CIIPA: The Changing Face Of Accountancy

Sheree Ebanks explains how the Cayman Islands Institute of Professional Accountants has evolved since its inception.

HUMBLE BEGINNINGS

Our financial world isn't as new as we perhaps think it is. In fact, the moment early civilisations learned to exchange commodities, the concept of finance was born.

Advances in writing, mathematics, and currency in ancient Egypt led to the development of early accounting, and in 1494 a 27-page thesis on double-entry system bookkeeping was published for Venetian merchants. Simply titled "Details of Calculation and Recording", the book arguably played a major factor in laying down the foundation for modern day accounting. And the rest, as they say, is history.