accounting and financial solutions that meet their needs
Transforming Business Inc was established with a mission to provide tailored accounting and management solutions to small and medium-sized businesses.
We are a team of accountants and business consultants with over 50 years’ combined experience in the accounting profession.
We network with professionals in related fields, such as legal and corporate secretarial, to ensure that all aspects of our clients’ needs are met.
As a member of the Institute of Chartered Accountants of Barbados (ICAB), we adhere to International Accounting Standards and International Financial Reporting Standards.
As Tax Agent for the majority of our clients, we keep abreast and comply with the requirements of the Income tax Act of Barbados.
As a member of the Barbados Chamber of Commerce, we are kept informed of business developments and protocols in Barbados and can be a voice on behalf of our clients.
Our knowledgeable team can help you with anything you need.
Francina Downey-Smith, CPA (Canada), FCA
Founder & CEO
I am a Fellow and Practicing member of the Institute of Chartered Accountants of Barbados (ICAB) with 44 years’ experience in the accounting field.
My career started when I joined Coopers & Lybrand at age 18. Twelve years later, having completed my studies, I obtained my license to practice and gained valuable experience in the field. I launched the audit firm Francina Downey & Co in 1988. The firm provided public practice audit, accounting and tax services to the business community for 27 years until 2015, when I retired from auditing.
Throughout the years, I have always had a passion for helping people, from initial set up to on-going development and guidance in the way to manage the financial aspect of their businesses. I try to make each of my clients feel comfortable to share his/her concerns and objectives, knowing that their story will be held in confidence and their challenges will not be judged.
I am excited about my latest venture of reaching out to a broad audience, by sharing my knowledge and wisdom through the staging of webinars and workshops.
Ann Gordon, BSc. Management Studies
Director & General Manager
I have over 21 years’ experience in a combination of accounting, office management & administration, over several industry sectors and types of organizations.
My style is ‘hands on’, working with small businesses in a range of areas, from implementing procedural systems and internal controls, maintaining book-keeping and payroll functions, to carrying out the annual review of their financial statements and preparing their tax returns.
Over the years, I have developed strong computer skills in software installation, troubleshooting and upgrades, in various types of software including spreadsheet, word processing, database & accounting packages.
The team at Transforming Business Inc has been preparing and filing our tax returns for over 25 years! They have been our representative to the Barbados Revenue Authority in handling tax audits and amnesties, communicating and negotiating on our behalf.
Every time I’ve had a question or needed clarity on a new amendment regarding payroll or corporation tax, I just call or email and I receive direct attention until the issue is resolved.
You all have been marvelous to us! You have computerized our books and now we are able to get financials every month. Before that it was impossible. You keep us on track. We would not otherwise know many of the Government requirements that come up.
Thank you for your service over the past 10 years! You all are amazing with regards to helping small businesses!
Transforming Business Inc played an integral part in the business planning stage of Curbside Café.
Fran was a gem and was very personable as she shared her vast knowledge. She assisted with the preparation of financial projections and the business plan for submission to financial institutions. Fran has since advised me on matters including payroll, taxation and monthly accounting. I would recommend Transforming Business to any business in need of support.
I have had the opportunity of working closely with Mrs. Francina Downey-Smith/Transforming Business Inc. during the period 2009 – 2018 while leading the Barbados Employers Confederation as Executive Director. During that period the organisation provided initially Audit services and latterly, Accounting services.
More recently as Treasurer of the St. Stephen Anglican Church Parochial Church Council (PCC), we have engaged Transforming Business Inc. to compile the Financial Statements for the period 2015 to 2020 for Review Engagements, as we sought to regularize our Annual Reports and meet our obligations to The Anglican Diocese in Barbados.
During the various engagements, I have always found Mrs. Downey-Smith and her Associates fully engaged and facilitative, providing timely reports and guidance as discussed and agreed.
I unreservedly recommend Mrs. Downey-Smith/Transforming Business Inc. for providing accounting and management solutions to small and medium-sized business organizations.