Ziyath: Challenges in ensuring adherence to rules increasing with progress

An increase in development and prosperity means an increase in challenges faced in ensuring adherence to rules and regulations, says Auditor General Hassan Ziyath.

Ziyath made the remark at the inauguration of the first national accountants forum held at Hotel Jen this Monday morning.

Speaking at the function, Ziyath said along with economic prosperity and increase in State income had come an increase in State expenditure for day-today running, social services and maintaining the economic development.

He said that the financial market and real economy of the country, too, was developing. And that challenges in ensuring adherence to rules and regulation was tantamount to development. He said it was therefore vital to develop and hire professionals to address the issue and ensure rules and regulations are followed.

Ziyath expressed hope the forum will empower professionals working in the field and provide them with useful information.

Governor of Maldives Monetary Authority (MMA), Ahmed Naseer also spoke at the inauguration. Naseer said accounting and auditing professionals were vital for maintaining and monitoring the country’s economy.

He said that the forum was a platform for professionals working in the field to discuss challenges and come up with solutions to the challenges.

The three-day forum which began this Monday is conducted by Auditor General’s Office with the assistance of a group of public companies.