Ac­coun­tants to Raise the Stan­dard of Ac­count­ing Pro­fes­sion in Saint Lu­cia

The Star (St. Lucia) - - LOCAL -

The As­so­ci­a­tion of Char­tered Cer­ti­fied Ac­coun­tants (ACCA) and The In­sti­tute of Char­tered Ac­coun­tants of the Eastern Caribbean (ICAEC)Saint Lu­cia branch is ful­fill­ing its man­date to con­tin­u­ously raise the stan­dard of the ac­count­ing pro­fes­sion in St. Lu­cia by con­duct­ing a se­ries of work­shops and sem­i­nars.

In Septem­ber of this year, the In­sti­tute, with the kind as­sis­tance of the As­so­ci­a­tion of Char­tered Cer­ti­fied Ac­coun­tants, held a one-day work­shop with the aim of pro­vid­ing its mem­bers and the pub­lic with a fo­cused up­date on the key cur­rent is­sues in In­ter­na­tional Fi­nan­cial Re­port­ing Stan­dards (IFRS).

The work­shop fa­cil­i­tated by Mr. Na­gin Lad (BA Hons.,MSc.,MAAT, FCCA,ACFE) was well at­tended and re­ceived by ac­coun­tants from a broad cross-sec­tion of the ac­count­ing in­dus­tries in Saint Lu­cia. The work­shop cov­ered a num­ber of ar­eas in­clud­ing learn­ing about the re­cent changes to the IFRS’s and their im­pli­ca­tions, demon­strated with prac­ti­cal ex­am­ples of ques­tions and in­ter­ac­tions.

Ac­cord­ing to lo­cal or­ga­ni­za­tion, the In­sti­tute in­tends to carry on pro­vid­ing more IFRS re­fresher cour­ses and con­tin­u­ous pro­fes­sional devel­op­ment op­tions to keep mem­bers up­dated as the in­for­ma­tion be­comes avail­able.

True to their man­date, ICAEC held a Re­gional Coun­cil Re­treat here in Saint Lu­cia in Oc­to­ber. Pres­i­dent An­drea St Rose chaired the event and warmly wel­comed the Coun­cil mem­bers to St Lu­cia. The Coun­cil got right down to business with a se­ries dis­cus­sions and res­o­lu­tions on the way for­ward to bet­ter carry out the man­date of the In­sti­tute in pro­vid­ing its unique ser­vice to the pro­fes­sion and the mem­ber coun­tries as a whole.

Among the items dis­cussed were ac­tiv­i­ties to foster in­clu­sions such as an ‘Ac­coun­tants Week’ to be held in the dif­fer­ent ter­ri­to­ries, the es­tab­lish­ment of a new Sec­re­tariat for the In­sti­tute which is lo­cated in St Lu­cia, its as­so­ci­a­tion to the wider re­gional and par­ent­ing bod­ies, the for­ma­tion of sub-com­mit­tees and pro­vid­ing ef­fec­tive prac­tice mon­i­tor­ing of its mem­bers, the web­site fa­cil­ity, and other strate­gic plans.

The In­sti­tute of Char­tered Ac­coun­tants of the Eastern Caribbean (ICAEC) was launched on June 17, 2004 af­ter mem­bers of the OECS, in­clud­ing Do­minica, Gre­nada, Montser­rat, St. Kitts-Ne­vis, St. Lu­cia and An­tigua-Bar­buda, rat­i­fied the agree­ment.

The pur­pose of the in­sti­tute is to pro­vide sup­port and as­sis­tance to its mem­bers through­out the Eastern Caribbean. The ICAEC has a branch in each of the coun­tries within the OECS. There are six branches and ap­prox­i­mately 250 mem­bers within the ICAEC.

Mr. Na­gin Lad led an in­ter­ac­tive dis­cus­sion about In­ter­na­tional Fi­nan­cial Re­port­ing at a one day work­shop hosted by ICAEC in Septem­ber.

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