CA Maldives has announced the work it is currently undertaking towards the development of AIB (Accountants in Business) regulation required under the Maldives Chartered Accountants Act 2020. Pursuant to Section 38 of the Chartered Accountants Act (13/2020), the Institute is required to publish a regulation specifying the classes, code of professional conduct and ethics and CPD requirements for non-members registered as “Accountants in Business” 90 days prior to the end of the transitional period of four years.
A draft version of the regulation will be open to the public for comments by October 2021 at the latest. CA Maldives aims to provide greater opportunities for Maldivians in the accounting profession through the AIB regulation. The Institute will make a further announcement on the details of the regulation and procedures for commenting on the draft in the coming weeks.