2015 ICAC Caribbean Conference of Accountant in Trinidad

The conference, which was hosted by the Institute of Chartered Accountants of Trinidad & Tobago (ICATT), was held under the theme “Get your Game On - Building and Innovating Caribbean Businesses”. The theme highlighted the need for innovation in the way business is conducted in order to develop the region’s competitive advantage and to boost economic growth.

The conference also provided a forum for discussions on changes in the global economy and their impact on the region, as well as recent developments in accounting standards and the implications for the accountancy profession.

The opening session of the conference was addressed by the Honourable Sir K. Dwight Venner, Governor of the Eastern Caribbean Central Bank who spoke on the topic, “Building and Innovating Caribbean Businesses” and Sylvia Tsen, Senior Director for Quality and Member Relations at IFAC who spoke on “A Profession Prepared for Change: An IFAC Perspective”. Delegates were also addressed by Pria Narinesingh, President of ICATT and Frank Myers, ICAC President.

The formal signing of a new Practice Monitoring Contract for the region between the ACCA, the ICAC and the Institutes of Chartered Accountants of Barbados, Belize, Eastern Caribbean and Trinidad and Tobago also took place during the conference’s opening ceremony. The new contract to provide practice monitoring services to ICAC member bodies in the region commencing January 1, 2016 was awarded to ACCA following requests for proposal issued by the ICAC in March 2014.

The opening session of the conference was followed by break-out technical sessions focusing on:

• Current State Analysis – Where Does the Region Stand Now? – Panel Discussion
• The Capital Agenda - Making Smart Investment Decisions by Kath Carter, Global Business Development Leader, Ernst & Young.
• What’s Top of Mind for Caribbean Business Leaders – Panel Discussion
• IFRSUpdate by April Little, National Partner in Charge, Tax Accounting & Financial Reporting Services, Grant Thornton.
• Addressing Problems Arising from Audit Monitoring Visits to SMPs in the Caribbean by Michael Scott, Director, PCP Ltd and Kudos International Network.
• Valuation Techniques by Lisa Taylor, Head Advisory, KPMG CARICOM and Raymond Campbell, Deal Advisory Partner, KPMG Jamaica.
• IFAC’s Accountability Now by Alta Prinsloo, COO and Executive Director, Strategy, IFAC.
• Key Challenges for SMPs Globally by Paul Thompson, Director, Global Accountancy Profession Support at IFAC.
• Today’s Women – Doing It All – Panel Discussion
• ISAs Clarity & Best Practices by Ron Salole, IAAS Board, IFAC.

The day ended with the annual President’s Dinner which was held in the Hyatt’s Regency Ballrooms. The event program included the presentation of recognition awards to the nine Past Presidents of the ICAC and the hand-over of the ICAC Presidential Badge by outgoing President Frank V. Myers to the newly-elected President, Jasmine Davis.

Day 2 of technical sessions on Saturday, June 26 included the following topics:

• Revolutionising the Public Sector by Anthony Harbinson, President, ACCA.
• Sustaining Innovation - Human, Financial and Technological Considerations by Carl Peterson- Vice President of Small Firms, AICPA; Ron Salole – Board Member, IAASB and IFAC and Brian Hackett- Advisory Partner, PWC.
• Incorporating Practical Approaches for Dynamic Enterprise by Damaris (Dee) Garcia- Schneider- Director, Deloitte Services LP.
• Transformation-Investing, Engaging and Retaining for Business Success by Anne Donovan- US Human Capital Transformation Leader, PWC.
• The Art of Shifting Paradigms by Professor Patrick George Smith, Motivational Speaker.

During her closing address, the newly-elected ICAC President, Jasmine Davis, introduced the ICAC Directors, Affiliates and Associates and thanked the delegates for their support in making the 33rd Caribbean Conference a success. She applauded the 2015 Conference host, the Institute of Chartered Accountants of Trinidad & Tobago (ICATT), for planning and executing an excellent conference.

The conference program ended with a promotional launch of the 34th ICAC Caribbean Conference of Accountants which will be held in Belize City over the period June 23-25, 2016. The launch address was delivered by ICA-Belize’s Immediate Past President and 2016 Conference Chair, Shawn Mahler. The conference will be hosted by the Institute of Chartered Accountants of Belize (ICA-Belize).

The curtains came down on the 2015 conference with a farewell party cruise aboard the Harbour Master.