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To enhance the certification and preparation of students in the region for successful careers in finance and accounting, the Caribbean Examinations Council (CXC®) and the Association of Chartered Certified Accountants (ACCA) have renewed their Memorandum of Understanding (MoU).
The MoU was signed on 27 June 2024 at CXC® headquarters in Barbados by Dr. Wayne Wesley, Registrar and CEO of CXC®, and Paula Marcelle-Irish, Regional Head of ACCA Caribbean, marking the seventh year of a long-standing partnership between the two organisations. The MoU aims to facilitate knowledge sharing to improve the quality of curriculum development, delivery and assessment of accounting and taxation courses in the region’s education and training systems.
“This is the third time we have renewed this MOU, the first being signed in 2017 and the second in 2020”, said Dr. Wesley. “We believe that by working together we can leverage the collective expertise of both our organizations for the benefit of our students and thereby enhance professional standards across the Caribbean”, he added.
The renewal of the partnership has also been hailed as a progressive step towards building a strong financial ecosystem in the Caribbean, solidifying the key role of accounting and taxation in regional development.
Highlighting the importance of the partnership, Paula Marcelle-Irish said: “This collaboration will have far-reaching impact and will greatly benefit students across the Caribbean. By continuously training in international best practices, our students will be equipped with the necessary skills and capabilities to become the leading accounting and finance professionals of the future, driving economic integration and development in our region.”
The CXC®-ACCA MoU outlines several key objectives, including:
• Enhance professional training through seminars and courses to provide world-class best practice training to accountants and tax professionals in the Caribbean. Developed in conjunction with CXC®, these courses will be tailored to ensure students receive the highest standards of professional practice and ethics training.
• Facilitate knowledge sharing between the two organizations, including the exchange of expertise, resources, and best practices to enhance the overall capabilities and capacity of professionals in the field.
• Develop professional curricula and launch collaborative programs for teacher training.
• Develop and upgrade curriculum to prepare area students for success in the finance and tax fields.
• Strengthening institutional capacity through ongoing technical exchanges; and
• Conduct a joint programme of continuing professional development and training to raise awareness of the importance of sound financial management and tax compliance training.
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