THE TABLING of the Accountants Bill 2010 is a timely for Parliament to consider said Member of Parliament for Shortland Islands Augustine Taneko.
The bill was passed by Parliament Tuesday night.
Taneko said there was need for it to become a law seeing the importance of the profession in both the government and the private sector.
Education Minister Matthew Wale said accountants have a role to play in the society just like any other profession.
"Thus the bill is not just a bill, and not just to solidify the accountants; it is to broaden the network of accountants under the regulations stipulated in the bill.
"Mainly to safeguard the interest of clients and the relevant financial institutions and industries.
"This will enable them to do proper assessments and make appropriate decisions on any disclosures made," Wale added.
West Are`are MP and Chairman of Bills and Legislation Committee, Severino Nuaiasi said the bill was a very important to avoid exploitation financially.
“It is not to isolate them but rather it is to put them together under one umbrella body."
He said under the bill restriction and regulations ensure that proper screening will be put in place.
"Proper monitoring of eligible accountants making sure they perform to the best of their ability is also accounted for under the bill.
"Moreover it will help improve and regulate taxation records in various organizations, for better recordings and better Informations.
“This however needs the registration of the various companies and organizations to the Institution that is going to be established as stipulated in the bill."
West Honiara MP Isaac Inoke said this bill is indeed vital; it is the nerve center of any organization or private sector including our country Solomon Islands.
"The need that arises for this bill to be tabled in the Parliament has shown its importance.
"In terms of human resource where accountants are part of it; having such act or law in place will enhance their performances and duties.
"It will be of great chance to enable them for job opportunities in oversea countries; that is marketing of human resources.
"In return, benefits from the remittances that will be sent back into the country is the advantage.
"It is vital to regulate the practices of the accountants by their work, attitude and behavior," Inoke added.