The Institute of State Authorized Public Accountants in Iceland (FLE) FLE was established on July 16, 1935. FLE membership is voluntary, and it is exclusively comprised of auditors. Under the Auditing Act No. 94/2019, FLE is entrusted with the following tasks in consultation with the Public Auditors Oversight Board (ER): (i) develop continuing professional development (CPD) courses; and (ii) keep CPD records. In addition to being an IFAC member, FLE is a member of Accountancy Europe and the Nordic Federation of Public Accountants.