Accountants were given a lesson in amendments to fair value measurement rules at a seminar held by the Association of Chartered Certified Accountants (ACCA) at XL House.

The seminar, which was entitled FAS 157, was presented by Brenda Lee Tang, head of corporate development at ACCA Caribbean, and Paula Marcelle-Irish, manager of ACCA Northern Caribbean, who travelled to Bermuda for the forum.

The event was one of a series of activities organised by ACCA, a global body for professional accountants offering qualifications to those seeking a career in accountancy, finance and management.

The seminar was done in collaboration with the Institute of Internal Auditors (IIA) and was led by IIA president, Colm Homan, and featured talks by Peter Dunkerley and Bayne Carpenter of PWC Bermuda.

Approximately 60 people from industries across the Island attended the event and participated in the discussions on the purpose and scope of FAS 157, Fair Value Framework, and Fair Value under International Financial Reporting Standards, among other topics.

Ms Lee Tang and Mrs. Marcelle-Irish also held meetings with key government officials and educational institutions to promote the Certified Accounting Technician (CAT) Qualification, which has been identified as a viable option for Bermudians who want to start a career in finance or gain recognition for the skills and experience they have already achieved.

About 40 ACCA members attended the a gala wine and cheese event held at Café Re to network and meet Spencer Quarterly, chairman of the voluntary ACCA members group. Newly-installed members, Selorm Ohene and Billy Shanahan and new fellows of the Association, Leonard Chumo, Karen Mayers, Bonnie Mills and Rachael Rothwell were also honoured at the event.

Visits to Deloitte, International Advisory Services and PricewaterhouseCoopers, who had previously applied to ACCA's Approved Employer Programme for the Professional Development stream were also held during the week of activities.