NEW ICAC LEADERSHIP ELECTED AT 21ST CARIBBEAN CONFERENCE

Mr Elson R. Jordan (Barbados) was elected the new ICAC President for 2003/2004 at the ICAC Annual General Meeting held prior to the 21st Caribbean Conference of Accountants, at the Ritz Carlton Golf and Spa Resort Hotel, Montego Bay.

Mr Linroy Marshall, ICAJ Vice President & Jamaica's Director was elected Vice-President, while Mariano Browne from Barbados will continue to serve as Treasurer with Harryram Parmesar from Guyana as Secretary.

The handing-over of insignia from outgoing President, Joel Edwards, to the newly elected President took place during the Presidents' Banquet on Friday, June 27.

Among the major issues discussed at the Annual General Meeting were the proposed regional practice monitoring system and the harmonisation of accountancy qualifications in the region.

The ICAC Board of Directors agreed to advance efforts towards preparing the legislative framework of territorial Institutes in the region in order to facilitate the implementation of the regional practice monitoring system.

A project team will also be established to develop and implement a detailed plan of action for the establishment of the practice monitoring system. The team will comprise the ICAC President and Chief Executive Officer as well as representatives from Trinidad and Jamaica.

With regards to the harmonisation of accountancy qualifications in the region, the ICAC Board of Directors is developing an approved list of accountancy qualifications as routes of entry to member institutes in the region and all Institutes will be persuaded to adopt this list. This is expected to be in place as part of the internal regime arrangements in preparation for the Caricom Single Market & Economy (CSME) and the Free Trade Agreement of the Americas (FTAA). The Caribbean Conference of Accountants is hosted annually, on a rotational basis, in one of the eight territorial Institutes of the Institute of Chartered Accountants of the Caribbean (ICAC) and provides a forum for promoting and advancing the interest of the accountancy profession in the Caribbean region. The 2004 Caribbean Conference of Accountants will be held in St. Lucia.



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