Supporting Professional Development through Grant Partnerships in the Solomon Islands
The Cardno-managed Solomon Islands Resource Facility has instituted its first grant agreement with the Institute of Solomon Islands Accountants (ISIA). The SBD$1.6 million (AU$300,000) grant will assist ISIA to further develop its core capabilities and functions.
ISIA is a professional accountancy organisation that develops and regulates the practice of accountancy and auditing nationwide. The support to ISIA is part of the Australian Government's Solomon Islands Governance program.
Speaking at the grant agreement’s signing, Australia’s Deputy High Commissioner to the Solomon Islands, Sally-Anne Vincent, described the assistance as 'adding value to the overall DFAT Governance Program and supporting the continued growth and development of an important sector in the country.'
ISIA's Vice-President thanked both the Australian Government and Cardno for facilitating the grant agreement signing, noting that the financial support will have a transformative impact on ISIA’s activities in Solomon Islands.
'As a result of the financial support received, ISIA ... is slowly transforming its operations, and refocusing priorities to enable it to be more effective in delivering our statutory mandate which is to develop and regulate the accounting profession in the country,' said Vice President Peter Soqoilo.
In addition to strengthening ISIA capacity and effectiveness, the grant is expected to help raise the standard of accounting and reporting practices in Solomon Islands. This includes funding to set up an online examination centre to springboard professional development, allowing local accountants and students to achieve international certification without having to travel overseas.
'ISIA is also looking at over time, introducing in-country global standard accounting professional development programs suitable for both public and private sector accountants with pathways for non-tertiary qualified entry levels through to our flagship CPA programs,’ said CEO Pamela Alamu.
Grant Partnerships will be used increasingly in Cardno's work with Solomon Islands Government central agencies to implement reforms in key areas, including public financial management, budgeting and human resource management.