Bahamas Institute of Chartered Accountants
About BICA

History of BICA

The Bahamas Institute of Chartered Accountants ("BICA"/"The Institute") was incorporated on August 6, 1971. The move to form an association to oversee the development of the professional accounting industry in the Bahamas started back in 1965.

Upon completion of their professional examinations in London, England, Basil Sands, Maitland Cates and Clifford Culmer began discussions in 1965 to form an association of professional accountants in the Bahamas. Over the next several years after these three individuals returned home, many others including McGregor Robertson, Ronald Atkinson, Franklyn Wilson, Don Britchford, Leslie Cropper and Barry Nottage added to the discussion. These persons eventually became an organized committee. Using information obtained from other international Institutes and their own professional experiences, this Committee drafted by-laws and rules to govern the association. These by-laws would form the basis for establishing a framework that would grow into the current structure of The Bahamas Institute of Chartered Accountants.

Over the next two decades the Institute continued its growth and the advancement of public accounting in the Bahamas. The next major milestone in the Institute's history came in 1991 with the enactment of legislation that empowered the Institute to properly regulate and govern the public accounting industry

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Important Dates:

  • 1965 - Messrs Basil Sands, Clifford Culmer and Maitland Cates commenced the formation of BICA
  • August 6, 1971 - BICA was incorporated
  • 1971 - Mr. Basil Sands was elected the first President of BICA.
  • 1978 - BICA became a member of the International Federation of Accountants ("IFAC")
  • 1984 - Mrs. Clarita Lockhart was elected the first female President of BICA
  • October 28,1988 - BICA became a member of The Institute of Chartered Accountants of The Caribbean ("ICAC")
  • July 17, 1991 - The Public Accountants Act 1991 was enacted by the Parliament of The Bahamas.
  • June 12, 2015 - The Bahamas Institute of Chartered Accountants Act, 2015 was enacted by the Parliament of The Bahamas.

Rules & Regulations

Visit our library of the rules, regulations and legislation governing the accounting industry and accounting best practices in The Bahamas

Download Library

Catch up on past reports, presentations, Annual Reports and other useful documents in our archive library.

Membership

Learn the benefits of becoming a BICA Member, and download the application forms to start the process.