The Bahamas Institute of Chartered Accountants (BICA) has strengthened its ties with the Bahamas Compliance Commission, after the two regulatory bodies signed a memorandum of understanding (MOU). The document will enable accountants to receive a letter of appointment from BICA, where previously it could only be acquired from the Compliance Commission. The letter allows local accountants to conduct on-site examinations at financial institutions and other operations.
The MOU was signed on February 24 and it was the first ever for BICA, with its president Reece Chipman noting that reaching such an agreement is a great accomplishment.
“Signing the MOU with the Compliance Commission is a big de ...

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