ACCA and CXC® Renew Memorandum of Understanding

Students at the secondary level, accounting teachers and future finance professionals across the Caribbean will benefit from the renewal of a Memorandum of Understanding (MOU) signed 23 September 2020, between the Association of Chartered Certified Accountants (ACCA) and the Caribbean Examinations Council® (CXC®).

In 2017, ACCA and CXC® first embarked on discussions that would generate mutual understanding for both bodies and in which Caribbean Secondary Education Certificate (CSEC®) Principles of Accounts and Caribbean Advanced Proficiency Examination® (CAPE®) Accounting students and their teachers, would benefit from an agreement between both bodies. Over the three-year period of the MOU, ACCA and CXC® have carried out a number of joint initiatives. These have included:

  • CAPE® Accounting teachers’ workshops on select topics from CXC® subject reports. These workshops were designed to equip CAPE® Accounting teachers with the requisite competencies to enhance the facilitation of the CAPE® Accounting Syllabus;
  • Prize winner recognition and internship opportunities for top performing CSEC® and CAPE® students;
  • Syllabus mapping against the Foundation level and ACCA qualification in order to identify areas in which the syllabus may be more robust;
  • Support of the CXC® annual regional top awards ceremony; and
  • Advertising and marketing support of various CXC® online media.

The new MOU will be renewed for another three-year period. In addition to the areas of co-operation covered in the previous MOU, the renewed agreement also makes provisions for resources for the development of content on CXC’s online platforms; technical support by ACCA members to CAPE® teachers and students during classroom sessions and internship opportunities for each of the top performing CAPE® students in the major markets of Trinidad, Jamaica, Guyana and Barbados.

Shelly-Ann Mohammed, head of ACCA Caribbean who signed on behalf of ACCA, expressed her pleasure that the MOU was being renewed and commented, “Partnerships are key to the sustainability of ACCA and is at the heart of what we do as an organisation. We are committed to the development of students at the secondary level, who are the future finance professionals of the region. We are confident that the resources, competency and services that we have at our disposal, will significantly provide the pathway for young people with an interest in business and finance. We are pleased to collaborate again with CXC® towards the realisation of that objective.”

Dr. Carol Granston, Pro-Registrar and Deputy CEO of the CXC®, noted that, “For over 40 years, CXC® has contributed to the development of the region’s human capital through its syllabuses and assessment that focus on the development of critical competencies and 21st Century skills which are fundamental for the world of work and further study. The first three years of partnership with the ACCA has supported our mandate to provide current and relevant syllabuses and implementation support for teachers and learners.  We are confident that the extension of this MOU for an additional three years will have a positive impact on a new cohort of accounting students and practitioners.”

About ACCA:

ACCA is the Association of Chartered Certified Accountants. We’re a thriving global community of 227,000 members and 544,000 future members based in 176 countries and regions that upholds the highest professional and ethical values.

We believe that accountancy is a cornerstone profession of society that supports both public and private sectors. That’s why we’re committed to the development of a strong global accountancy profession and the many benefits that this brings to society and individuals.

Since 1904 being a force for public good has been embedded in our purpose. And because we’re a not-for-profit organisation, we build a sustainable global profession by re-investing our surplus to deliver member value and develop the profession for the next generation.

Through our world leading ACCA Qualification, we offer everyone everywhere the opportunity to experience a rewarding career in accountancy, finance and management. And using our respected research, we lead the profession by answering today’s questions and preparing us for tomorrow.  Find out more about us at accaglobal.com

About the Caribbean Examinations Council®

The Caribbean Examinations Council® (CXC®) was established in 1972 under Agreement by the Participating Governments in the Caribbean Community (CARICOM). CXC® assures the global human resource competitiveness of the Caribbean through the provision of syllabuses of the highest quality; valid and reliable examinations and certificates of international repute for students of all ages, abilities and interests; services to educational institutions in the development of syllabuses, examinations and examinations’ administration, in the most cost-effective way.

CXC® comprises 16 Participating Countries: Anguilla, Antigua and Barbuda, Barbados, Belize, British Virgin Islands, Cayman Islands, Dominica, Grenada, Guyana, Jamaica, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Trinidad and Tobago and Turks and Caicos Islands.

The first examinations for the Caribbean Secondary Education Certificate® (CSEC®) were offered in 1979 in five subjects. Subsequent to CSEC®, CXC® has introduced a comprehensive suite of qualifications to meet the needs of the region: Caribbean Primary Exit Assessment™ (CPEA™), Caribbean Certificate of Secondary Level Competence® (CCSLC®), *Caribbean Vocational Qualification (CVQ), Caribbean Advanced Proficiency Examination® (CAPE®) and the CXC® Associate Degree (CXC®-AD).

The organisation also collaborates with countries in the Dutch Caribbean – Curaçao, Saba, St Eustatius and St Maarten, as well as Suriname.

Additional information about the Caribbean Examinations Council® can be found at www.cxc.org

*Caribbean Vocational Qualification (CVQ) is the trademark of the Caribbean Association of National Training Authorities. CXC® is one of the National Training Agencies in the Caribbean which awards CVQs.