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Arvin Robgeer Managing Partner of Moore Stephens The modern day accountant

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Arvin Robgeer Managing Partner of Moore Stephens The modern day accountant | business-magazine.mu

Traditionally, an accountant performed financial functions related to the collection, accuracy, recording, analysis and presentation of a business, organization or company’s financial operations. Modern day accountants do no longer look into books and figures only. They also participate in the decision making process of businesses. In UK, most of the Top 100 Companies have a qualified accountant on their Board of Directors. As modern day accountants, we also provide business consultancy services which comprise of assisting the Board in making critical decisions. Accountants nowadays are also involved in strategic management, corporate governance, risk management and internal control, financial reporting and accounting. We are at the heat of every business.

Adapting to globalisation

Today, organizational needs are evolving faster than ever with the globalisation of business, ruthless competition and a challenging financial environment.

As such, professional accountants had to adapt to the changes to broaden and better serve their clients. Adaptation is also necessary for accountants to maintain relevance and public trust. The Enron scandal was also major factor which triggered a whole series of fundamental change in the role and accountability of accountants whose image and reputation were badly shatttered.

Nowadays, accountants are the people who can direct you the way forward backed by figures through the preparation of cash flows and other financial forecasts. Accountants are able to assess the past and future profitability of particular product lines and estimate the return on investment of projects before these are undertaken.

Accountants cannot work in a vacuum. Therefore they should be member of a multi- disciplinary team who will assist the Board and stakeholders in making the correct decisions. The synergy is better felt when there is a team, proper exchange of information and effective communication. Everyone needs clarity on their own role and to be clear about what other team members do. Professional accountants have the right instincts and tools to help their organizations maintain the right balance to do this. This multi-disciplinary synergy helps the enterprise in making the right decisions, brings more efficiency and dynamism to the business.

In a vibrant economy like Mauritius, the profession is far from being saturated. We still need competent professionals specializing in International Tax and consulting. The financial sector (offshore & banking) is booming and therefore more experienced accountants are required. However, true it is to say that with more and more sophisticated accounting and audit software being available, less accountants are required to do more tasks.

We have to be more careful when we hear and see what is happening in the financial sector worldwide. The job of an accountant/ auditor is now highly regulated and a lot of emphasis is being placed on professional ethics and conduct.

At Moore Stephens, we value integrity and independence and serve clients with the highest level of professionalism and commitment. We try to be always “à l’écoute” of clients without compromising on integrity and to provide clients with a personalised service rather than mass solutions.

We have an in-house training programme and also our staff attend CPD courses organised by MIPA, FRC, FSC and other institutions. We are aware that our major strength lies within our people and we therefore give utmost importance to training and professional development.

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