The Institute of Chartered Accountants of the Caribbean is governed by a Board of Directors. Each territorial Institute appoints a director and an alternate to serve on the ICAC Board for a period of two years.
Corporate Governance Structure
The Institute of Chartered Accountants of the Caribbean is governed by a Board of Directors. Each territorial Institute appoints a director and an alternate to serve on the ICAC Board for a period of two years. The Executive of the Board comprises the President, Vice-President, Treasurer and Secretary.
The Board of Directors meets three times annually - in January, June and October. The meetings are usually located in the territory of that year's Caribbean Conference of Accountants, with the June meeting immediately preceding the Conference.
Each representative on the ICAC Board carries one vote except on financial matters, when the representatives may opt to exercise special rights in this area. At that time, weight is given to the territories with the largest financial input.
A Committee system exists to facilitate the promotion and implementation of the goals and objectives of the ICAC. The Committee system is structured on a regional basis and has been established for the functional areas of Joint Seminars, Education, Membership, Technical, Publicity and Examinations.
A functionally staffed stand-alone Secretariat was established in 2001 to facilitate the strengthening of communication linkages among member territories in an effort to increase the participation of members in the decisions of the ICAC as well as their awareness of developments in the various member territories. Located in Kingston , Jamaica , the Secretariat is headed by a Chief Executive Officer with support services provided by an Administrative Assistant. The Secretariat is responsible for the effective implementation of the goals and objectives of ICAC as well as ensuring the maintenance of ICAC's policies and procedures among member territories. The Secretariat also assists in developing strategies that will strengthen the role of the ICAC and also exists to facilitate the operations of the Regional Committees.