CECCAR was established by Royal Decree of King Ferdinand I on July 13th, 1921, and subsequently reestablished in 1994 by Government Ordinance No. 65 of 1994. CECCAR is comprised of expert accountants and licensed accountants, who must join CECCAR to offer related services. It is mandated by law to (i) maintain registries of its members; (ii) set initial and continuing professional development (IPD and CPD) requirements; and (iii) establish ethical standards and an investigative and disciplinary (I&D) system for its members.