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The 25th Annual ICAC Conference was
hosted by the ICAEC- St. Kitts/Nevis Branch over
the period June 28 to June 30, 2007.
Approximately 370 delegates, spouses, and guests
attended the event themed "Delivering
Excellence - Polishing the Diamond", which
was held at the St. Kitts Marriott Resort and
Royal Beach Casino. The theme was specially
selected for this, the 25th Caribbean
Conference, as previous themes dealt with
"The Winds of Change: Accountability in the
21st Century", "Adapting to the
changing face of the Accounting Profession:
Expectations;" "Globalization and its
Effects on the Profession", and most
recently, "Sharpening the Edge" to
reinforce the presence of the profession in
business. These themes were geared towards
''polishing' the accountancy profession whose
image suffered badly in the nineties and was
then regarded as a diamond in the rough.
The Conference's opening ceremony, on Friday
June 29, began with a flag raising procession in
which ICAC's members namely: Barbados, Bahamas,
Belize, Guyana, Jamaica, Trinidad and Tobago,
and the Eastern Caribbean (OECS), were in full
participation.
The flag raising ceremony was followed by
welcome remarks from Mr. Donald Thompson-
Conference Chairman; Mr. Frank Myers- ICAEC
President; Mr. Victor Abreu- Executive Director
of the Inter- American Association of
Accountants (IAA), and Mr. L. Garth Kiddoe- ICAC
President. Following the welcoming remarks, the
conference's keynote address was delivered by
the Prime Minister of the Federation of St.
Kitts and Nevis, Dr. the Hon. Denzil Douglas.
Following the conference's opening ceremony,
the topics below were presented:
- Professionalism and Ethics in Accountancy
by Mrs. Gill Ball, President of the Association
of Chartered Certified Accountants (ACCA). This
topic addressed the increasing need of
accountants along with organisations to promote
and exhibit ethical behaviour in their everyday
business environments. In addition, the
presentation touched briefly on ACCA's plans to
implement a new professional qualification which
includes a module on ethics.
- CSME -the Impact on the Accounting
Profession - Sir Dwight Venner, Governor of
Eastern Caribbean Central Bank (ECCB).
- Concurrent Session:
:: 'Recent Developments in Corporate
Governance, A Caribbean Perspective' by Mr.
Vindel Kerr, CEO of GovStrat Limited which spoke
to the evolution of taxonomy of corporate
governance development and the implications of
corporate governance for the Caribbean and the
way forward.
:: IFRS Overview and Convergence Project
Implementation by Mr. Haseeb Mohammed, Partner
in PricewaterhouseCoopers. The presentation
sought to reminded delegates of the
International Accounting Standards Board's (IASB's)
proposal to implement accounting standards in
2009 and the importance of each set of standards
to different types of companies.
::
How the changing regulatory environment has
affected financial Services by Mr. Ashley
Clarke, Partner in PricewaterhouseCoopers. This
concurrent session focused on why the issue of
the regulatory environment is now being regarded
as significant in major corporations; Basel 11
and the financial services regulation; the
Surbanes Oxley Act of 2002; and the adoption of
International Financial Reporting Standards (IFRS)
in the European Union.
- Excellence through Effective Stress
Management in our Changing Environment by Dr.
Kenford Nedd. This topic proved to be one of the
most interesting presentations for delegates as
the enthusiasm and energy of Dr. Nedd totally
captivated audience as he outlined several steps
to relieve stress. These steps included
relaxing, being happy, deep breathing, and
smiling at the first sign of tension.
President's Dinner commenced at 8:00pm with
the main highlight of the evening being the
handing over of ICAC's President's medal to the
first female President of ICAC, Ms. Angela Lee
Loy, by the outgoing President, Mr. L. Garth
Kiddoe. Other outstanding features were the
presentation of awards to ICAC Past Presidents
for their sterling contribution over the past 25
years; and entertaining performances in song by
local St. Kitts artistes.
Activities on Saturday, June 30, included a
presentation by Russell Guthrie, Director of the
International Federation of Accountants (IFAC)
on the topic 'Accounting for SME's'. This
presentation was followed by a panel discussion
on the "Harmonising the Caribbean Tax
Laws". Participants of the discussion
included: Ms. Jackie Poirier- Chairperson of CGA
Canada; Ms. Gloria Eduardo,
PricewaterhouseCoopers; Mr. Anthony La Ronde of
the Caricom Legislative Drafting Facility. The
discussion was moderated by Mr. Wendell
Lawrence, Ambassador of St. Kitts-Nevis to
CARICOM, OECS and ACS.
Following the two morning presentations, Ms.
Angela Lee Loy promoted the 26th Annual ICAC
conference to be held in the Republic of
Trinidad and Tobago over the period June 26 -
28, 2008, under the theme "Beyond the
Wall". Closing remarks from Ms. Lee Loy and
vote of thanks by Hanzel Manners, member of the
ICAEC (St. Kitts-Nevis Branch), signaled a
conclusion to the conference sessions.
The 25th Annual Conference concluded with the
journeying of participants to the sister island
of Nevis where they were given a tour of a
section of the island before heading to the
popular Pinney's Beach to relax for the
remainder of the day.
Please select the link http://www.sknaccountants.com/presenters_papers.asp
to gain access conference presentations.
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