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Establishment, Vision, Mission and Objectives

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:

Bullet Point #1

#1

To regulate the ethics, discipline, professional conduct and standards of its members and students.

Bullet Point #2

#2

To promote and increase the knowledge, skill and proficiency of its members and students.

Bullet Point #3

#3

To promote and protect the welfare and interest of the Institute and the accountancy profession in Belize.

Bullet Point #4

#4

To make provision for the training, education and examination of persons engaging in or intending to engage in the said profession.

Bullet Point #5

#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.

Bullet Point #6

#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.

Bullet Point #7

#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

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

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

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

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

Jose Ortez, CA, ACCA

Vice President

There is no biography for this individual on file at this time.

Senaida Castillo

Senaida Castillo

Treasurer

There is no biography for this individual on file at this time.

Dorita Herrarte

Dorita Herrarte

Member

There is no biography for this individual on file at this time.

The Institute is a member of the Institute of Chartered Accountants of the Caribbean (ICAC), a regional accountancy body "dedicated to advancing the interest of accountants within the Caribbean through the promotion of internationally acceptable standards and best practices, thought leadership, research and continuing professional development."

Standards and Code adopted by the Institute includes the International Financial Reporting Standards and the International Standards on Auditing and Code of Ethics of the International Federation of Accountants.

Services to be provided by the Institute:

  • Training/education/continuing education/assisting students
  • Membership Certification/Criteria/Practice monitoring
  • Membership/Student Support Services/Benefits
  • Administration support for partnership Institutions
  • Research and development / Standards setting & adoption
  • Disciplinary/regulation/ complaints investigation Advocacy Services.

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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