Institute of Chartered Accountants of Barbados (ICAB) ICAB was established by the Institute of Chartered Accountants of Barbados (Incorporation) Act 1974. Membership of the institute is mandatory to offer accountancy services to the public. ICAB represents Chartered Accountants along with students pursuing professional accounting qualifications. According to the legislation, ICAB has the responsibility to: (i) promote, foster and maintain the highest standards of accounting in public practice, the public service and commercial and industrial spheres; (ii) safeguard and enhance the professional standing, interest and reputation of accountants who are members thereof and are employed in the spheres specified above; (iii) maintain the highest standards of professional etiquette and ethics amongst its members and encourage the observance of such standards among non-members; and (iv) express its views to the Government, public authorities, commissions of enquiry and similar bodies regarding matters affecting its members and the profession. In addition to being a member of IFAC, ICAB is also a member of the Institute of Chartered Accountants of the Caribbean.