Chartered accountants from across the region are meeting in Guyana to assess their role given their increased relevance in the context of a world financial crisis and to examine regulatory issues and other matters impacting the profession globally.
The 27th Annual Caribbean Conference opened yesterday at the International Conference Centre, Liliendaal.
Delivering the feature address, Prime Minister Samuel Hinds noted that it was an important time for persons in the profession but a testing time for regional economies.
With reference to the global financial crisis, Hinds noted that much has been said and many perspectives divulged on the issue but in the interest of the strengthening of regulations, the role of persons in the profession would be a major feature.
He said accumulated private investment would have to be supported more by leaders since they would be able to influence the speed by which recovery occurs.
Hinds said he was pleased that the conference was being held in Guyana considering the important role Guyana has in the regional response to the global economic crisis.
He said Guyana’s economy was still considered to be in the developing stage but the country was uniquely positioned to respond to the food crisis. He pointed to the distribution of land at concessional rates to Caribbean countries to promote massive food production in Guyana. He also cited Guyana’s lead role in agriculture.
Meanwhile Hinds also highlighted Guyana’s efforts to advocate a low carbon development strategy in the fight against climate change.
The importance of small and medium enterprises was also stressed at yesterday’s opening. These enterprises could have an impact on the economic recovery of many countries but according to Association of Chartered Certified Accountants (ACCA) President Brendan Murtagh there is need for more support in this regard. He said it was time for this potential to be transformed into a reality and regulations put in place to enable small and medium business owners to promote their enterprises.
The conference is being held under the theme, ‘Reflection for the Future’.
This year’s conference includes presentations on a diverse range of topical business and professional issues.
