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The mission of The Institute of Chartered Accountants of the Caribbean (ICAC) is, the development and enhancement of the Accountancy profession in the region, to enable it to provide service of consistently high quality in the public interest.

The Institute of Chartered Accountants of the Caribbean (ICAC) was formally established under the laws of Jamaica and incorporated as a Company on October, 28, 1988.

It brought together the accountants of the English speaking Caribbean.

The Institute is made up of several committees, with each playing a vital and significant role in the efficient and effective running of this body.

The role of the Technical committee is even more critical as the main objective of this committee is to

  • streamline Accounting and Auditing Standards within the region in accordance with international standards.

In a bid to achieve the foregoing the Institute commissioned the Institute of Chartered Accountants of Barbados (ICAB) to develop and circulate checklists within the territorial Institutes on the following:

  • the modifications made to the International Accounting Standards (IAS) and International Standards on Auditing (ISA) by the respective Institutes; and
  • the numbers of practising members in each territory. The latter is being sought in order to assess the feasibility of instituting the Peer Review Programme.

The checklists were circulated in November 1998, and to date only two of the Institutes have not responded. The Committee will actively follow up the outstanding responses in an effort to complete its report to ICAC.

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