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BICA to collaborate with associations on CPE eligibility

The Bahamas Institute of Chartered Accountants(BICA)is looking to collaborate with other organizations on offering seminars that are eligible for the accounting body’s professional educational program, with its president confirming discussions with several associations.

Reece Chipman toldGuardian Businessyesterday that the BICA is looking to increase the number of seminars that qualify as a Continuing Professional Education(CPE)event, a requirement for licensees of the organization.

“We’re looking at giving companies approval to host seminars that would be CPE-approved by BICA,”Chipman said.”We are allowing other organizations and associations to seek authorization or approval of their seminar that would be CPE-qualified.”

Chipman added that several associations have reached out to BICA, including the Bahamas Association of Compliance Officers and the coordinators of the Bahamas Business Outlook conference, to have their events CPE-eligible. He also added that international organizations have contacted the accounting body about hosting a joint event that would qualify as a CPE event.

The BICA head outlined the criteria that a seminar would have to meet in order to be approved as a CPE event.

“We look at the agenda of the seminar and the details of the content of each topic, because the topics have to meet specific learning objectives that relate to our profession,”he said.

“Anything ranging from auditing, management, marketing, finance, law, communication, ethics, quantitative methods, behavioral science and statistics is considered. We also look at the biographies of presenters to ensure that are qualified.”

Offering more events will work in the favor or licensees who may not have the minimum of 20 hours required yearly, an area that Chipman expressed concerned about.

He said that a number of people were not attending events and getting their necessary hours earlier in the year, but Chipman said licensees have been more compliant and 80-85 percent of BICA members have completed their hours.

With BICA seeking additional opportunities to work with other organizations and offer its members more exposure, Chipman is looking forward to future responses.

“We are encouraging affiliation in terms of ensuring that there are sufficient educational courses in our field of study to ensure that our members and licensees are up to date with the current accounting, auditing and economic issues that we are expected to comment on,”he said.

Members can check the BICA web site to see if their seminars have been approved and are CPE-eligible.

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