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Career Readiness Paper

Cayman Island Institute of Professional Accountants (CIIPA)

Sharmori Richardson
International College of the Cayman Islands (ICCI)

BI-104
Instructor: Melody Protacio
Due date: December 11th, 2016

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After the Price Water House Coopers presentation, there was a presentation from

members of the Cayman Islands Institute of Professional Accountants (CIIPA). The presenters
for this presentation was Natasha Playne and Tallyn Mctaggart. They first started off by stating
the responsibility of the Cayman Islands Institute of Profession Accountants, which is to
"monitor and license all accounting practitioners within the Cayman Islands" (CIIPA, n.d.).
Following the responsibility of the organization, the presenters changed the slide to the
key milestones for CIIPA. Because it was so much information, the presenters informed us that
the information was on the CIIPA website. According to CIIPA (n.d.), the Cayman Islands
Institute of Professional Accountants formerly known as Cayman Islands Society of Professional
Accountants (CISPA), was created in 1970 by a small group of pioneers in the accountancy
field in the Cayman Islands. In 2007 the Public Accountants Law and its associated regulations
ushered in a new era of regulatory oversight of the accounting profession in the Cayman Islands
(CIIPA, n.d.). This year was the year that the organization was issued as a non-profit
organization. In 2013 CIIPA obtained membership from the International Federation of
Accountants, which is a worldwide organization representing the accountancy profession
(CIIPA, n.d.). Last but not least in 2016, the name changed from the Cayman Islands Society of
Professional Accountants (CIIPA) to the Cayman Islands Institute of Professional Accountants
(CIIPA). The name change was to reflect the regulatory and educational roles the organization
plays in furthering the accounting profession and protecting the reputation of the jurisdiction
(CIIPA, n.d.). After hearing about the major events that happen for this organization, it shows
that they are committed to making the Cayman Islands accounting sector one of the best in the
worlds financial services.

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The next slide briefly talked about the five strategic objectives, which relates to the

mission statement of the accounting organization. The first strategic objective is to be a trusted
and valued brand locally; to bring awareness of the CIIPA brand regionally and internationally
(CIIPA, n.d.). The second objective is to provide membership development and support
(CIIPA, n.d.). The third objective is to promote high-quality practices by the accounting
profession locally (CIIPA, n.d.). The fourth objective is to support growth and development of
all sectors of the Cayman Islands, and the fifth objective is to be an active and credible
contributor on issues affecting the Cayman Islands and the accounting profession globally
(CIIPA, n.d.).
CIIPA proves that they follow their objective by donating and assist in the educational
growth in the Cayman Islands. One way they assist in educational growth is offering free student
memberships and mentorships in the Cayman Islands. I am apart of these two student activities.
For the mentorship, you have to fill out a survey that consists of questions that relate to your
personality and interest. After the completion of the study, CIIPA will peer you up with an
accounting mentor that has the same interests as you. My experience in this program has open
my mind more to the world of accounting. My mentor, Mr. Chad Smith, has taught me things
that I never learned in my accounting courses. I am grateful for the opportunity to take part in
their mentorship program and their student membership program.
In conclusion, CIIPA has already helped me in the preparing for the Cayman Islands
accounting field. With their programs for students and their vast amount of knowledge in
accounting, I feel that students should look more into this organization to expand their
knowledge of the accounting world. As a result of this presentation, I learned more about the

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organization, which makes me interested in staying in their membership and mentorship program
and to participate in upcoming events.

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REFERENCES

CIIPA . (n.d.). About Us. Retrieved from Cayman Islands Institute of

Professional Accountants: https://www.cispa.ky/aboutus
CIIPA. (n.d.). CIIPA's Five Key Strategic Objectives: . Retrieved from CIIPA:
https://www.cispa.ky/objects&strategy