KINGSTON, Jamaica (JIS) — The world’s largest professional accountancy body, the Association of Chartered Certified Accountants (ACCA), and the Council of Community Colleges of Jamaica (CCCJ) have signed a Memorandum of Understanding (MOU) to collaborate and develop the profession in Jamaica.

The MOU was signed during the CCCJ’s 15th annual conference, which was held recently.

Executive Director of the CCCJ, Dr Donna Powell Wilson, told JIS News that over the years, community colleges have been forging partnerships with professional bodies for certification aligned to programmes they offer.

“The MOU is aimed at building the capacity of students who are pursuing professional accounting qualification,” she explained.

Meanwhile, ACCA business development manager with responsibility for Jamaica, Maria Sookdeo, said that she was delighted to sign the MOU to further enhance relationships with key stakeholders like the CCCJ.

“The ACCA is an ambitious, forward-looking global organisation, and signing MOUs with like-minded partners is a key strategic aim in our goal to create accountants the world needs. The CCCJ is a fantastic partner for ACCA, as we share a commitment to raise educational standards in Jamaica,” she said.

Dr Powell Wilson explained that under the MOU, students pursuing an Associate in Business Studies will be provided with the opportunity to register for the ACCA professional qualification, while those pursuing a Bachelor in Business Studies in Accounting Major, can get up to five exemptions and also register with ACCA at significantly discounted rates.

She pointed out that students will also have access to ACCA resources, and the faculties will benefit from resource personnel who are on the ACCA list.

As part of the MOU, the ACCA has reviewed the community colleges accounting curriculum for both the Bachelor’s programme and the Associate in Business Studies programme to look at equivalency and to see where students may get the exemption.

“Once the ACCA gives their stamp of approval for the exemption from particular examinations, students can take that with them worldwide. ACCA is a worldwide qualification, so students will enjoy the benefits locally and internationally,” Dr Powell Wilson said.

There are nine examinations in the ACCA suite of the Associate in the Business Studies and the Bachelor’s in Business Studies in Accounting Major, and after the curriculum assessment was done, the local community colleges gained five exemptions.

The community colleges that are eligible for exemptions are the College of Agriculture, Science and Education (CASE); Excelsior Community College; Moneague College, and Montego Bay and Portmore Community colleges.