Accountants to Raise the Standard of Accounting Profession in Saint Lucia
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.