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ARTICLE · 02 FEBRUARY 2023

Accountants Act And Regulations Come Into Effect On 1 February

Cayman Islands Government
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Grand Cayman, 31 January 2023 – The Accountants (Amendment) Act, 2022, and two regulations that support its provisions; and The Accountants (Quality Assurance) (Amendment) Regulations...

Cayman IslandsFinance and Banking
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Grand Cayman, 31 January 2023 – The Accountants (Amendment) Act, 2022, and two regulations that support its provisions; and The Accountants (Quality Assurance) (Amendment) Regulations, 2023, will come into effect tomorrow (Wednesday, 1 February 2023).

The Accountants (Amendment) Act is supported by The Accountants (Application for Membership) (Amendment) Regulations, 2023; and The Accountants (Disciplinary) (Amendment) Regulations, 2023. Collectively, they allow the Cayman Islands Institute of Professional Accountants (CIIPA) to continue their effective oversight functions of the local practice of accounting.

The Accountants (Quality Assurance) (Amendment) Regulations, 2023 support the local adoption and practice of new international standards for quality management regarding audits, reviews of financial statement, or other assurance or related services engagements and engagement quality reviews.

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