The Cayman Islands Society of Professional Accountants’ (CISPA) leadership has big plans for the year ahead. During the association’s recently held Annual General Meeting, incoming president Baron Jacob, discussed some of the key areas the organisation is focusing on this year including brand awareness, NASBA certification of a number of training courses, and a membership drive amongst the civil service.
Promoting high-quality practices
CISPA is the oldest professional association in the Cayman Islands and is responsible for regulating and promoting the accountancy profession in the Cayman Islands. In terms of promoting high-quality practices, outgoing president, Sheenah Hislop explained, “Quality assurance reviews were conducted in July and formal monitoring of continued professional development (CPD) hours for members was successfully carried out.”
Ms. Hislop went on to explain that CISPA worked with the Cayman Islands Monetary Authority to ensure compliance with the Proceeds of Crime Law, and provided more than 120 hours of continued professional education in 2014.
The organisation also recognised 11 young Caymanians who attained their professional designations in 2014, and 5 students who attained their Bachelor’s in Accounting.
Milestones and objectives
CEO Sheree Ebanks, who was appointed in 2014, outlined CISPA’s key milestones such as representing CISPA at the Ordinary Council Meeting of IFAC, issuing 1,600 certificates for CPD, contributing to more than eight public consultations and government surveys, and donating $25,000 to the Ministry of Education’s mathematics recovery programme. These activities helped further CISPA toward its five strategic objectives:
1. Support growth of the financial services and related sectors of the economy in the Cayman Islands
2. Bring awareness to CISPA locally, regionally and internationally
3. Provide membership development and support
4. Be an active and credible contributor on issues affecting financial services in the Cayman Islands
5. Strengthen and promote high-quality practices by the accounting profession locally
Contributing to Cayman’s financial services
In regard to CISPA’s fourth strategic objective, Mr. Jacob said, “We take this role very seriously and will continue to play an active role in both local and international consultations affecting the profession and the Cayman Islands.” Mr. Jacob also provided an update on amendments to the Public Accountants Law that CISPA has been working on with the Ministry of Finance promising, “We will continue to push toward realising the new Accountants and Public Practice Law, as well as the Quality and Disciplinary regulations.”
The more official AGM activity is the appointing of the new Officers and Council members of CISPA. Baron Jacob, Financial Services Partner with EY, was appointed president, Serge Berube, a partner at Deloitte was elected vice president. Norm McGregor (Deloitte) and Mike Mannisto (EY) were re-elected as Treasurer and Secretary respectively, and the following were elected to serve on Council:
Simon Conway (PwC)
Joel Dodson (KPMG)
Chris Gauk (EY)
James George (BDO)
Sheenah Hislop (KPMG)
Ben Leung (PKF)
Ian Lomas (RSM)
Colin Nicholson (KPMG)
Mike Penner (Deloitte)
Peter Small (PwC)
Graeme Sunley (PwC)
The AGM was followed by a reception giving members a chance to network with the newly elected Council and Officers.