Prior to the establishment of the Institute of Chartered Accountants of the Eastern Caribbean (ICAEC), institutes existed in Saint Lucia, Dominica, St. Kitts and Nevis, and Antigua. ICAEC was formally established on November 23, 2000 by the Institute of Chartered Accountants of the Eastern Caribbean Agreement when the establishing Treaty was signed by Montserrat, Grenada, Antigua, Dominica, St. Kitts and Nevis, and Saint Lucia. The Institute became operational on June 17, 2004 when the fifth instrument of ratification was lodged with the OECS Central secretarial in Castries, Saint Lucia. This signified the legislation of the Treaty in Dominica, Montserrat, Antigua, St. Kitts and Nevis, and Saint Lucia.

At a meeting at the Eastern Caribbean Central Bank (ECCB) on October 29, 2004, the Institute’s first Council was elected as follows:

• Mr. Frank Myers and Mr. Anthony Atkinson – St. Lucia
• Mr. Ervin Southwell and Mr. Cleveland Seaforth – Antigua and Barbuda
• Mrs. Marcella Lanns-Monish – St. Kitts and Nevis
• Mr. James Simpson – ECCB representative

The first executive comprised:

• Anthony Atkinson - President
• Erwin Southwell – Vice President
• Frank Myers – Secretary
• Marcella Lanns-Monish – Treasurer