YOU CHEAT, YOU LOSE

Speaking at the Association of Chartered Certified Accountants (ACCA) graduation ceremony at the Crowne Plaza Hotel recently, Sahadeo told the 200 ACCA graduates that they were entering their chosen calling "at a very unique juncture" when the international focus on the accounting profession is at an all-time high.

She observed that recent overseas corporate scandals such as World Com and Enron, have led to a renewed appreciation for the strict adherence to accepted accounting and reporting principles, sound corporate governance as well as the importance of ethics in professional life. "More importantly we have witnessed first-hand the devastating effects on industries, economies and individuals when these principles are not upheld. More than ever, investors are now wary when it comes to corporate reports that may be technically correct, but may provide a less-than-true assessment of a company’s health and prospects," the minister said.

Against this background, Sahadeo told the assembled graduates that as the global marketplace evolves and with it the demands for greater financial transparency from potential investors and competitors, "so will the need for professionals who can demonstrate a comprehensive knowledge of core accounting principles coupled with a strong ethical foundation."