The Institute of Chartered Accountants of the Eastern Caribbean (ICAEC) was launched on June 17, 2004 after the agreement was ratified by several parliaments in the Eastern Caribbean, including Grenada, Montserrat St. Kitts-Nevis, St. Lucia and Antigua-Barbuda.
Those territories with active accounting bodies at the time later became the first members of the Institute. These Institutes were from the territories of St. Kitts-Nevis, St. Lucia and Antigua-Barbuda.
Following the launch of the Institute each of the founding members established branches. In Antigua and Barbuda the Institute became known as the Institute of Chartered Accountants of the Eastern Caribbean (Antigua and Barbuda Branch).
The main objectives of the Institute are as follows:
• to promote, foster and maintain the highest standards of accounting in public practice, the public service and the commercial and industrial spheres;
• to promote and increase the knowledge, skills and proficiency of its members and students of accountancy
• to provide facilities for the study of accountancy and make provision for the examinations of persons pursuing courses in accountancy
• to subscribe to, join, and associate with any body or professional organization in any member state or elsewhere whose objects are similar to furthering the interests of the profession;
• to safeguard and enhance the professional standing, interest and reputation of its members employed in public and private practice;
• to regulate the ethics, etiquette, discipline, professional conduct and standards of its members and students of accountancy
• to express its views to government, public authorities, other professional organizations and any other body regarding matters affecting its members and the profession
• to promote and protect the welfare and interest of the Institute and the accounting profession in the member state
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