In a landmark move set to transform professional accounting education across the Caribbean region, the University of Guyana (UG) and the Association of Chartered Certified Accountants (ACCA) have formally signed a Memorandum of Understanding (MOU) to launch a pioneering dual award pathway for students enrolled in UG’s Bachelor of Science in Accountancy programme.
The signing ceremony was held at UG’s Turkeyen Campus Education Lecture Theater, cementing a growing collaborative bond between the two institutions that began earlier this year when UG’s accountancy degree earned ACCA accreditation. That initial accreditation already secured graduates exemptions from four foundational ACCA papers and aligned UG’s curriculum with global professional benchmarks. The new MOU advances this partnership by establishing a formal structured framework for joint curriculum refinement and the creation of the integrated academic-professional dual award track.
Guyana’s Minister of Education Sonia Parag, who delivered the event’s keynote address, emphasized that this initiative marks an unprecedented milestone for professional education in the region. “For the first time across the Caribbean, students will earn a dual credential – an academic degree from UG and a globally recognized ACCA professional qualification,” Parag noted. She added that the full alignment of the programme with international standards will leave graduates with far stronger competitive qualifications, cementing UG’s position as a globally competitive higher education institution. Parag also expressed strong backing for an early launch of the programme, suggesting a rollout as soon as September this year would allow students to begin accessing the benefits of the new pathway without delay.
UG Vice-Chancellor Professor Paloma Mohamed Martin highlighted that the partnership directly aligns with Guyana’s national priorities for expanding professional certification and building a skilled, competitive workforce. She pointed out that the initiative matches the national vision laid out by Guyana’s President, who has publicly called for programmes that equip students with both academic degrees and industry-recognized professional certifications. Professor Martin noted that while UG currently maintains more than 170 international partnership MOUs, this agreement carries unique weight: it will not only strengthen professional career pathways in accounting and finance but also support stronger national fiscal accountability by producing a new cohort of experts trained to the highest global standards. She also extended the university’s gratitude to the Guyana Institute of Chartered Accountants, specifically senior leaders Ramesh Seebarran and Harry Parmesar, for their ongoing support of the initiative.
Dr Alfred Aaron, Head of UG’s Department of Accountancy and Finance, framed the MOU as the natural next phase of collaboration between the two institutions, with core focuses on curriculum alignment and the rollout of the dual award structure. Aaron explained that the agreement will guide joint work to further align UG’s programme with international professional requirements, closing gaps between academic learning and professional practice. “We are incredibly excited about the opportunities this partnership opens up for our students,” Aaron said. “We look forward to collaborating with ACCA to review and strengthen our syllabus, secure additional exam exemptions for our students, and develop more specialized degree pathways tailored to evolving industry needs.”
Melanie Proffitt, Global President of ACCA, emphasized that the new agreement reflects both institutions’ shared commitment to preparing next-generation finance professionals to thrive in a rapidly evolving global economy. Proffitt noted that Guyana is currently experiencing one of the fastest periods of economic growth anywhere in the world, a transformation that has generated urgent demand for skilled, ethically trained, globally competent finance leadership. “This is the first partnership of its kind in the entire Caribbean region, giving students a robust, internationally recognized pathway into the accounting and finance profession,” Proffitt said. “This is not a symbolic agreement. It is a practical, intentional partnership designed to evolve alongside Guyana’s growth.”
Paula Marcelle-Irish, Head of ACCA Caribbean, echoed this sentiment, noting that the MOU represents a concrete commitment to expanding student opportunity while strengthening the regional accounting profession. “This MOU is far more than a formal signed document,” Marcelle-Irish said. “It is our commitment to growing the accounting and finance profession in Guyana, opening new doors for students, and ensuring the country has the skilled talent pool it needs to sustain its ongoing economic expansion.”
In a pre-recorded address, Professor Leyland Lucas, Dean of UG’s School of Entrepreneurship and Business Innovation (SEBI), underlined that expanding high-quality educational offerings for Guyana requires cross-institutional collaboration. “Delivering the resources this nation needs cannot be accomplished by UG alone,” Lucas said. “We will need to continue deepening collaboration with our existing partners and forging new connections, and we look forward to building on this relationship as we roll out new programmes in the future.”
Ramesh Seebarran, President of the Institute of Chartered Accountants of Guyana (ICAG), reaffirmed his organization’s full support for the initiative, while ICAG Council Member Harryram Parmesar noted that the agreement is the product of years of consistent, collaborative work to strengthen professional accounting pathways across Guyana. Earlier in the event, Deputy Vice-Chancellor for Academic Engagement Professor Emmanuel Cummings delivered opening welcome remarks, emphasizing the value of aligning academic and professional standards to expand opportunity for UG students.
UG’s Bachelor of Accountancy programme earned ACCA accreditation in June 2026, with the accreditation valid from January 1, 2026 through December 31, 2030 after a rigorous assessment against ACCA’s global standards for accounting education.