| The
Institute of Chartered Accountants of the Caribbean
was formally established under the Laws of Jamaica
and incorporated as a Company in October 1988,
bringing together Accountants of the English-speaking
Caribbean.
Earlier
efforts to formalize a regional body were partly
affected by poor communication network, inadequacy
of resources and disparities in the development
of the profession in the various territories.
However,
political and economic events in the region,
including the Treaty of Chaguaramas (1974),
which resulted in the formation of the Caribbean
Community and other regional bodies such as
the Caribbean Development Bank, assisted in
bringing the countries of the region closer
together. Simultaneously, companies were extending
their operations across national borders resulting
in greater demands on the profession.
The
need for a regional organization representing
the interest of Accountants in the Caribbean
became even more urgent.
At
a meeting of Caribbean Accountants in
Port-of-Spain,
Trinidad and Tobago in 1987, a resolution was
passed proposing the establishment of a chartered
body for Accountants in the Caribbean.
A
group of Accountants subsequently drafted the
documents of proposal for the establishment
of the Institute of Chartered Accountants of
the Caribbean (ICAC). Mr Aulous
Madden, then
immediate Past President
of the Institute of Chartered Accountants of
Jamaica, was assigned the chair of the steering
committee that was established to oversee the
incorporation of the ICAC on October 28, 1988.
The
historic ceremony for the signing of the Memorandum
and Articles of Association on Friday, October
28, 1988 was held at King’s House in the presence
of Jamaica’s Governor General, Sir Florizel
Glasspole and was attended by the Presidents
of the seven founding Institutes among other
persons. Also attending the ceremony was Miss
Anthea Rose, Deputy Secretary of the Association
of Chartered Certified Accountants (ACCA), United
Kingdom who brought on behalf of ACCA, a gift
of the first Seal of the new Caribbean body.
The
founding members of the ICAC were Bahamas, Barbados,
Belize, Guyana, Jamaica, St. Lucia, Trinidad
& Tobago. The first directors were Aulous
Madden, President
(Jamaica), Christopher Ram, Vice-President
(Guyana), Leonardo Ambrose, Secretary (Trinidad)
and Anthony Kikivarakis, first Treasurer (Bahamas),
Claude Griffiths (St. Lucia), Anthony Ellis
(Barbados) and Juan Bautista (Belize).
Since
its establishment, the Institute of Chartered
Accountants of the Caribbean has provided a
forum for the advancement of the accountancy
profession in the Caribbean. It is the vision
of the ICAC to establish a regional Accountancy
profession that meets internationally acceptable
accounting standards and practices and provides
a platform for the continued growth and development
of the profession.
The ICAC continues to uphold and promote the
fundamental values of the Accountancy profession
namely Truth and Fairness, Integrity, Justice
and Prosperity.
Our
flagship event continues to be the Annual
Conference in June each year.
More History
|
About
Us
