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Name change for accountants’ regulator

| 15/04/2016 | 7 Comments
CNS Business

CIIPA Council – Mike Mannisto, Francoise Lamontagne, Colin Nicholson, Baron Jacob, Craig Smith, James George, Joel Dodson, Rennie Khan, Odette Samson, Chris Gauk, Serge Berube, Peter Small, Ben Leung, David Walker and Simon Conway (Simon and David are missing from attached Council photo) with Sheree Ebanks CIIPA CEO (centre)

(CNS Business): The regulating body of Cayman’s accountancy profession has changed its name to to the Cayman Islands Institute of Professional Accountants (CIIPA). Formerly the Cayman Islands Society of Professional Accountants, the organisation says its new name, which was officially changed during a recent Extraordinary General Meeting, more accurately illustrates its critical role as regulator and educator.

CIIPA is launching a communications campaign this month to support the name change as well as to raise awareness about the accountancy industry in Cayman focusing on the excellent career and scholarship opportunities that are available to Caymanians, and the importance of the accountancy profession to the growth and success of Cayman’s economy as a whole and the international reputational credibility for the jurisdiction’s financial services sector.

CIIPA Chief Executive Officer Sheree Ebanks, explained, “CIIPA is much more than just an industry body or training organisation. We carry out a crucial regulatory role in the Cayman Islands, which is critical to the success, reputation and credibility of Cayman as a global financial services centre.

“Part of CIIPA’s role is to ensure Cayman as a jurisdiction remains at the forefront of global finance and transactional activity because, as the self-regulatory body, we shoulder the responsibility that underpins this. Our name change is part of a process of ensuring that accountants are equipped to face the current challenges in the market place effectively,” she added.

CIIPA President Serge Berube added, “As an organisation, we have been working hard behind the scenes to ensure that Cayman’s accountancy profession is equipped to deal with, and respond to, changing demands in our core business. This business is increasingly global and mobile in nature and we are competing more heavily against other jurisdictions, both onshore and offshore. Good quality financial infrastructure and effective financial oversight is essential for Cayman to continue attracting this business.

“The accounting profession continues to enhance its role as the cornerstone of financial services, as underscored by this name change. Accounting plays a critical role in inspiring trust in the capital markets, and working with governments and business to foster sustainable, long-term growth that strengthens the lives of communities, including right here in Cayman.”

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Category: Accounting, Finance, Financial Services

Comments (7)

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  1. Couldn’t they find a few more women for the Board? Perhaps the Board members should take a gender diversity course.

    • Anonymous says:

      The CEO is a woman so you can view it that all the men are working for her.

    • Chris Johnson says:

      The board does not select itself! Ladies seek election and subject to the votes of the members. You may ask yourself as to why we do not have more of the fairer sex in politics.

      • But the Board can actively encourage women to run. Doubt they did that as perhaps gender diversity is not a priority of the Board. Suspect a lot of “Old Think” is at work here.

        • Chris Johnson says:

          That looks a pretty young board to me with no old farts. They have all seen it, done it. Ironically there are probably more ladies than male accountants on the island. Bear in mind many are just on two year contracts and then wish to return home. Alternatively many, the ladies that is, want to start a family thereby being unable to commit to serving on the board. No doubt Sheree has a handle on this and is actively encouraging the ladies to serve.

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