PRESS RELEASE – THE Institute of Chartered Accountants of the Eastern Caribbean (ICAEC) – St. Lucia branch is fulfilling its mandate to continuously raise the standard of the accounting profession in St. Lucia by conducting a series of workshops and seminars.
The Institute advises that in accordance with International Auditing Standards, auditors should not prepare the Financial Statements that they will be auditing. It is the client’s responsibility to prepare the financial statements. To this end, on Wednesday May 23rd, 2018 the Institute held a half-day workshop with the aim to provide its members and the public with training on the preparation of financial statements in accordance with International Financial Reporting Standards (IFRS).
The workshop was facilitated by the Council members and was well attended and received by accountants from a broad cross section of the industries in St Lucia. The workshop covered the areas concerning the presentation and disclosures required for IFRS-compliant Financial Statements and their implications, demonstrated with practical examples of questions and interactions.
The Institute intends to carry on providing more guidance on IFRS and other Professional Development areas to keep members updated.