ICAEC Celebrates Accountant’s Week

The Institute of Chartered Accountants of the Eastern Caribbean (locally) is celebrating Accountant’s Week in a big way this year. The Institute (also known as the ICAEC) is placing a strong focus on Leadership, Ethics and Integrity in 2023, following up on last year’s theme.

At a press briefing this week, Andrea St. Rose, President of the local branch noted that not only is accounting “the language of business… it is the global dialect of trust, transparency and truth that transcends borders, cultures and economies.”

“Our role as Chartered Accountants is indispensable. We are the custodians of financial accuracy, the guardians of fiscal honesty and the architects of economic resilience. We influence decisions that impact not only the present but the future of our communities and speaking of the future, it is vital to reflect on the evolving landscape of the accounting profession and consider the future directions we must embrace to stay relevant and effective,” St. Rose said.

With regards to the latter, “several pertinent considerations demand our attention. Environmental, social and governance considerations have taken centerstage in the business world. The accounting profession must play a vital role in ensuring that financial and non-financial information is accurately reported providing stakeholders with a comprehensive view of an entity’s performance.”

Another critical aspect, she noted is the United Nation’s Sustainable Development Goals (SDGs). According to her, as guardians of financial integrity “we must advocate for and support the integration of SDGs into business strategies and reporting. This alignment will not only benefit society and the environment but also drives business sustainability and growth.”

The responsible use of artificial intelligence (A.I.) also demands their attention, she said.  As technology continues to advance, St. Rose said accountants must understand the ethical implications and the potential impact of A.I. on financial reporting and auditing.

“We must be proactive in harnessing the benefits of A.I. whilst safeguarding against misuse,” she warned, adding, “by addressing these pertinent considerations we can shape tomorrow today.”

The ICAEC kicked off its celebrations for Accountant’s Week last week Friday (on International Accountants Day).

On Saturday, Sue Ann Charlery-Payne, Vice President of the ICAEC in Saint Lucia said, “we invited members along with their family and friends to a fun exciting nature walk to Fort Rodney (and on) Sunday we dedicated that day to offering prayers for their profession.”

On Monday “we let our hair down with a night of fun and games” and on Tuesday the ICAEC dedicated that day “to accountants giving back in various forms in Saint Lucia. We (hosted) a session where we (invited) the public to come in and receive a presentation on budgeting as well as have the available Chartered Accountants answer their questions… Wednesday and Thursday we have our business conference it will be hosted over two half days virtually as well where we have a suite of relevant, exciting, interesting topics that will be delivered by an esteemed group of presenters from the International Federation of Accountants and also members from the Integrity Commission across the region,” Charlery-Payne said.

“We also have a TEDx speaker, (a leadership and business coach) and an emeritus professor in accounting who (will) be available to present on those two days. This conference is open to both members and non-members. Friday (has been dubbed) as Polo Shirt Day… on Saturday we close off our week of activities with a cocktail reception at the Harbour Club,” she said, noting that “this is the only event which is exclusively for members and invited guests. At this reception we will be honouring an individual in each of the islands because it will be hosted (in a hybrid format)—both in person and virtually. We will be recognizing (individuals) for their contribution and continued support to the accounting profession.”