2016 ICAC Caribbean Conference of Accountants in Belize

Some 300 accounting and finance professionals as well as business leaders from the region and internationally, gathered in Belize over the period June 23 – 25, 2016 for the Institute of Chartered Accountants of the Caribbean’s (ICAC’s) 34th Annual Caribbean Conference of Accountants, which was hosted by the Institute of Chartered Accountants of Belize. The event this year, was held under the theme, “Call of the Champions: Breaking Boundaries in the Marketplace.”

It examined critical issues and challenges impacting the regional and global accountancy profession and attempted to identify strategies to address these challenges. The Conference provided a forum for finance professionals and business leaders to engage in thought-provoking and interactive discussions, which was centered around changes in the global economy and the effects on the Caribbean, along with recent developments in accounting standards, procedures and best practices and how these affect the profession

The opening session of the conference was addressed by Dorothy Bradley, Auditor General of Belize, who spoke on the topic, Breaking Boundaries in the Market Place, as well as, Reynaldo Magana, President of Belize and Jasmine Davis, ICAC, President. Other presentations on Day 1 of the conference were:

• International Public Sector Accounting Standards - Mike Hathorn, Board Member, IFAC.
• Strengthening Public Sector Financial Reporting and Professional Accountancy Organization (PAO)- Capacity Building update - Mike Hathorn, Board Member, IFAC.
• Opportunities and Market Support available to the Caribbean – Dr. Leroy Almendarez, Director of Foreign Trade, Belize and International Speaker.
• Market Optimization through Understanding Enterprise Risk Managements’ (ERM) Value Proposition - Datuk Alexandra Chin, ACCA President.
• ISAs Clarity & Best Practices - Lisa Padmore, Assurance Partner Ernst & Young (Barbados) and Mr. Arturo Fortun, Moore Stephens Ratio Consulting S.A. - Santa Cruz de la Sierra.
• IFRS for SMEs Update - Andrew Brathwaite, Audit Partner, KPMG Barbados.
• IFRS Updates – April Little, National Partner in Charge of Tax Accounting & Financial Reporting Services, Grant Thornton.
• ISAs Clarity and Best Practices – Arturo Moore, Stephens Ratio Consulting S.A. -Santa Cruz de la Sierra.
• Women Entrepeneurs in the Global Market – Ethnie Miller Simpson, President, Women Entrepreneurs’ Network of the Caribbean (WENC).
• Key Challenges for SMPs Globally - Yasmine El-Ramly, Senior Technical Manager, AICPA.

Later that day, delegates and spouses were treated to a taste of Belize through cultural presentations and other performances during the annual President’s Dinner, which was held in the ballroom at the Ramada Princess Hotel & Casino. Recognition awards to outgoing ICAC Board Members and ICA-Belize Past President, Mr. Clinton Castillo were also presented during the dinner.

Presentations from the technical session held on day 2 of the conference on Saturday, June 25 included:

• De-risking impacts on small economies- Impacts on the Caribbean (Panel Discussion)
• Cybersecurity Risk Management – Responding to the Inevitable Breaches- Bruce DeVinney, Compliance and Data Security Officer, Bosch Tool Corporation.
• Implementing Climate Change in Business Strategy- Carlos Fuller, International and Regional Liaison Officer, Caribbean Community Climate Change Centre.

In her closing address, ICAC President, Jasmine Davis, thanked the delegates for their support in making the 34th Caribbean Conference a success and also commended the 2016 conference host, the Institute of Chartered Accountants of Belize (ICA-Belize), led by its President, Reynaldo Magana, for planning and executing an excellent conference.

The conference programme ended with a promotional launch of the 35th ICAC Caribbean Conference of Accountants, which will be held in Georgetown, Guyana over the period June 22-24, 2017. The launch address was delivered by ICAG’s Council Member, Shelliza Yusuf. The conference will be hosted by the Institute of Chartered Accountants of Guyana (ICAG). The 2016 Conference ended with a tour and farewell party at the Old Belize Museum.