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Caribbean Association of Audit Committee Members host annual meeting in Saint Lucia

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Contact: Claudia Monlouis


Friday,  July 17, 2009 –  Caribbean auditors recently challenged themselves to remain on the cutting edge of global occurrences in order to better serve their constituents through this difficult era of global financial crisis.


This commitment  was reiterated  at the annual meeting  of the third  Caribbean Association of Audit Committee Members Incorporated (CAACM) conference, which was convened  on July 17, at the Bay Gardens Hotel conference room.


Saint Lucia's Director of Audit, Mrs. Averil James Bonnette.  told fellow auditors  that   the dramatic events surrounding the global credit  crunch,over  the past eighteen months  going into the future should  grab their interest.


“It is profoundly evident that we in the Caribbean and indeed corporations and governments the world over,  are contemplating just what you have chosen as your conference theme—“Our Response to Global Challenges”. Over the past 12 to 18 months, we have seen the collapse of banking and insurance giants worldwide; we have seen  the tanking of what we once considered rock-solid world economies and currencies.”


She added that since the world has not been “business as usual”,  the  conference was coming at a timely juncture, providing a platform  to discuss a  collective  response by  the regional body of auditors.


“As audit committee members and certainly myself as director of audit, we have been charged with the oversight to ensure responsibility. Audit committee members are an important part of a time tested system of  checks and balances. It is not just the duty of audit committee members to raise the proverbial yellow flag where an error or inconsistency is noticed. More than that, it is their duty, and in this era certainly their renewed duty, to intently and actively review the corporate structure.”


The  Caribbean Association of Audit Committee Members Incorporated  conference which ended on Sunday, July 19, held  its  regional conference in Saint Lucia for the third time.

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