Legislation

The FIA was established in 1972 in accordance with the FIA Act 1971. The Institute was founded with 123 members of whom 71 were Chartered Accountants with other professional accountancy bodies, and 52 were licensed accountants. The first Provisional Member was admitted in November 1974 and the first Affiliate Accountant in February 1983.  A nine-member Council governs the Institute. 

 The Institute President and Vice President head the Council. Council members are elected by the members at the Institute’s Annual General Meeting. In accordance with the procedures prescribed in the FIA Act 1971 and FIA Rules. The Council appoints members of the Institute’s various Committees. 

The Current membership of the Council is as follows: Divik Deo (President), Camacakau Raimuria (Vice President), Sikeli Tuinamuana, Lisa Apted, Iowane Naiveli, Uday Sen, Stella Simpson and Asit Sen. The FIA Council appoints a number of specialized committees: 

(i)          Education, Membership and Awards/Graduate Professional Programme;

(ii)          Investigation;

(iii)        Disciplinary;

(iv)        Professional Development;

(v)         Accounting and Auditing Standards;

(vi)       Business and Government/Law Review;

(vii)        Congress Organising;

(viii)       Journal & Website;

(ix)       Act & Rules; and

(x)         Staff & Administration 

In contrast to the professional accountancy bodies of many other developing countries – which are financially dependent on training income – FIA derives much of its revenue from admission and membership fees and from the FIA Annual Congress.