Wed | Jan 27, 2021

Institute of Chartered Accountants paving way to Canada for Jamaicans

Published:Sunday | January 20, 2019 | 12:00 AM
Members of the Institute of Chartered Accountants of Jamaica worshipping during their 54th anniversary service of thanksgiving. From left are Elizabeth McGregor, Raymond Campbell, Elaine Robinson, and Pat Hayle.The service was held yesterday at the Sts Peter and Paul Catholic Church in Liguanea, St Andrew.

Chartered accountants converged on the Sts Peter and Paul Church in St Andrew yesterday not to balance financial books, but to give praise to God in celebration of the 54th anniversary since the Institute of Chartered Accountants of Jamaica (ICAJ) came into existence.

Speaking to The Gleaner following the celebratory church service, Raymond Campbell, the ICAJ president, noted the thousands of Jamaicans who have been able to earn a decent living from the profession. He also pointed to emerging opportunities that will give accountants the chance to work in Canada.

Campbell also indicated that because his organisation was perceived as one of integrity, the ICAJ played a key role in reviewing and contributing to legislation relating to the local financial sector.

"Every major piece of financial legislation comes through our organisation, whether it is the introduction of general consumption tax, changes to the Income Tax, the Insolvency Act, the Banking Services Act, all of those things, the Government seeks our input and insight."

He advised that the ICAJ was actively broadening the routes for persons to enter the profession.

"Historically, it was only the Association of Chartered Accountants, but we are

adding Chartered Professional Accountants Canada (CPA Canada) as another entry

route, where we can have a memorandum of understanding with the Canadian profession. We would get people doing the Canadian exams locally. That provides opportunities for persons who do the exams, who then wish to migrate. They will have a qualification that is recognised in Canada," Campbell outlined.

The Institute of Chartered Accountants was formed on January 18, 1965 and has around 1,300 practising chartered accountants.

"Many different types of contributions have been made. We would have overseen the development of many young people over the life of the institute. Historically, people who wanted to study accountancy had to go to the UK. Through a partnership, we created Jamaican exams where people could stay at home, sit the exams and qualify as an accountant," he added.