The Institute of Chartered Accountants of The Caribbean (ICAC)

There are currently five regional committees, which have been established for the functional areas of Education/Examination, Joint Seminar, Membership, Technical and Publicity.

Education/ Examination

The Education Committee's mandate is to facilitate and encourage the provision of training and development opportunities in the region in collaboration with accredited regional and international bodies and to foster linkages with accredited institutions such as the Association of Chartered Certified Accountants, the Certified General Accountants (Canada) and other accountancy examining bodies.

Joint Seminar

The main objective of the Joint Seminar Committee is to develop, in collaboration with member Institutes, CPD initiatives aimed at broadening the continuing professional education of members within the region.

Membership

The Membership Committee is responsible for promoting an institutional framework for the participation by individual accountants under the umbrella of regional Institutes, ensure the harmonisation of entry requirements as well as rules of professional conduct among member Institutes and to assist in broadening the membership base of the ICAC.

Publicity

The objectives of the Publicity Committee include initiating activities aimed at promoting the image of the ICAC, maintaining an effective means of information exchange among member territories via the Institute's Secretariat and assisting in promoting the role, responsibility and achievements of the ICAC in advancing the interest of the regional profession through various communication media.

Technical

The Technical Committee seeks to encourage the adoption of International Financial Reporting Standards (IFRS) and International Standards on Auditing (ISA) and the harmonization of internationally acceptable standards within regional. The Committee also responsibility for overseeing the establishment of a regional practice monitoring programme to enhance the capacity of the accountancy profession and ensure the existence of efficient quality assurance review systems within the region.

Coordinating Institutes

At a Special Board of Directors Meeting held on June 17, 2004 the President suggested that due to the greater need for seminars in the Eastern Caribbean Island one such territory should chair the Joint Seminar Committee. Antigua and Barbuda accepted the challenge. Additionally, Education and Examination changed to Bahamas. Committee responsibilities are as follows:

It was agreed that the Countries responsible for the Committees should:

• Invite participation from their members in their respective committee.
• Advise ICAC of the names of the Committee members.
• Submit quarterly reports.