Bahamas Institute of Chartered Accountants
|Bahamas Institute of Chartered Accountants (BICA)
|Formation||August 6, 1971|
|Objective||Education and licensing of professional accountants|
|Vice President||Zelma Wilson|
The Bahamas Institute of Chartered Accountants (BICA) is a professional body that regulates the accountancy industry in the Bahamas. In theory anyone approved by the relevant government ministry can act as an independent auditor, but in practice, all auditors are members of BICA.
BICA was formed by Maitland Cates, Basil Sands and Clifford Culmer, who were among the first Bahamians to qualify as chartered accountants in the 1960s. The Bahamas Institute of Chartered Accountants was incorporated on August 6, 1971. BICA became a member of the International Federation of Accountants in 1978, and a member of The Institute of Chartered Accountants of The Caribbean on 28 October 1988. The Public Accountants Act 1991 was enacted on 17 July 1991, empowering the institute to regulate and govern the accounting industry in the Bahamas. On 18 June 2011 BICA celebrated its fortieth anniversary with a banquet at the Atlantis Grand Ballroom. The organization had grown to 600 members and 250 licensees.
BICA defines the qualifications required of accountants in the Bahamas, regulates the professional conduct of members, associates, students, and public accountants who are not members, and promotes the interests of the accounting profession. The institute promotes best practices of financial reporting, promotes professional education of accountants, provides for education and examination of professionals, arranges lectures and discussions and disseminates information.
BICA is a member of the International Federation of Accountants (IFAC). BICA is also a member of the Institute of Chartered Accountants of the Caribbean.
- Eileen Fielder (Jun 9, 2011). "Bahamas Institute of Chartered Accountants to honour Members in Grand Style". Bahamas Weekly. Retrieved 2011-07-02.
- Richard Evans (17 December 1999). "Bahamas: International Tax and Business Guide - Setting Up A Business In The Bahamas - A Quick Guide For Foreigners". Deloitte & Touche. Retrieved 2011-07-02.
- THEA RUTHERFORD (July 2, 2007). "Inspired, Maitland Cates' staff past and present say thanks". The Freeport News. Retrieved 2011-07-02.
- "HISTORY OF THE BAHAMAS INSTITUTE OF CHARTERED ACCOUNTANTS (BICA)". BICA. Archived from the original on 6 July 2011. Retrieved 2011-07-02.
- JAMMAL SMITH (Jun 09, 2011). "BICA celebrating 40 years". Nassau Guardian. Retrieved 2011-07-02.
- "2010/2011 Annual Report". BICA. Archived from the original on 6 July 2011. Retrieved 2011-07-02.
- "The Bahamas Institute of Chartered Accountants". IFAC. Retrieved 2011-06-30.
- "Members And Affiliates". ICAC. Retrieved 2011-07-01.