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Council

Terms of Reference

  1. Promote and protect the welfare and interest of the Institute and the accountancy profession in Belize by monitoring the work of the committees to ensure that ICAB's objectives are realized.
  2. Promote and foster relations with other professional bodies in Belize and elsewhere to better achieve objectives of the Institute.
  3. Subscribe to and join or associate with regional and other national professional organizations whose objects are consistent with the Institute.
  4. Manage the affairs of the Institute by establishing a Secretariat.
  5. Establish guidelines to strengthen the Institute. It is recommended by this Committee that one such change would include the following change to the process of electing Council Members:
    • Prior to the AGM, biographies (Bios) of each person wishing to serve on the Council shall be circulated to all Members.
    • The Council will then be selected on an individual basis rather than using a slate.
    • By this means, if there are eight applicants, two of those applicants won't be automatically rejected simply because they weren’t part of a pre-arranged 6 person ‘slate’.
    • The Bios, providing details of the skills, and the primary commitments and contributions each person intends to focus on, will enable the Institute's membership to be better informed as to the capabilities and ability to perform of each candidate seeking a position on Council.
    • It should be a prerequisite that all candidates for Council be required to serve on a committee of the Institute for at least two years before offering themself as a candidate for Council.
    • Council should also require that each member of Council join one of the standing committees to act as scribe and Council liaison but not as chairperson.
  6. Create public awareness of the Institute, its objectives, and its contribution to the common good of the wider community.
  7. Coordinate and support the work of the SPCs.
  8. Provide the necessary finance to the various SPCs to ensure that they function effectively.
  9. Design, implement, and manage a more expansive communication system between members.

Investigations and Disciplinary Committee (IDC):

Terms of Reference

  • To regulate the ethics, discipline, professional conduct and standards of the Institute's members and students.
  • To ensure that each member has access to the Institute's ethical standards, accounting standards and auditing standards, and that relevant information on these standards is disseminated to all accountancy students, the government and the business community.
  • To receive and process complaints received from members, the general public and the Council by conducting the appropriate investigation to substantiate or negate the complaints.
  • To report to Council on its findings and make recommendations as to penalties for particular complaints and non-compliance with regulatory standards.
  • To submit a budget for its activities for approval by Council.

Tax and Legal Committee (TLC):

Terms of Reference

  • To advise the Government of Belize, statutory bodies, educational or charitable institutions, trade unions, business, and other professional organizations on matters within the province of the accountancy profession.
  • To review and make formal representations on current, new, or changes to tax laws, company law, or any other law or regulation impacting the interest of the Institute and its members or the business community.
  • To report to Council on its work and to provide an action plan for Council to ensure the necessary changes are forthcoming.
  • To submit a budget for its activities for approval by Council.

Training & Education Committee (TLC):

Terms of Reference

  • To promote and increase the knowledge, skill, and proficiency of members and accountancy students.
  • To reinforce amongst members the importance and need for continuing professional education (CPE) and to make CPE available remotely or in Belize at minimum costs to members of the Institute.
  • To receive CPE reports from members and to monitor compliance with the Institute's CPE requirements.
  • To provide appropriate opportunities for the training, education, and examination of persons engaging in or intending to engage in the accountancy profession through the Institute's affiliation with professional accountancy bodies either virtually or in person.
  • To negotiate subsidized rates for training and/or establish virtual training opportunities for members and students.
  • To establish and promote an increase in the number of professional accountants in Belize by using the ACCA training facilities.
  • To reach out to primary, secondary, and tertiary educational institutions to generate interest in the accounting profession.
  • To report to Council on its work.
  • To submit a budget for its activities for approval by Council.

Communications Committee

Terms of Reference

  • Identify ICAB’s communications needs and priorities through consultation with Council and members.
  • Introduce communications initiatives that are consistent and aligned with the strategic communications goals of ICAB.
  • Oversee the implementation of the communications initiatives of the ICAB, which may include but not be limited to the development and maintenance of the ICAB’s website as well as an on-line social media presence.
  • Promote recognition and awareness of the ICAB.
  • Provide advice to Council on communications matters as they arise.
  • Identify the annual budgetary requirements related to the delivery of communications.
  • Liaise with the other committees to ensure that appropriate and effective protocols are in place for the proper co-ordination of ICAB communications.
  • Provide regular information on matters of interest to ICAB members, students and the public.
  • Assist in the production of publications by providing or reviewing information for publication.
  • Ensure that members are kept aware of developments within ICAB including but not limited to decisions of Council.
  • Provide periodic reports and updates to Council on communications, as appropriate.