Chief Executive Officer (CEO) of Development Bank of Maldives (DBM) Noel Gregor Patterson-Jones has said that the work of CA Maldives will increase investor confidence in the Maldives.
The CEO of the recently formed Development Bank made these remarks after inaugurating IFRS and ISA Forum, the largest accountancy forum held in the island nation.
Speaking during the ceremony, DBM CEO Noel Gregor Paterson-Jones said the initiatives CA Maldives is undertaking in maintaining the quality of its auditors and audited financial statements will boost the confidence of investors in the Maldives.
CEO Patterson-Jones said sound financial reporting, especially in key economic sectors such as tourism and the fishing industry, would boost foreign investor confidence in the country.
“The interest and confidence of foreign investors in the core industries of the economy depends on the strength of the financial accounts,” Patterson-Jones said.
Patterson-Jones also highlighted the contribution that efforts by CA Maldives could make to the relationship between transparent financial practices, investor confidence and sustainable economic growth.
CA Maldives' IFRS and ISA Forum will be held from 14 to 15 December. About 250 people are attending the forum this year. This year marks the 3rd year that CA Maldives is hosting the forum. The first forum was held in 2022.
The forum plays a pivotal role in sharing knowledge, creating dialogue and enhancing technical expertise among accountants and auditors practicing in the country.
The forum also promotes professional excellence and encourages continuous learning and the adoption of ethical principles among accounting professionals.
Accountants of the Maldives, CA Maldives is an institute established under the Chartered Accountant Act to facilitate the establishment and development of the accountancy profession in the Maldives in accordance with international norms and standards.