| FLE | |
|---|---|
| Membership | Optional |
| No. of members | 396 |
| Institute staff | 2 |
| Date of establishment | 1935 |
| Local branches | No |
| Subject to public oversight | Yes |
| Public oversight authority | Audit Oversight Board (AOB) |
| Involvement in Qualification and Market Access | FLE |
|---|---|
| Initial education | No |
| Examination | No |
| Approval and registration | No (AOB) |
| Continued Professional Development | No (AOB) |
| Activities | FLE |
|---|---|
| Standard setting | No |
| Quality assurance | No (AOB) |
| Disciplinary measures | No (AOB) |
| Professions | Accountant (Endurskoðandi) |
|---|---|
| Professional body | FLE |
| Protected title | Yes |
| Reserved activities | Statutory audit and other activities regarding the issuance of financial statements |
| Included authorisations | Comprises the authorisations to provide (advisory) services on taxation, valuation, financial and business management |
| Accountant (Endurskoðandi) | |
|---|---|
| Regulated profession | Yes |
| Supervision | Yes |
| Public oversight authority | Audit Oversight Board (AOB) |
| Accountant | |
|---|---|
| General initial education steps (without possible exemptions) | • University master’s degree in audit and accounting • 3 years practical training • Final examination |
| Accountant | |
|---|---|
| No. of qualified professionals | 394 (230 Practicing members) |
| No. of new trainees per year | Information not available |
| No. of people taking the professional examination | 15 |
| No. of people passing the professional examination | 10 |
| Accountant | |
|---|---|
| Registration required | Yes |
| Competent authority for registration | Ministry of Industries |
| Cost of appointment/ registration | €50 registration €500 exam |
| Oath required | No |
| Insurance required | Yes, for all activities |
| Professional address required | Yes |