The Caribbean Association of Audit Members Inc. (CAACM) was established in June, 2006 with its overall objective of improving the investment environment in the Caribbean region, and increasing investor confidence in the integrity of financial reporting and investor information through the continuous development of audit committee members.
15 years later, in June 2021, the members of CAACM voted to wind up and dissolve the organisation. This was agreed at an extraordinary virtual meeting on Wednesday, 16 June.
Over the life of the Association, the Board of Directors noted that the regulatory and reporting landscape for companies has changed dramatically. As such, CAACM had responded by re-focusing on issues of governance and risk management in financial reporting as it pertains specifically to Audit Committees and to the wider Board in general.
Formed under the umbrella of the Caribbean Association of Banks (CAB) Inc., CAACM has provided training to audit committee members and practitioners through its annual conference and numerous webinars on topics that are germane to their respective roles.
Thaddeus M. Antoine, Esq. has been appointed as the liquidator, and PKF have been appointed auditors for the purpose of concluding the work of CAACM.