A new formal memorandum of understanding (MOU) is now in place between Chartered Professional Accountants of Canada (CPA Canada) and the Institute of Chartered Accountants of Jamaica (ICAJ).

The MOU is in relation to joint professional development and the increased promotion and support of the CPA Canada designation in Jamaica. Graduates who become members of CPA Canada will automatically become members of ICAJ, subject to meeting established requirements.

With the implementation of this MOU, the interests of CPA Canada members along with current and prospective students seeking the Canadian designation are enhanced. The MOU further allows ICAJ to deliver on its mandate to provide locally accessible, high-quality routes of qualification to enter the accounting profession in Jamaica.

“This MOU is an important milestone for CPA Canada in the Caribbean,” says Nancy Foran, CPA Canada vice-president (International). “It speaks to the value of collaboration and cooperation, and is aligned with CPA Canada’s efforts to support the growth and development of the profession globally.”

CPA Canada, with more than 210,000 members in Canada and abroad, has long enjoyed a mutually beneficial relationship with the ICAJ either directly or through one of its legacy bodies, (the Canadian Institute of Chartered Accountants). This agreement further solidifies those historic relationships.

Today, Canadian CPAs working in Jamaica serve in senior positions across various sectors. This MOU recognises that there is also a growing number of Jamaican accounting students who are looking to earn the Canadian CPA designation after securing their first degree.

President of the ICAJ, Raymond Campbell, applauded ICAJ Council Member and ICAJ Chair of Student Affairs, Bruce Scott, and CPA Canada’s Caribbean representative, Renatta Mohammed, for their assistance in bringing the MOU to fruition.

“This is a wonderful accomplishment for us all,” he noted. “CPA Canada offers an internationally recognised and respected designation. The accounting profession of Jamaica stands to benefit from our newest alliance, primarily through win-win collaborations along with improved student and member support.”

— Alexis Monteith