An accounting designation can take you anywhere in the world. Every business needs an accountant - audit firms, banks, entertainment companies, technology companies, schools, government, non-profit organisations. With an accounting designation you can work right here in Cayman, where there are many opportunities in both international financial services and the wider business community, or work in any industry anywhere in the world.
Accounting can be divided into six main areas: financial accounting, management accounting, auditing, tax accounting, fund accounting, and forensic accounting. In the Cayman Islands, accountants serve three main financial services industries which are inter-linked: banking, funds, and insurance. Funds provide fees and deposits to banks and offer investments for insurance. Banks conduct the transactions for funds and insurance companies, and provide administration and custody services for funds. Insurance provides investments in funds, as well as fees and deposits to banks. The public practice accountants - or auditors - ensure all transactions are being carried out to the highest quality and ethical standards, and the appropriate accounting principles are followed.
No matter what stage you are at in the process, we will be with you every step of the way.
Start by thinking about which designation you would like to pursue, and research schools. Create an education plan outlining what courses you will take in secondary school to assist with your tertiary education. Consider if you want to stay in the Cayman Islands or study abroad. Research and apply for scholarships and grants. Some scholarships require that you already be accepted into a University or study programme so be sure to plan accordingly.
The two most common designations Cayman Students pursue are the American CPA and the ACCA.
The average time to qualification for the US CPA is 2 to 3 years and the average time for ACCA is 3 to 4 years, but this will depend on the level of education achieved. Learn more about these qualifications by visiting American Institute of Chartered Accountants and Association of Chartered Certified Accountants.