The CFAR was established by Government Ordinance No. 75 of 1999 and is comprised only of auditors – physical and legal persons. CFAR members are authorized to perform other services than statutory audit unless they are issued a license by the ASPAAS (the audit oversight body). CFAR is authorized by Ordinance No. 75 of 1999 to carry out certain responsibilities: (i) maintain registries of its members - auditors and audit firms; (ii) continuous professional development for its members in all relevant fields, except for statutory audit; (iii) investigative and disciplinary activities, related to its members; and (iv) conduct QA reviews for engagements other than statutory audit. CFAR has been delegated the following tasks by ASPAAS: (i) organization of the exam to access practical training; (ii) organization of the professional competence exam at the end of the practical training; and (iii) organization of the CPD program for Romanian financial auditors. Both CFAR and CECCAR are Members of IFAC as well as Accountancy Europe. CFAR is also a member of EFAA and the Common Content Project.