The aims and objectives of CAROSAI are—
(a) to promote understanding and co-operation among member institutions through the exchange of audit ideas and experiences, audit techniques, audit programmes, audit manuals, formats and standards for public sector accounts;
(b) to promote the importance of the internal audit function within the public sector;
(c) to provide opportunities for training and continuing education for public sector internal and external auditors with a view to improving the quality of their performance;
(d) to encourage dialogue with regional training institutions with a view to obtaining assistance with research personnel;
(e) to serve as an information centre and as a regional link with the International Organization of Supreme Audit Institutions (INTOSAI) and other international and regional organizations and institutions in other parts of the world in the field of public sector auditing;
(f) to promote closer collaboration and brotherhood among auditors in the public sector of the respective states of the member-institutions;
(g) to raise the level of audit consciousness in the Caribbean area in order to support the role of the Institutions in performing their duties;
(h) to promote the unification of principles, procedures, standards and financial terminology in matters of auditing;
(i) to promote the harmonization of standards and policies among member-institutions in matters of common interest;
(j) to promote the application of Comprehensive Auditing;
(k) to promote the exchange of audit personnel both within and outside the Caribbean Region; and
(l) to do all such other things as are necessary, incidental or conducive to the attainment of the aims and objectives specified in paragraphs (a) - (k).