Find Accountancy, Audit and Tax expertise in Fiji

Overview

The Fijian accountancy and audit field has had its mixed fortunes, not unlike any other developing country. As a result of the size of its economy Fiji continues to retain firms affiliated to international networks such as PricewaterhouseCoopers, Ernst & Young, KPMG, Deloitte and PKF. However, it has lost highly qualified accountants due to emigration, as a result of the country’s political instability. There is also a wide range of small and medium sized firms complementing the work carried by the bigger firms – these however may be limited in terms of resources and training. The international accounting standards adopted in 2001 were subsequently replaced by the International Financial Reporting Standards (IFRS) for SMEs standards, for small and medium sized reporting entities, and IFRS for larger reporting entities. As of 2007, the IFRS issued by the International Accounting Standards Board are officially applicable to the majority of entities. The current set of audit related standards issued by the International Federation of Accountants are implemented for the audit of financial statements. In the 2011 World Bank’s Ease of Doing Business Index Fiji placed 126th in the world (out of 183 countries) in relation to resolving insolvency, below Vanuatu (53rd) and Tonga (108th), but above Samoa (145th).

Accountancy, Audit and Tax organisations in Fiji
Fiji Institute of Accountants