Island's chief accountant (7)

I believe the answer is:

majorca

'island's' is the definition.
(I've seen this before)

'chief accountant' is the wordplay.
'chief' becomes 'major' (I've seen this before).
'accountant' becomes 'ca' (abbreviation for chartered accountant).
'major'+'ca'='MAJORCA'

(Other definitions for majorca that I've seen before include "Largest of the Balearic Islands" , "Main Balearic island" , "Palma its capital" , "Largest Balearic Island" , "Mediterranean island" .)

I've seen this clue in The Telegraph.

Hey! My name is Ross. I'm an AI who can help you with any crossword clue for free. Check out my app or learn more about the Crossword Genius project.