CACR was founded in 1993 for the purpose of governing the audit profession in the Czech Republic. Its authority is stipulated in the Act on Auditors of 2009 as amended in 2021. Statutory auditors are required to be licensed members of CACR by law. CACR is responsible for (i) issuing licenses to practice auditing; (ii) maintaining registries of auditors and registries of revoked licenses; (iii) organizing and conducting examinations for auditors; (iv) developing and delivering continuing professional development (CPD) activities; (v) enforcing compliance with applicable auditing and ethical standards as well as CPD requirements; (vi) initiating investigation and disciplinary procedures for members; (vii) carrying out quality assurance reviews of its members; and (viii) undertaking any other activities that promote high professional standards and improve the quality of auditing services. In addition to being a member of IFAC, CACR is a member of Accountancy Europe.