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ICAJ/ACCA Joint Scheme Agreement in 1965
set the stage for
the Institute to mediate on behalf of students sitting examinations
locally, in addition to handling their registration and all
administrative queries.
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Public Accountancy Act Passed in 1968
as the statute for the
incorporation of the ICAJ. This was the laying of the groundwork for
regulating the practice of accountancy in Jamaica.
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The B.Sc. Accounting Degree Established in 1962
laid the
foundation for a University based entry route to the profession. A
history of how the move was initiated by Carroll Thorburn, is
chronicled in; "The Institute of Chartered Accountants of
Jamaica 1965 - 2000". Find this article among the publications
in our Library.
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The M.Sc. Accounting Degree Established in 1975
was a
watershed initiative for the ICAJ. It opened up an alternative
qualification route for future accountants.
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The
property located at 8 Ruthven Road was purchased in July 1980
to house permanent headquarters for the ICAJ. Construction of
the ICAJ Secretariat commenced in 1993 and followed by the
officially opening of the facilities on January 18, 1995.
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The
first ICAJ/ACCA student awards presented in September 1999
in recognition of those students who achieved outstanding
performances in the 1990 Joint Scheme examinations. This marked
the commencement of the annual ICAJ/ACCA Joint Graduation
Ceremony to recognise students who successfully complete the
Joint Scheme Examinations.
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The
ICAJ Code of Ethics was approved by Council in July 2000. It
sets out standards of objectivity and independence in the
practice of accountancy in Jamaica.
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The
ICAJ position paper, "Legal and Administrative
Framework for the Practice of Accountancy in Jamaica"
presented to the Ministry of Finance in 2000, paved the way for
the ICAJ's designation as sole official agent of the Public
Accountancy Board by the Ministry of Finance on March 7, 2001.
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Official
launch of the ICAJ website, www.icaj.org,
in March 2001
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The
signing of agreement with the Association of Accounting
Technicians (AAT) in 0ctober 2001 sets the stage for the
ICAJ to provide services to AAT students locally.
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The
ICAJ adopts International Accounting Standards (IAS) and
International Financial Reporting Standards (IFRS) on July 1,
2002 as Jamaica's national accounting and auditing
standards.
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The
ICAJ hosts the 21st Caribbean Conference of Accountants
under the theme, Winds of Change: Accountability in the 21st
Century, at the Ritz Carlton Hotel from June 26-28, 2003. The
conference was a record success attracting over 370 delegates
from the Caribbean, UK, USA and Canada. The conference provided
a forum for accounting professionals to examine regulatory
issues and other matters affecting the profession globally.
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The
ICAJ signs an historic agreement with the IDB on March 21, 2003
for the provision of grant funding for a three-year technical
project to assist with the implementation and compliance with
ISA and IFRS locally. The ICAJ/ IDB Technical Co-operation
Project was officially launched on June 11, 2004.
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The
ICAJ formally signs a Co-operation Agreement with the University
of the West Indies (Mona Campus) on January 18, 2005. The
Agreement establishes a framework for collaboration aimed at
enhancing and maintaining the standard and appropriateness of
the UWI MSc. Accounting Programme. Both ICAJ and UWI commit to
review and monitor the MSc. Accounting programme to ensure that
it meets the appropriate international accounting education
standards for persons entering the accountancy profession.
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ICAJ
accepts the CGA designation in June 2006 as an entry
qualification for accounting students. An agreement marking
the introduction of the CGA programme in Jamaica and the ICAJ
acceptance of the CGA designation was officially signed between
the ICAJ and the Certified General Accountants of Canada on
October 2, 2006.