Institute of Chartered Accountants of Trinidad and Tobago
Encyclopedia
The Institute of Chartered Accountants of Trinidad and Tobago (ICATT) is a professional accountancy
body in Trinidad and Tobago
. It is the sole organization in Trinidad and Tobago with the right to award the Chartered Accountant
designation.
ICATT is a member of the Institute of Chartered Accountants of the Caribbean
.
ICATT is also a member of the International Federation of Accountants
(IFAC).
Trinidad and Tobago was one of the first countries to fully adopt International Financial Reporting Standards
(IFRS) in 1999.
More recently the country adopted IFRS for SMEs in 2010.
Accountancy
Accountancy is the process of communicating financial information about a business entity to users such as shareholders and managers. The communication is generally in the form of financial statements that show in money terms the economic resources under the control of management; the art lies in...
body in Trinidad and Tobago
Trinidad and Tobago
Trinidad and Tobago officially the Republic of Trinidad and Tobago is an archipelagic state in the southern Caribbean, lying just off the coast of northeastern Venezuela and south of Grenada in the Lesser Antilles...
. It is the sole organization in Trinidad and Tobago with the right to award the Chartered Accountant
Chartered Accountant
Chartered Accountants were the first accountants to form a professional body, initially established in Britain in 1854. The Edinburgh Society of Accountants , the Glasgow Institute of Accountants and Actuaries and the Aberdeen Society of Accountants were each granted a royal charter almost from...
designation.
ICATT is a member of the Institute of Chartered Accountants of the Caribbean
Institute of Chartered Accountants of the Caribbean
The Institute of Chartered Accountants of the Caribbean is an association of accounting organizations in the Caribbean region that promotes professionalism and standards of best practice in the region.-Purpose:...
.
ICATT is also a member of the International Federation of Accountants
International Federation of Accountants
International Federation of Accountants is the global organization for the accountancy profession. IFAC has 164 member and associates in 124 countries and jurisdictions, representing more than 2.5 million accountants employed in public practice, industry and commerce, government, and academe...
(IFAC).
Trinidad and Tobago was one of the first countries to fully adopt International Financial Reporting Standards
International Financial Reporting Standards
International Financial Reporting Standards are principles-based standards, interpretations and the framework adopted by the International Accounting Standards Board ....
(IFRS) in 1999.
More recently the country adopted IFRS for SMEs in 2010.