The Institute of Chartered Accountants of Belize (ICAB) was established by the Accountancy Profession Act in November 1, 1984. ICAB's vision is to build a cohesive accountancy body of professionals, of the highest technical competence and integrity to promote and protect the public good. The Institute's mission is to promote, foster and maintain international standards of accounting and to safeguard and enhance the professional standing and reputation of members.
As the governing authority for chartered accountants in Belize, the objectives of the Institute, as established in the Belize Accountancy Profession Act are:
Establishment, Vision, Mission and Objectives
#1
To regulate the ethics, discipline, professional conduct and standards of its members and students.
#2
To promote and increase the knowledge, skill and proficiency of its members and students.
#3
To promote and protect the welfare and interest of the Institute and the accountancy profession in Belize.
#4
To make provision for the training, education and examination of persons engaging in or intending to engage in the said profession.
#5
To advise and assist the Government of Belize, statutory bodies, educational or charitable institutions, trade unions, business and other professional organizations upon any question within the province of the profession.
#6
To promote and foster relations with other professional bodies in Belize and elsewhere for the purpose of better achieving the objects of the Institute, and to subscribe to and join or associate with regional and other national professional organizations whose objects are not inconsistent with those of the Institute.
#7
To do all things which are incidental to the aforesaid objects or which the Institute may think conducive to the attainment of those objects or any of them.
Executive Committee
The Institute is governed by an executive committee consisting of seven (7) members who are elected by members at an annual general meeting. The activities of the Institute are carried out by a Secretariat and technical sub-committees. The current executive committee members were elected at the 28th Annual General Meeting held on November 17th 2015 at the Best Western Biltmore Plaza Hotel, Belize City, Belize.
Brett Feinstein, CA
President
Mr. Feinstein is the Managing Director of Benny’s Enterprises Ltd in Belize. Since passing the Uniform Certified Public Accounting Exam in November 1997 and qualifying as a CPA in the state of Maryland, Brett subsequently qualified as a chartered accountant in 2001. Brett Feinstein also has serves as an Independent Director of hedge funds with various investment strategies, the scope of which include, but are not limited to the trading of futures and options, derivatives, foreign exchange and transactions in commodities. Brett’s other experiences include complex company acquisitions, managing the finance and operations aspects of various companies, restructuring, establishment of accounting systems, design, development and reorganization of database systems.
Brett also has experience teaching Managerial Finance to university students. He is noted for successfully improving existing systems and processes, surpassing benchmarks, and effectively elevating the learning goals of Managerial Finance. Brett has served the Council of the Institute of Chartered Accountants Belize in the capacity of President, Vice President, Treasurer and has been a council member of the Institute of Chartered Accountants Belize since 2003. He is an alumnus of Stetson University in Florida where he graduated Manga Cum Laude and was inducted into the Honors Fraternity Beta Gamma Sigma.
Claude Burrell, CPA, CISA
Secretary
Claude has served on the Council for the Institute of Chartered Accountants of Belize in various capacities since 2003, including two terms as President. He currently serves as the country’s Director on the Board of the Institute of Chartered Accountants of the Caribbean. His community involvement includes serving as the Treasurer for the Belize/Honduras District of the Methodist Church as well as on the boards of various educational institutions.
Claude is the Managing Partner of Grant Thornton in Belize. He is a Chartered Accountant and a Certified Information System Auditor. He has over twenty years’ experience gained locally and abroad, in audit and consulting, across a wide range of industries including banking and finance, retailing, manufacturing, agriculture, and tourism and hospitality.
Reynaldo Magaña, CA, CPA
Member
Reynaldo is an accomplished professional auditor and accountant and has gained 20 years overall experience in audit, tax, accounting, and business advisory field. Reynaldo has been instrumental in the transformation of a local practice previously known as R F Magaña & Associates (2004-2011) into an internationally renowned Audit and Accounting Service provider - Moore Stephens Magaña LLP, Belize since October 2011 to present. Additionally, since 2006, Reynaldo through an affiliate enterprise, is fully vested in the International Financial Services (IFS) Industry in Belize and has contributed to the overall growth of the Sector during that time.
He currently holds a valid practicing CPA license from the State of Michigan USA and valid Practicing License from the Institute of Chartered Accountants of Belize (ICAB); and is also a Member of the American Institute of Certified Public Accountants and the Association of Certified Fraud Examiners. He holds a Bachelor’s Degree in Business Administration / Accounting from the University Of Detroit Mercy and a Master’s in Business Administration Degree with concentration in Finance and Accounting from Regis University.
Reynaldo currently is the President of the Belize International Financial Services Association (BIFSA) and is also the immediate Past President of ICAB and a current Council member of ICAB. He has served on the Council of ICAB since 2006. In January 2018, Reynaldo was appointed to the IFS Commission where he will serve as Commissioner for the period 2018 to 2020. During 2014-2016, Reynaldo served as Vice President of Services in the Belize Chamber of Commerce and Industry and also as Director and alternate Director in the Institute of Chartered Accountants of the Caribbean representing the interest of ICAB in the Caribbean Region.
Elmer Murray, CA
Member
Mr. Murray gained eight years experience in the Audit and Business Advisory field while employed at PKF Belize as a senior auditor. During early 2015, he joined the Roe Group of Companies as Senior Financial Controller.
He is an active member of the ACCA and the Institute of Chartered Accountants of Belize.
Jose Ortez, CA, ACCA
Vice President
There is no biography for this individual on file at this time.
Senaida Castillo
Treasurer
There is no biography for this individual on file at this time.
Dorita Herrarte
Member
There is no biography for this individual on file at this time.
Goals
2017 June 09
The goals of the Institute, which are geared toward the furtherance of the accounting profession in Belize, ought to embrace the Statements of Membership Obligations (SMOs) set by the International Federation of Accountants (IFAC) for its member bodies and affiliates. ICAB seeks IFAC membership or affiliation as one of its objectives.
2017 June 09
The SMOs address the issues of: Quality Assurance (SMO 1), International Education Standards for Professional Accountants (SMO 2), International Standards on Auditing (SMO 3), Code of Ethics for Professional Accountants (SMO 4), International Public Sector Accounting Standards (SMO 5). Investigation and Discipline relating to misconduct (SMO 6), International Financial Reporting Standards (SMO 7).
2017 June 09
The SMOs will seek to promote the work of the Institute throughout Belize, this would by extension aid in the development and maintenance of a reputation in expertise, high quality financial reporting, the integrity and credibility of its members thus fostering public confidence at all levels in society.
ICAB c/o Ms. Linda Muñoz
M-Business Solutions
P.O.Box 1131
101B Freetown Road
Belize City, Belize
Tel: (501) 223-2455
Fax: (501) 223-5424
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ICAB Inquiries: secretariat@icab.bz
Website Issues: icab@bsuit.com
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M-Business Solutions
P.O.Box 1131
101B Freetown Road
Belize City, Belize
Tel: (501) 223-2455
Fax: (501) 223-5424
-------------------------------------------------------
ICAB Inquiries: secretariat@icab.bz
Website Issues: icab@bsuit.com
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