The Institute of Chartered Accountants of Barbados (ICAB), which is the regulator and standard setter for accounting and auditing in Barbados, wants to broaden its engagement with Government and others to help improve public financial management.
It also plans to continue advocating for “clear, fair and future-focused financial legislation, [and] well-designed financial policies”.
Damien Skeete, ICAB’s new president, detailed these objectives and others, explaining that his presidency would be guided by three core pillars – empowerment, innovation and influence.
Speaking recently on ICAB’s Talking Business programme, he said on empowerment that “the continued development and support of our public service accountants, those on the front lines of financial stewardship and accountability”, was important.
“As custodians of public finance, they play a critical role in good governance. While we have already partnered on public financial management initiatives, we must go further, deepening our engagement with Government and our strategic partners to strengthen financial systems and build public trust,” he stated.
“Our public sector committee is energised and committed to advancing this important work.”
Skeete also said that ICAB “must ensure that the accounting profession remains attractive and relevant to the next generation”.
“We have a responsibility to show young people the breadth, depth and real world impact of accounting in a changing world. It’s not just about numbers, it’s about trust, transparency and transformation.”
Regarding influence, Skeete asserted that “now more than ever, the voice of the accounting profession must be heard in shaping national and international policies”.
“ICAB will continue to advocate for clear, fair and future-focused financial legislation, well designed financial policies, improve administrative efficiency, reduce public frustration and enhance the likelihood of achieving what was initially set out to be achieved.
“As part of our public interest mandate, ICAB will also expand how we engage with . . . the public. We aim to ensure that the value of the profession is not only understood but also felt.
Noting that technology is fundamentally changing the way we work, Skeete said in relation to innovation that “from AI powered audits to blockchain enabled reporting, it’s not surprising that the future of accounting is digital, but that future must be inclusive”.
“We are committed to supporting our small and medium sized practitioners through digital literacy initiatives. Small and medium sized entities or, which they largely serve, represent over 50 per cent of global businesses and are essential drivers of economic growth and employment. They must not be left behind in the digital transformation journey,” he said.
In addition to Skeete as president, ICAB, which held its 51st annual general meeting and a special meeting
to choose its 2025-2026 council on June 5, elected vice-president Ricaido Jennings, secretary Roland Jones, and treasurer Sirpaul Jaikaran as treasurer. “Former president Tracy Marhsall is the immediate past president.
ICAB is led by a 15-member council whose other members are Shirlyne Alexander, Joy-Ann Bascombe,
Stacy-Ann Clarke, Nikita Estwick, Fiona Jones, Marilyn Husbands, Khalil Patel, Kim Sealy, Wendell Scantlebury and Darshani Workman.
Representing 1 150 chartered accountants in Barbados and 900 students pursuing professional accounting qualifications, ICAB’s programmes are run by a five-member secretariat led by its chief executive officer Lisa Padmore.
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