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By RACHNA LAL and ELLEN STOLZ
The president of the Certified Practising Accountants (CPA) Fiji branch, Pradeep Lal, has reminded accountants not to forget where they fit in the value chain and how integral and relevant they are to the success of commerce.
“The future is going to belong to those who know ‘what’ to do and ‘how’ to get it done,” he said.
“To continue to create value for our clients and employers, we have to rethink how we deliver services and activities.
“This will continue to move the profession up the value chain, to be more strategic.”
Mr Lal made these comments yesterday while addressing participants at the two-day 2012 Certified Practising Accountants Australia-Fiji branch congress at the Sheraton Fiji Resort on Denarau in Nadi.
“As CPAs and leaders, our values are no longer going to be measured by what we know, because you can only know so much,” he said.
“After all, today anyone can use the internet to access almost any kind of information.
“True value is achieved through processing and interpreting financial and nonfinancial information and advising on what to do. This is where strategic thinking comes in.”
The theme of this year’s congress is ‘Putting Strategy into Action’.
Mr Lal said it was no secret that successful companies were good at strategising.
“However, strategies alone do not deliver the results. Good strategies must be backed with even better executable plans to achieve the desired objectives,” he said.
“There are numerous examples of good strategy documents locked away gathering dust.
“No matter how brilliant the formulated strategies may be, the organisation will not benefit if it is not skillfully executed.”
Mr Lal stressed one of the key to successful strategy implementation was leadership.
“Leadership is the ability to influence people to adopt the new behaviours needed for strategy implementation,” he said.