The accounting profession in Guyana is regulated by the Institute of Chartered Accountants in Guyana (ICAG).
The ICAG was established on 9 November 1966 and became a statutory body with the enactment of the Institute of Chartered Accountants in Guyana Act of 1991.

The Institute of Chartered Accountants in Guyana was admitted to membership of International Federation of Accountants (IFAC) in 2000.

The Institute adopted International Standards on Auditing (ISAs) in 1998.

The International Standards on Auditing (ISAs) are issued by The International Auditing and Assurance Standards Board (IAASB).

The International Auditing and Assurance Standards Board (IAASB) were founded in March 1978. It was previously known as the International Auditing Practices Committee (IAPC).

The International Auditing and Assurance Standards Board (IAASB) is an independent standard-setting body that serves the public interest by setting high-quality international standards for auditing, assurance, and other related standards, and by facilitating the convergence of international and national auditing and assurance standards. In doing so, the IAASB enhances the quality and consistency of practice throughout the world and strengthens public confidence in the global auditing and assurance profession.
 

All companies incorporated under the Companies Act 1991 are required to submit their annual tax returns supported by financial statements. The financial statements must comply with International Financial Reporting Standards (IFRS) issued by ICAG and be accompanied by an audit report issued by a practicing member of ICAG. The audit of the financial statements must be carried out in accordance International Standards on Auditing.