News Feed

October 21, 2016 - Teenager bamboozles England Teenage off-spinner Mehedi Hasan to ... +++ October 21, 2016 - Local weed cultivation on the rise Marijuana cultivation is on the ris ... +++ October 21, 2016 - Pollard vents on his failed UAE tour PORT OF SPAIN, Trinidad – Kie ... +++ October 21, 2016 - Teen faces indecency charge A St George teen who was charged in ... +++ October 21, 2016 - GAIA wage dispute resolution in sight A prolonged and sometimes bitter wa ... +++ October 21, 2016 - Combermere thrash Graydon Sealy Former champions Graydon Sealy had ... +++

Accountants must play more strategic role

Local accountants have been put on notice that the demand for their services could increase tremendously as residents call for greater transparency from the public sector and companies change their business models.

President of ICAB Lisa Padmore

President of ICAB Lisa Padmore

“There is a growing scrutiny of public finance and a call for complete and accurate information with which to make decisions,” noted President of the Institute of Chartered Accountants of Barbados (ICAB) Lisa Padmore.

She quoted a global survey, which showed that the ethical conduct of organizations was also becoming increasingly important.

Padmore said there were also some changes in the area of organizational reporting and management that would impact on the accounting profession.

In this regard, she pointed out that the role of the chief financial officer, as well as the general accountancy function will assume a far greater organizational remit and that “the capabilities of the professional accountant will be leveraged across all aspects of organizational decision making from strategy formulation to defining new business models”.

“There will be increased public expectation that the profession will play a bigger role in enhancing governance and addressing fraud, corruption, money laundering and other unethical practices.

“Governments will be under pressure to improve transparency and accountability and will seek the help of accountants to help with that reporting,” she said.

One Response to Accountants must play more strategic role

  1. Andrew Rudder November 12, 2015 at 11:01 am

    It’s great to have the general public informed on these principals. We Barbadians wish for these atributes to be applied to our auditing department by well trained accountants.


Leave a Reply

Your email address will not be published. Required fields are marked *