Our History

The Bahamas Institute of Chartered Accountants (“BICA” or “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.

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.
February 24, 2016 The Bahamas Institute of Chartered Accountants (General) Regulations, 2016, The Bahamas Institute of Chartered Accountants (Disciplinary) Regulations, 2016 and The Bahamas Institute of Chartered Accountants (Committees) Regulations, 2016 were enacted by the Parliament of The Bahamas.