New CISPA president elected

The Cayman Islands Society of
Professional Accountants elected Norm McGregor as the organisation’s new
president at its annual general meeting.

The event at the Ritz-Carlton which
was attended by approximately 130 CISPA members also saw the election of new CISPA
council members. The members confirmed Rohan Small as Secretary and Charles
Bolland as Treasurer, who both will continue in their respective positions. Jeff
Short was elected vice president.

Outgoing CISPA President Frazer
Lindsay summarised the issues the national regulatory accounting body faced
during the past year.

Much of the work, in conjunction
with government and CIMA representatives, centred on the development of an
Auditor Oversight Body, Mr. Lindsay said.

CISPA had submitted an
implementation proposal and sought the involvement of the Canadian Public
Accountability Board in the new body, he said.

The other larger project was to
CISPA’s effort to obtain full IFAC membership and the conception of an action
plan to this effect.

New President Norm McGregor, an
audit partner with Deloitte, said the focus during his presidency will be to
further CISPA’s regulatory and educational objectives as well as the promotion
of the accountancy profession in Cayman through local initiatives.

The design and implementation of a
new oversight body for the profession in the Cayman Islands will continue to
require much of the organisation’s resources during the year, Mr. McGregor
said.

Given the organisation’s “size and
stature”, Mr. McGregor added, CISPA sees its role “in assisting the government
and CIMA in responding to local and international developments”.