ACCA Members Officially Recognised In Bermuda

October 31, 2019

The Association of Chartered Certified Accountants [ACCA] says that it welcomes the Bermuda Government’s amendments to the Chartered Professional Accountants of Bermuda [CPA Bermuda] Act of October 21 that formally recognises ACCA members on the island.

A spokesperson said, “The amendments made to the Act allow ACCA members to refer to themselves as professional accountants and to use their professional designations. This means that the accounting profession in Bermuda comes under one regulatory body, CPA Bermuda.

“ACCA worked with the government and CPA Bermuda to make these amendments thus opening access to CPA Bermuda membership to members of other recognised bodies to the benefit of the profession, employers and students looking to become accountants.”

Shelly Ann-Mohammed said, “Over recent years, ACCA has worked with the government and the national body to clarify the situation. While this case has been on-going, we have been proactive in our work with the national body, ensuring that ACCA members could be eligible for membership to CPA Bermuda without the need to requalify.

“With CPA’s agreement, our licensed members will be able to sign-off audits and use their originating designation letters after their name. We have also secured ACCA representation on the CPA Bermuda Board.

“There is a mutual acknowledgement between ACCA, CPA Bermuda, the government and policymakers that we are partners in serving the Bermudian profession together, and this is a clear benefit for those looking to use accountants for their professional advice and expertise.

“It is also a benefit to those looking to enter the profession and work in Bermuda. We thank the Government for their consideration, and also to CPA Bermuda for their work with us.”

Philip Burrill, Chair of CPA Bermuda, said, “We are pleased that the legislative changes have been passed which will allow ACCAs and other designations residing on the island to join CPA Bermuda. This will only strengthen the accounting profession’s regulatory framework in the face of the broader international evaluation of our jurisdiction.

“We are pleased to have worked with our existing members, ACCA and the Bermuda government in a collaborative manner to bring this to fruition.”

Diallo Rabain, Minister of Education, said, “The recognition of the ACCA Designation in Bermuda will serve to open doors for Bermudians who wish to pursue a future in professional accounting without having to leave the island.

“As a profession that is heavily reliant on non-Bermudian accountants, it was critical to the government to ensure avenues are open to Bermudians who wish to join the accounting profession.

“I thank all that have been involved since 2009 to get this done, and I look forward to expanding the Bermuda College’s relationship with the ACCA which will ensure that Bermudians can achieve their professional accounting designation right here in Bermuda.”

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