present members of the Council, financial members of the Institute, government representatives, Australian Government (DFAT), and email contacts and discussions with Council of Asia Pacific Accountants (CPAA), Australian Chartered Accountants (ACA), Deloitte, Yam and Company Chartered Accountants,and Morris and Sjonocki.
The Medium Term Plan 2018 – 2020 sets out the plans and programs that the Council has proposed to implement to meet ISIA’s core objectives, especially the need to work on sustainability of the institute, increase and improve consultations and dialogue with the government, increase membership and encourage gender and social inclusion, and design and develop a strategy that enable financial sustainability and lower funding dependency.
With the support of DFAT, the former Auditor General to Solomon Islands Mr Robert Cohen, was also engaged to implement new rules and regulations for ISIA and to complete the implementation of all statutory committees by December 2019. A plan was also approved in 2019 to achieve IFAC accreditation by 2025.