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FAQ

How can I become a chartered accountant?

To Become a Chartered Accountant (a Member of the ICAJ), successful candidates must:

Pass any of the qualifying examinations of the Institute (ACCA Professional examinations or a Master of Science Degree in Accounting from the University of the West Indies, Mona, the American Institute of Certified Public Accountant (AICPA) examinations or the Canadian Certified General Accounting (CGA) examinations)

Have obtained practical experience of not less than three years, by working in a professional firm or being engaged in accounting work in other acceptable organisations in senior positions

Be at least 21 years old Be recommended by two members of the Institute Be approved to membership by the Council of the Institute. Council may consider qualifications under other prescribed bodies upon application.

As a prerequisite to becoming a Chartered Accountant, one can pursue studies through any of the following routes:

The ICAJ/ACCA Joint Scheme examinations

A relevant first Degree from the University of the West Indies or the University of Technology

A Master of Science in Accounting from the University of the West Indies (Mona)

ACCA's Certified Accounting Technician (CAT) Programme or The Association of Accounting Technician (AAT) Programme

The American Institute of Certified Public Accountant (AICPA) examinations

The Canadian Certified General Accounting (CGA) examinations.

Comments: For details on how to become a Chartered Accountant click here for brochure. N.B. This document is in PDF Format. You must have the Acrobat Reader installed to view. To download the latest version of Acrobat Reader, please click here. For further information contact the Institute at 929-5869 or 929-6082

How can I qualify to become an ACCA accounting technician?

If you're over 16 years old and looking for an introduction to accountancy, you may be interested in ACCA' Certified Accounting Technician (CAT) programme. No prior knowledge of accountancy or formal academic qualifications is necessary to register.

There's no time limit! You qualify at your own pace and fit your studies around work and family commitments.

Upon successful completion of the programme, you can use the designation CAT (Certified Accounting Technician) after your name.

Certificates are awarded after completion of all three stages of the examinations and you are automatically transferred to Part 2 of the ACCA professional examinations.


Comments:For further information contact the Institute at 929-5869 or 929-6082 or via e-mail at students@icaj.org

How do I obtain a Practicing Certificate?

A member of the Institute, holding a certificate to practice from the Public Accountancy Board, shall be entitled on application to a Practicing certificate if:

Such member has, before or after, or partly before and partly after becoming a member of the Institute gained practical experience of a sufficiently high standard, while employed in the office of a practicing Accountant, who himself is a member of the Institute of Chartered Accountants of Jamaica, for a continuous period not less than thirty months, his/her experience must be certified by two members of the Institute indicating that in their opinion, the member has gained the experience required.


Comments:For more information call the Institute at (876)929-5869.

How do I qualify as a fellow?

A member shall automatically become a Fellow of the Institute on the first day of April after:

He/she has engaged himself/herself continuously in public practice for five years as an Associate of this Institute or as an Associate of a Scheduled Society Or He/she has been engaged in work of an accountancy nature for ten years as an Associate of this Institute or as an Associate of a Schedule Society in a capacity approved by the Council.


Comments:Any person who is a Fellow of a Scheduled Society may in the absolute discretion of the Council be admitted a Fellow of the Institute.

How do I qualify to become a member in public practise?

Members in public practise are those who express their opinions. In order to qualify you must:

Serve under a practicing Chartered Accountant continuously for two and a half years.

Be recommended by two members of the Institute


Comments:For more information call the Institute at (876)929-5869.

Want to become a Registered Student?

To become a registered student of the ICAJ/ACCA you must have:

A minimum of three "O" Level or CXC (1 & 2) passes and two "A"Level passes Or One "O" Level or CXC (1 & 2) passes and; three "A" level passes (including mathematics and English). (Statistics, accounting or commercial mathematics may be considered alternatives to mathematics) Or You've completed the examinations of the ACCA Certified Accounting Technician (CAT) programme.

Or You've completed the two year programme for the Mature Student Entry Route (MSER) If you have a degree in Accounting from the University of the West Indies (UWI) or the University of Technology (UTECH) you may also be accepted and will be entitled to exemptions from certain subjects under the ICAJ/ACCA Professional Examination.


Comments:You must apply to the ICAJ and also to our joint partners in the United Kingdom, the Association of Chartered Certified Accountants (ACCA), to be admitted as a registered ICAJ/ACCA student.

What CPE requirements do I need to undertake?

Members are required to undertake: At maximum an average of 35 hours per year of continuing professional education over a 3-year period.

Of the 35 hours, at least an average of 21 hours per year must be spent on appropriate structured courses. A surplus or deficit in year 1 or 2 within the 3-year period must be utilized/corrected in the year immediately following the 3-year period.

A surplus arising in year 3 of the 3-year period can be carried forward for one year only. Deficit at the end of the 3-year period can be made up at the discretion of the ICAJ.

Unstructured surplus hours can be utilized against unstructured requirements only, but structured hours can be utilized against either structured or unstructured requirements. Examples of some Structured CPE Activities Courses run by the ICAJ, under the auspices of member bodies of ICAC, ACCA, IFAC, AICPA within their continuing professional education programme. Studies undertaken for the purpose of preparing the student for a post-qualification, e.g., a specialist qualification in taxation.

Suitable courses run by a university or other appropriate institution. Relevant courses run by a member firm in public practice, by an industrial company or other business organization. Writing of technical articles, papers or books.

Working as lecturer, instructor or discussion leader on a structured course (repeat presentations of the course should not be considered for this purpose). Participation in conferences, briefing sessions or discussion groups (where technical material is prepared by the member).

Examples of some Unstructured CPE Activities Reading technical, professional financial or business literature. Use of audiotapes, videotapes, correspondence courses, etc., (where no participation is required). Participation in meetings, briefing sessions or discussion groups (where no technical material is prepared by the member). Service as a member of a technical committee, of a professional accounting body or individual firm (where no technical material is or reviewed by the member).


Comments:For more information call the Institute at (876)929-5869.

Who is a Chartered Accountant?

A Chartered Accountant is a person who is a member of the Institute of Chartered Accountants of Jamaica (ICAJ). Having graduate status does not enable anyone to refer to him/herself as a Chartered Accountant, which is a misconception held by many persons. Only Chartered Accountants are entitled to use the designation CA.

This designation indicates that by experience and competence in certain key areas such as Financial Regulatory Obligations, Taxation, Management, Audit and Business Planning & Control, the person is deemed qualified to provide the highest level of service to the business world.

What are some of the benefits I can derive as a member of the Institute? Use of the designation - CA which has a marketing value, and is well respected among employers. Free publications. Bye-Laws, Accounting & Auditing Standards (with updates) The ICAJ subscribes to professional bodies (IFAC and IASC) for auditing and accounting standards and has adopted over 30 such standards. Bi-Annual Charter Magazines.

Quarterly Newsletters. The opportunity to serve on the Institute's Council and various Committees, thereby having an input in the operation and development of the accountancy profession. Invitation to serve on National Boards/Committees. Invitation to make national commentaries.

International Representation on Councils/Boards. The Public Accountancy Board. The ACCA's Council. The Institute of Chartered Accountants of the Caribbean. PSOJ BOJ


Comments:For more information call the Institute at (876)929-5869.


AGM News

Newly elected President of the Institute of Chartered Accountants of Jamaica (ICAJ), Miss Vintoria Bernard (2nd left) shares conversation with Principal Officers, (left to right) Messrs Dennis Brown, Treasurer; Dennis Chung, Vice President; and Mrs Ethlyn Norton-Coke, Honorary Secretary at the Annual General Meeting of the ICAJ held on July 27, 2011 at the Knutsford Court Hotel in Kingston.

Read Article: Vintoria Bernard elected new ICAJ President


Memorabilia

ICAJ MEMBERSHIP PINS Members are reminded to collect their membership pins if they have not already done so. Gold pins are for members in the category of Fellow, and silver pins for members in the category of Associate. Contact the ICAJ Secretariat to make arrangements to collect your pin. The ICAJ has now introduced shirts for members and students. These shirts are available for purchase from the Secretariat office.