Newly-elected ICAC President and Director for The Bahamas, Jasmine Davis (centre) with David Simpson, ICAC Treasurer and Director for Barbados (left) and Anthony Pierre, ICAC Vice President and Director for Trinidad & Tobago (right). Missing from the photo is Khalil Alli, ICAC Secretary and Director for Guyana.

Bahamian Chartered Accountant Jasmine Davis has been elected President of the the regional accountancy body, The Institute of Chartered Accountants of the Caribbean (ICAC), for the period 2015-2016.

The newly-elected President has affirmed her commitment to continue to advance the strategic goals of the ICAC and to strengthen the role of the ICAC as the recognized umbrella body for the accountancy profession in the Caribbean. Her vision includes ensuring that the ICAC plays a key role in advancing discussions on the adoption and implementation of International Public Sector Accounting Standards (IPSAS) aimed at improving financial reporting and accountability within the region’s public sector.

Her vision is also to raise the profile of the ICAC through thought leadership. “We will seek to rightfully take our place, as Professional Accountants, both regionally and internationally, at the table with governments, policy makers and other stakeholders to ensure that we make meaningful contributions to support sustainability and economic growth,” Ms. Davis stated.

She added that the new leadership team will also be committeed to capacity building of the regional accountancy profession and will in this regard continue to work with the World Bank towards implementation of recommendations contained in the recently completed Report on Strengthening Financial Reporting Regimes and the Accountancy Profession in the Caribbean. The Report was prepared by the World Bank in collaboration with the ICAC and with input from regional accounting institutes. The ICAC will also explore inititaives with the World Bank and other key stakeholders on relevant issues on which the ICAC can play a key role, she further stated.

Another key vision of the newly-elected President is for the philanthropic arm of the ICAC to be revitalized through the implementation of various regional initiatives. “We will be collaborating with member bodies and our affiliates to launch Financial Literacy Programs throughout the region to ensure that education and awareness as relates to financial planning is occurring at all levels. To whom much is given much is required,” Ms. Davis stated.

She also hopes to see the expansion of the ICAC membership to include other territories within the region and to continue the process started by the previous leadership of reviewing the Governance Structure of the ICAC.

Ms. Davis was first appointed to the ICAC Board as Alternate Director in June 2012 and was elected Vice-President of the ICAC from June 2013-2015. She currently chairs the ICAC’s Education and Joint Seminar Committee and also sits on the ICAC’s Regional Taxation and Monitoring Committees. In addition, she represents the ICAC on the Board of Trustees for the Caribbean Court of Justice Trust Fund (CCJTF).

She is the immediate past president of the Bahamas Institute of Chartered Accountants (BICA) and co-chairs BICA’s Tax and Continuing Professional Education (CPE) Committees. A Certified Public Accountant (CPA) and member of the American Institute of Certified Public Accountants (AICPA), she has held top management positions in the Healthcare and Insurance Industry in The Bahamas and is currently the Vice President of Finance at Doctors Hospital in The Bahamas.

Ms. Davis will be supported in her new role as President by Anthony Pierre of Trinidad and Tobago, who was elected Vice President; Barbadian David Simpson, who was elected Treasurer and Khalil Alli of Guyana, who was re-elected as Secretary to the Board.

Anthony Pierre was first appointed to the ICAC Board in October 2009 and served as Secretary from June 2011 – 2013 and as Chair of the ICAC Technical Committee. He also represented the ICAC on the Board of the Caribbean Association of Industry and Commerce (CAIC). He is currently the principal of the firm, Anthony P. Pierre & Co. Chartered Accountants and is a past president of the Institute of Chartered Accountants of Trinidad and Tobago (ICATT), where he continues to serve as a Council Member.

Treasurer, David Simpson, was first appointed to the ICAC Board in June 2013 as Alternate Director for Barbados. He is a past president of the Institute of Chartered Accountants of Barbados and currently pursues his interests in entrepreneurship and small business management. He is also currently a Director of the Barbados Entrepreneurship Foundation (BEF) and Fortress Fund Managers.

A Partner with the accountancy firm, Jack A. Alli, Sons & Co., based in Guyana, Khalil Alli, joined the ICAC Board in June 2008 as Alternate Director and has been a Director since June 2011. He was elected Secretary of the ICAC Board in June 2013 and was re-elected to that position in June 2015. He is a past president of the Institute of Chartered Accountants of Guyana.

The ICAC currently represents seven English-speaking member institutes with a network of approximately 3,700 accountancy professionals in the Caribbean. It is the recognised regional organization dedicated to advancing the interest of accountants and professionals in the finance and accounting sector within the Caribbean through the promotion of internationally acceptable standards and best practices, thought leadership, research and continuing professional development.

The ICAC is also an “Acknowledged Accountancy Grouping” of the International Federation of Accountants (IFAC); a designation held by six other accountancy groupings in the world. These accountancy groupings support the objectives of IFAC and the advancement of the accountancy profession within their jurisdictions.