The FIA was established under the Fiji Institute of Accountants Act of 1971 (FIA Act) and is the only professional accountancy organization in Fiji. The FIA Act establishes the functions of FIA, which include maintaining a registry of all professional accountants, regulating the profession by enforcing professional conduct, setting applicable auditing and accounting standards, setting initial professional development and continuing professional development requirements, and establishing an investigative and disciplinary system. In addition, as established under its bylaws, the FIA is responsible for establishing ethical requirements for its members. The FIA reports, as there is a requirement for audit practitioners to be independently reviewed, the institute has developed a Peer Review program for members who hold a Certificate of Public Practice (CPP). Audits in Fiji can only be conducted by Chartered Accountants (CAs) who hold a CPP. CAs who hold a CPP are required to be members of the FIA and in addition, are required to be registered with the Ministry of Justice. In addition to being a member of IFAC, the FIA is a member of the Confederation of Asian and Pacific Accountants.