The Cayman Islands Institute of Professional Accountants has elected a new president and three new members to its council.

The new leadership was voted in at the professional accounting organisation’s annual general meeting. Chris Gauk succeeds Joel Dodson as president, while Francois Lamontagne takes over the role of vice president and James George remains as secretary.

During the AGM, CIIPA highlighted its accomplishments during 2018, including the provision of more than 100 hours of professional development in 20 training courses, the two-day AICPA CIIPA Summit, as well as raising $11,000 for local charities through CIIPA social events.

CEO Sheree Ebanks provided a snapshot of the current membership noting, “Sixty-one percent of our members are professional accountants in business who are engaged in a number of different sectors.”

She also discussed the launch of the Accountants in Business Committee in May 2018, “to ensure the organisation is engaging with and serving all of its members’ needs”.

The organisation’s Careers and Mentoring Committee continued to support developing future talent in 2018 with a new cohort of 19 mentors, who worked with accounting students from ICCI and UCCI. Mentors were provided training on mentoring and coaching skills, and students went through an orientation to facilitate maximising the impact of the experience, CIIPA said in a press release.

Incoming president Gauk discussed key areas of focus for the year ahead including AML/CFT supervision and IFAC’s International Code of Ethics for Professional Accountants.

“The code comes into effect this June, and we are rolling out focussed communications to our members around the changes, and what that means in terms of our day-to-day work,” Gauk said.

He said the CIIPA Council will review the organisation’s governance structure and revisit key strategic objectives with a focus on purpose and the next stages of development as a professional accounting organisation.