In photo (l to r) : Ron Salole, retired Vice President (Standards), CPA Canada; Margaret Sivers, Revenue Commissioner, Barbados Revenue Authority (CPA Canada Member) and Nancy Foran, Vice President International (Americas), CPA Canada.
Chartered Professional Accountants of Canada (CPA Canada) is an active participant and valued voice in regional efforts to bring about public sector financial reform in the Caribbean.
“Each and everyone one of us is a stakeholder when it comes to the management of government finances,” explains Nancy Foran, CPA Canada’s vice-president for International (Americas). “With growing pressures for greater transparency and accountability, effective financial management is becoming a key focus for governments in the Caribbean and abroad.”
CPA Canada yesterday supported a special seminar hosted by the Institute of Chartered Accountants of Trinidad and Tobago that focused on public sector reform. The session was attended by local Permanent Secretaries.
Earlier this year, CPA Canada was a donor partner for a session in Nassau, The Bahamas that officially launched a region-wide initiative addressing public sector management reform. The effort is being driven by the Institute of Chartered Accountants of the Caribbean in partnership with the World Bank and the International Federation of Accountants.
“Momentum is building as is recognition that there is room for improvement,” stresses Foran. “No one organization has all the answers so cooperation across the region is vital if stronger reporting and greater transparency within the public sector is to be achieved.”
CPA Canada is one of the largest national accounting bodies in the world and is influential in advancing sound public policy. Evidence of this is the organization’s Memorandum of Understanding (MOU) with the U.K.-based Chartered Institute of Public Finance and Accountancy. The MOU expands the capacity of the two organisations to better enhance the governance processes within public sector institutions worldwide.
From an education standpoint, CPA Canada’s offerings ensure the public sector can access high-quality training for its employees and also draw upon skilled individuals. Foran also notes that the organization is well aware of emerging best practices.
“Each year in Canada, our organization runs an awards program that recognizes outstanding accomplishments that help to strengthen the management of public finances,” she says. “CPA Canada looks forward to maintaining its active role in the Caribbean and sharing the knowledge it has acquired. Teamwork will allow us to leverage our combined expertise and enhance public sector financial management in the region.”
For more information about CPA Canada, visit: CPA Canada/Caribbean.
By Renatta Mohammed
