The achievement of a consistent, predictable and practical financial reporting framework is one of the benchmarks of a reliable financial system. It is against this background that the Institute of Chartered Accountants of the Caribbean (ICAC) has entered into discussions with the Inter-American Development Bank (IADB) with a view to securing funding for the implementation of a regional project. The project is intended to support the adoption of and compliance with International Financial Reporting Standards (IFRS) and International Standards on Auditing (ISA) within the region. The project was first initiated in Trinidad & Tobago and Jamaica and in light of the positive impact of the programme in these countries, the ICAC has taken steps to secure funding for the implementation of the project in other member territories in the region.
The ICAC will act as the executing agency for the proposed program which is expected to commence in Bahamas, Barbados, Belize and Guyana later this year.
The main objective of the regional project is to strengthen the capacity of the region in effectively implementing and enforcing the application of international accounting and auditing standards. This will contribute to an improved business environment by promoting transparency and reliability of financial reporting framework within the Caribbean which is critical to ensuring investor confidence in the region. In addition, the adoption and adherence to internationally recognised accounting and auditing standards are considered an important element in establishment of the Caribbean Single Market and the success of a Regional Stock Exchange.
For further information, please contact:
Misha Lobban
The Institute of Chartered Accountants of the Caribbean
6 Lockett Ave, Kingston 4
Jamaica, W.I.
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: (876) 922-3223; Fax: (876) 948-6610
