Icatt - Port of Spain, Trinidad and Tobago

The Institute of Chartered Accountants of Trinidad and Tobago (ICATT) was established by Act 33 of Parliament in 1970. Prior to the establishment of ICATT, there was the Trinidad and Tobago Association of Chartered and Certified Accountants, a small association of professional accountants qualified by varying accountancy bodies.
Members of the Trinidad and Tobago Association lobbied the government of the day to incorporate a local accountancy body that would be able to set its own examinations and regulations. The origins were humble, but the objective of the association was bold: to forge a new path for the local accountancy profession. Since 1970 ICATT, as the Regulator of the accountancy profession in Trinidad and Tobago, has responsibility for the training, development and  

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sustainability of the accounting profession through education and the lobbying of government on matters of interest to the profession.
In 2015 ICATT adopted the Code of Ethics for Professional Accountants in replacement of the Rules of Conduct. The 2022 IESBA Code of Ethics for Professional Accountants which replaces the 2021 Code of Ethics is being applied for all monitoring visits undertaken from December 2022.
The Institute is governed according to approved Rules and Regulations agreed by the membership.
ICATT is led today by a Council comprised of volunteers who are persons nominated from the general membership. The Council is elected at the Annual General Meeting and generally represents the various interest groups within the membership employed within the ‘Big Four’ firms, by Small and Medium Size Practitioners and professional accountants in business in both the public and private sectors. ICATT’s administrative functions are managed by a Secretariat which also supports the work of the Council and its Committees.
The Institute’s membership is voluntary and stands at more than 1,600 professional accountants spread over four categories, and who operate in all sectors of the economy. Our ethical code promotes Integrity, Objectivity, Professional Competence, Confidentiality and Professional Behaviour among our members. The conduct of the member body is subject to the Rules and Regulations established by the Council and approved by the membership. ICATT supports the continuous development of its members to effectively manage key areas of business, controls, financial and regulatory obligations.
With the importance of business outcomes to the sustainability of the economy and national development, ICATT’s role is significant. ICATT is a member of the International Federation of Accountants (IFAC) and Trinidad and Tobago was one of the first countries to fully adopt International Financial Reporting Standards (IFRS) in 1999 and IFRS for SMEs in 2010. The Institute also manages a Practice Monitoring Programme which is intended to serve the interest of the public. Practice Monitoring involves visits by a qualified and independent Reviewer to licensed auditors and firms. In the process, audit files are reviewed to verify whether there has been compliance with International Standards on Auditing (ISA). This is an important component of the self – regulatory functions of the accountancy profession in Trinidad and Tobago.
The Institute maintains strategic relationships with a range of stakeholders who include GORTT, state agencies and regulatory bodies, professional business and finance associations. ICATT contributes to the national discussion on issues of finance, and our input as a Regulator is sought to advise on matters of taxation, legislation and the development of the annual national budget. ICATT hopes to forge stronger relationships with our members and our key stakeholders in order to strengthen the profession and provide a voice on key topical matters that face our business community and economy.