• Capital: Madrid
  • Population: approx. 47 000 000 
  • Language: Spanish
  • Part of the EU since: 1986

Member Bodies

Professional Bodies

No. of members4,760 
Institute staff74
Date of establishment1942
Local branches15 territorial branches
Subject to public oversight Yes
Public oversight authority Accounting and Auditing Institute (ICAC)  
Involvement in Qualification and Market AccessICJCE
Initial educationNo
Approval and registrationNo (ICAC) 
Continued Professional DevelopmentNo
Standard settingYes (with ICAC) 
Quality assuranceNo (ICAC) 
Disciplinary measuresNo (ICAC) 


ProfessionsStatutory Auditor
Professional bodyICJCE
Protected titleYes
Reserved activities1Statutory audit
Included authorisationsTakes part in increases or decreases in equity and in the valuation of shares in certain cases of corporative restructuring by issuing an independent report. They can also act as bankruptcy trustee and they should issue complementary reports to the audit of financial sector entities.   


Statutory auditor
Regulated professionYes
Public oversight authorityAccounting and Auditing Institute (ICAC)


Statutory auditor
General initial education steps (without possible exemptions)– Academic university degree (except if the person has the certificates or studies required to be accepted at University and, at least, 8 years of practical training) 
– At least 3 years of practical training (except for the aforementioned case) 
– Theoretical instruction 
– State exam 


Statutory auditor
No. of qualified professionals21 335
No. of new trainees per yearInformation not available
No. of people taking the professional examination702 (in 2017, 1,141 in 2015) 
No. of people passing the professional examination51% (in 2017; 34% in 2015)

Market access – qualified professionals

Registration requiredYes
Competent authority for registrationICAC (through the Registro Oficial de Auditores de Cuentas – ROAC) 
Cost of appointment/ registrationThe registration is free 
Oath requiredNo
Insurance requiredYes (minimum €300,000 per professional in the first year of activity. After the first year of activity, this amount shall be increased by 30% of the turnover in excess of the amount equivalent to that of the aforesaid minimum guarantee which corresponds to the audit activity from the previous year) 
Professional address requiredYes