In a move designed to enhance the certification and preparation of students for successful careers in Finance and Accounting across the region, the Caribbean Examinations Council (CXC®) has renewed its Memorandum of Understanding (MoU) with the Association of Chartered Certified Accountants (ACCA).
The MoU, signed 27 June 2024 at CXC® headquarters in Barbados, by Dr. Wayne Wesley, Registrar and Chief Executive Officer of CXC® and Paula Marcelle-Irish, Head of ACCA Caribbean, will mark the seventh year of a longstanding collaboration between both organisations. The MoU aims to promote knowledge sharing to strengthen the quality of curriculum development, delivery and assessment of Accountancy and Taxation courses across the region’s Education and Training system.
“This is the third renewal of our MoU, which was first signed in 2017, and then renewed in 2020”, said Dr Wesley. “We believe that by working together, we can leverage the collective expertise of both our organisations, to the benefit of our students, which will in turn enhance professional excellence across the Caribbean,” he added.
The renewal of the partnership has also been hailed as a progressive step towards fostering a robust financial ecosystem in the Caribbean, underpinning the critical role of accountancy and taxation in regional development.
Paula Marcelle-Irish, in emphasising the importance of the collaboration said: “This partnership will have a far-reaching impact and will greatly benefit students throughout the Caribbean. Through continuous training in international best practices, our students will be equipped with the necessary skills and competencies to become the leading accountancy and finance professionals in the future, thereby driving economic integration and development in our region.”
The CXC®-ACCA MoU outlines several key objectives, which include:
• Enhanced professional training by organising workshops and courses to provide worldclass training on best practices for accountants and tax professionals in the Caribbean. These courses, developed in conjunction with CXC®, will be tailor-made to ensure that students are trained in the highest standards of professional practice and ethics.
• The facilitation of knowledge sharing between both organisations, to include exchange of expertise, resources, and best practices to improve the overall competency and capabilities of professionals in the field.
• Developing professional programmes and undertaking collaborative initiatives for teacher training.
• Developing and upgrading curriculum to prepare regional students for successful careers in finance and taxation.
• Strengthening institutional capacity building through ongoing technical exchange; and
• Undertaking joint programmes for continued professional development and training and raising awareness about the importance of sound financial management and tax compliance training.