Three members of the Bahamas Institute of Chartered Accountants’ (BICA) Council met with representatives of the International Federation of Accountants (IFAC) and the World Bank during the 2012 Caribbean Conference of Accountants in Antigua.
Julian Rolle (BICA’s immediate past president, Zelma Wilson (first vice-president of BICA) and Reece Chipman (BICA second vice-president) participated in meetings that discussed initiatives related to the development of accounting institutes in the Caribbean region.
Representing IFAC and the World Bank were Warren Allen, IFAC’s deputy president, Joseph Bryson, IFAC’s technical manager, and Mozammal Hoque, The World Bank’s senior financial management specialist.
Ms Wilson said: “It is hoped that many future meetings will be held between BICA and international affiliate organisations, such as IFAC and the World Bank, to facilitate exposure to matters which may impact the local accounting profession, and to enable the advancement of the Institute and ensure compliance with global standards.
IFAC is the global organisation for the accountancy profession, dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC is comprised of 167 members and associates in 127 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry and commerce.”
The World Bank is an international financial institution that provides financing to developing countries for capital programs in an effort to reduce poverty. Its main initiatives focus on promoting foreign investment, international trade and facilitating capital investment.
BICA is the regulatory body for the accounting profession in the Bahamas. It has more than 500 members and 280 licensees.