ICAB President Comments on the Throne Speech presented by
the Governor General of Barbados on September 15, 2020



Barbados and the rest of the world are currently grappling with the COVID-19 pandemic.  As we navigate during this uncertain and disruptive situation, 
ICAB will be following the implementation stages of the National COVID-19 Preparedness Plan published by the Government of Barbados (GOB).  

Guidance from the Government of Barbados will continue to be monitored and protocols will be updated and communicated accordingly.

You are reminded to follow the official guidance of the GOB, the World Health Organization (WHO), and other recognised health agencies.

Until further notice our office will operate remotely.

Contact information
The Institute's office number (246) 429-5678 will be forwarded to one of the members of the Secretariat, however one of the members of the Secretariat may be contacted directly as follows:
 - Kathy-Ann Hewitt, Executive Director: kathy-ann.hewitt@icab.bb or (246) 243-5054
 - Lesah Denny-Brathwaite, Assistant Director: lesah.denny-brathwaite@icab.bb or (246) 231-7658
 - Irene Harper, Office Assistant: irene.harper@icab.bb or admin@icab.bb
 - Mariette Philips, Secretary:mariette.philips@icab.bb  or admin@icab.bb
 - Althea Springer, Administrative Assistant: althea.springer@icab.bb or admin@icab.bb

Payments
Payments may be made using one (1) of the following methods:
1.  Making an online transfer to ICAB's bank account
     Bank:                       RBC Royal Bank
     Branch:                   Lanterns Mall
     Account Holder:   Institute of Chartered Accountants of Barbados
     Transit #:                09545 or 00003 (differs depending on your bank)
     Account #:             1104041

2. Mailing a cheque to:
     ICAB
     C/o P.O. Box 168W
     Worthing Post Office
     Worthing Christ Church

Once you have transferred funds or mailed a cheque, a confirmation email stating name, date, purpose of payment and method of transmission (bank transfer/mail) should be sent to admin@icab.bb



Our best wishes to you and your families to stay safe and healthy.


COVID- 19 Reference Material for Members from IFAC and other Sources

IFAC:   https://www.ifac.org/knowledge-gateway/discussion/covid-19-resources-ifacs-network

Please note that in addition to the above link, IFAC has also made available resource material which has been sorted by topic areas (ie auditing, financial reporting…)

Deloitte IFRS in Focus Article:   https://www.iasplus.com/en/publications/global/ifrs-in-focus/2020/credit-loss-covid-19

Expected credit loss accounting considerations related to Coronavirus Disease 2019 -

IAASB:   http://www.iaasb.org/focus-areas/guidance-auditors-during-coronavirus-pandemic

IAASB Staff Audit Practice Alert (March 2020) | Highlight Areas of Focus in an Evolving Audit Environment Due to the Impact of COVID-19

AASB:   https://www.aasb.gov.au/admin/file/content102/c3/AASB19009_COVID19

AASB−AUASB JOINT FAQ -  The Impact of Coronavirus on Financial Reporting and the Auditor’s Considerations  

FA.pdf  

ESMA:   https://www.esma.europa.eu/press-news/esma-news/esma-issues-guidance-accounting-implications-covid-19  

ESMA ISSUES GUIDANCE ON ACCOUNTING IMPLICATIONS OF COVID-19 - Accounting implications
of the COVID-19 outbreak on the calculation of expected credit losses in accordance with IFRS 9

ICAEW:   https://www.icaew.com/insights/features/2020/mar-2020/coronavirus-going-concern-and-the-auditors-report  

ICAEW Coronavirus, going concern and the auditor’s report

ACCA:   https://www.accaglobal.com/gb/en/cam/coronavirus/practitionerv-covid19.html  

ACCA practitioners discuss how they are changing the way they serve their clients in light of Covid-19

ACCA Maintaining your mental wellbeing while social distancing

https://www.accaglobal.com/gb/en/cam/coronavirus/robyeung1-covid19.html 

CPA :   https://www.icc-ccs.org/index.php/1288-coronavirus-investment-fraud-and-cyber-scam-warnings  

CPA  - Coronavirus: Investment fraud and cyber scam warnings

McKinsey & Company:   https://www.mckinsey.com/business-functions/risk/our-insights/covid-19-implications-for-business?cid=other-eml-alt-mip-mck&hlkid=3c51ad24523e42368e748a89f1a97e3a&hctky=2665746&hdpid=5050ca14-6551-46ec-b11f-d856171a3253

McKinsey & Company - COVID-19: Implications for business

AUDIT FIRMS

EY - Applying IFRS - Accounting considerations of the coronavirus outbreak

https://www.ey.com/en_gl/ifrs-technical-resources/applying-ifrs-accounting-considerations-of-the-coronavirus-outbreak  

Deloitte - IFRS in Focus Accounting Considerations Related to Coronavirus Disease 2019 

https://www2.deloitte.com/content/dam/Deloitte/ng/Documents/audit/ng-IFRS-in-Focus-Coronavirus-Disease%202019.pdf  

Grant Thornton COVID-19: Financial Reporting and Disclosures

https://www.grantthornton.global/globalassets/1.-member-firms/global/insights/insight-content-blocks-and-media/covid19
-financial-reporting-
and-disclosures/covid-19-financial-reporting-and-disclosures.pdf
  

KPMG - COVID-19 | Financial reporting Resource centre on the financial reporting impacts of coronavirus 

https://home.kpmg/xx/en/home/insights/2020/03/covid-19-financial-reporting-resource-centre.html  

PwC -  Accounting implications of the effects of coronavirus

https://www.pwc.com/m1/en/publications/covid-19/in-depth-look-at-current-financial-reporting-issues.pdf  

PwC - COVID-19: top 5 IFRS accounting issues for banks

https://www.pwc.com.au/assurance/ifrs/assets/covid19-top-5-ifrs-accounting-issues-for-banks.pdf  

PwC - COVID 19 Navigator which is a tool to help organisations assess their response capabilities to COVID-19

 COVID 19 Navigator    

BDO Covid-19 | The Impact on Valuations

https://www.bdo.ie/en-gb/news/2020/covid-19-the-impact-on-valuations  

Three of Big Four provide briefing on supply chain disruption:

https://www2.deloitte.com/global/en/pages/risk/articles/covid-19-managing-supply-chain-risk-and-disruption.html

https://www.ey.com/en_gl/advisory/how-to-build-a-supply-chain-thats-resilient-to-global-disruption  

https://www.pwc.com/gx/en/issues/crisis-solutions/covid-19/protecting-your-supply-chain.html

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