The Institute of Chartered Accountants of Jamaica was established in
1965.
Before that, the management of accountancy in the country was the
sole concern of three overseas bodies:
- The Society of Chartered Accountants,
- The Jamaica District Society of the
Association of Certified and Corporate Accountants (now
the ACCA),
- and The Association of Accountants of
Jamaica.
Prior to Jamaica's proclamation of independence
in 1962, there existed within the ranks of the association of
locally qualified practitioners, a group known as "The Young
Turks" - Alvin McClure, Philmore Ogle, Carroll Thorburn and
Vernon Chang Alloy. A group opposed to the idea of approaching independence "…with
a profession not only dependent, but divided, and having no local
authority to impose discipline".
And so began the journey
towards the formation of just such a body, an arduous climb since
consensus was hard to find. Was the way forward best in favour of the English model or Public
Accountancy?
A paper: "The Institute of
Chartered Accountants of Jamaica 1965 - 2000" chronicles the foot works
that led to a draft submission to the Ministry of Trade and Industry
on the eve of Independence in 1962 and negotiations beyond.
However as the lobby intensified and the wall of diverse opinions
crumbled, in 1965, the unincorporated Institute of Chartered
Accountants began.
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