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BICA celebrating 40 years

NG Business Reporter

Published: Jun 09, 2011

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The Bahamas Institute of Chartered Accountants (BICA) is celebrating its 40 year anniversary in a large way, hosting a banquet acknowledging the growth of the group since 1971.

The accounting body is holding a banquet at the Atlantis Grand Ballroom on June 18 to commemorate its 40 years of existence.  President of BICA Reece Chipman told Guardian Business that the success over the course of the years can be attributed to the individuals in the profession that helped foster the growth.

“We cannot negate the fact that the members themselves have contributed to the success of the institution,” Chipman said. “So the growth of the organization is directly associated with the participation of members and the participation of licensees to ensure that this organization remains one of the top organizations in terms of contributing to economic development, research and development  as well as ensuring our accounting students are given the best career path possible.”

The event will be held under the theme “One Goal, One Commitment, One Institute”, and will honor the past 15 presidents of the organization.  Ten Lifetime Achievement

Awards will also be handed out, along with four Accountant of the Year Awards for each of the various sectors in the profession.

The current BICA president mentioned that now is a great time to recognize those who contributed to the development of the organization, which has 600 members and 250 licensees.  Chipman added that the amount of milestones that have been achieved since 1971 is outstanding. “We have passed the Public Accountants Act of 1991 where we officially became the regulatory body of the accounting profession,” he said.  “Within the regulatory aspect of it, we’ve become members with international organizations... all of the standards, whether it’s ethics or accounting principles or audits, all are international standards that BICA members and licensees have to meet.”

Chipman said the response from the accounting community has been encouraging, with 90 percent of the occupancy already confirmed.  He added that the anticipation for the event is a positive indicator of how the event will turn out.

BICA Secretariat Tanya Rahming said hosting the event is a direct reflection of how far the accounting sector has come in the country.

“The accountants have really made great strides in [various] industries and we’re at the top of industries so we’re excited about that,” Rahming said.

“The contributions that they are making are in government and in the private sector and establishing their own businesses so that’s fundamental.”

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