 BICA was formed by Maitland Cates, Basil Sands and Clifford Culmer, who were among the first Bahamians to qualify as chartered accountants in the 1960s.The Bahamas Institute of Chartered Accountants was incorporated on 6 August 1971.BICA became a member of the International Federation of Accountants in 1978, and a member of The Institute of Chartered Accountants of The Caribbean on 28 October 1988.