Financial secretary, Donald Scott and Registrar of Companies, Stephen Lowe are today in the Cayman Islands for a conference held by the Organisation for Economic Co-operation and Development.

The OECD is an international body which tries to foster good governance in the public sector and in corporate activity. They are running a five day conference called "OECD global forum on taxation joint ad hoc group on accounts. The purpose of the meeting is to begin detailed discussions on the nature and scope of the auditing requirements that are necessary in order for countries to comply with the OECD Exchange of Information Agreements.

Bermuda is not a member of OECD but attends as a colony of the United Kingdom. It joins a host of other jurisdictions at the conference such as Bahamas, British Virgin Islands, Jersey, Japan, Malta, the United States and the United Kingdom.