Nouzab Fareed has stepped down as the President of the Fiji Institute of Accountants (FIA) with Jerome Kado, a partner at PricewaterhouseCoopers taking over the role.

This was during the FIA’s annual general meeting held on Thursday evening on the sidelines of the 2016 FIA Congress at the Sheraton Fiji Resort.

Mr Fareed’s term expired and he decided not to seek election for another term.

“I believe it is time for the younger generation to take up this position,” he said.

“The average age of accountant is below 30 it is important that they have a say in the council.”

As the outgoing President, Mr Fareed said the AGM was a successful one with a record 65 members attending it.

“It was a record as far as I know as in the past six to ten years. I have not seen 65 members as we always try to drag members in the last minute.

“It was very good and there was no single question about financial or the annual report or anything,” he said.

Meanwhile, Finau Nagera, from the Office of the Auditor General becomes the next Vice President.

New faces

Two new members have been elected to the FIA board. They are Rajeshwar Singh from Bank South Pacific and Nitesh Lal of Dominion Finance.

“We can go on to strengthen our profession and voice of younger generation is important as they determine our profession and out future,” Mr Fareed said.

Independent Commission

Meanwhile, Mr Fareed said they are supportive of Government’s decision to organise an independent commission to look into professional misconduct.

“Even though we have our own mechanism, it is very important to be independent for all professions,” he said.

“It will consist of lawyers, accountant and engineers. So a body which will look at complaints and investigation.

“We need to be very clear and transparent and nothing to hide.”

Executive director

Mr Fareed also thanked Murray McKenzie for his 18 and half years of services to the FIA as its executive director.

Mr McKenzie has stepped down and will end his term on April 30.

As Mr McKenzie finishes off with the FIA, Navin Raj has been appointed the new executive director.

Mr Fareed described Mr Raj as young and energetic with proven track record of success.

“We are fully confident the new team will take FIA to the next level,” he said.

 New Board

President – Jerome Kado

Vice President – Finau Nagera

Treasurer – Renu Chand

Directors

Rajeshwar Singh

Nitesh Lal

Murgessan Pillay

Cama Raimuria

Zarin Khan

Sikeli Tuinamuana