ICAJ Harmonises Entry Qualifications in Preparation for CSM

In an effort to harmonise entry qualifications for the local Accountancy profession with those of other Caribbean territories, the Institute of Chartered Accountants of Jamaica (ICAJ) has formally accepted the Certified General Accountants of Canada (CGA) designation as an entry qualification for Accountancy students. The CGA qualification is recognised by other countries in the region.

The introduction of the CGA programme in Jamaica was officially launched today (October 2, 2006) at the Hilton Kingston Hotel, at which a Memorandum of Understanding (MOU) was signed by Leighton McKnight, ICAJ President and Lyle Handsfield, Director, CGA International.

Mr. McKnight noted that the acceptance of the CGA designation symbolised the ICAJ's commitment to ensure that the local Accountancy body was on the same platform as its counterparts in the region and that the move was in keeping with the Institute's preparations for the implementation of the Caribbean Single Market (CSM). The protocol to establish the CSM was formally signed by Jamaica and five other Caricom countries, namely, Trinidad, Barbados, Guyana, Belize and Suriname on Monday, January 30, 2006.

"The ICAJ has been working with other regional Institutes, through the Institute of Chartered Accountants of the Caribbean (ICAC), to prepare for the implementation of the CSM. This includes the harmonisation of entry qualifications to the profession within the region," he stated.

Mr. McKnight explained that the harmonisation of entry qualifications will benefit the profession by facilitating the mobility of accountants, whether as employees or as practitioners, within the region. It will also guarantee acceptance of specified qualifications by all member Institutes within the region, and facilitate the processing of licenses for practitioners to work in Caribbean territories other than their own.

Under the Memorandum of Understanding, the ICAJ will provide administrative support to new and current CGA students in Jamaica. These students, upon completion of the CGA programme and provided that they meet the necessary requirements, will be able to qualify as members of the local Accountancy profession.

The CGA programme targets University and College students at the first-degree level or anyone wishing to pursue a career in accounting and finance. The official launch paves the way for students to enroll in the program and to prepare for examinations in March 2007.



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