ICAM was established in 2006 as a professional association of accountants and auditors. ICAM’s membership is mandatory for Certified Auditors and for Certified Accountants and voluntary for Authorized Accountants and Bookkeepers. It is acknowledged by the Decree on Entrusting of Affairs of Public Administration Bodies Competent for Accounting and Auditing No. 33/10 of 2010 (Decree No. 33/10) as the competent authority for accounting and auditing activities referred to in the new Law on Accounting No. 052 of 2016 and the new Law on Auditing No. 001 of 2017. ICAM is entrusted with the responsibility to (i) translate and publish international accounting and auditing standards as well the IESBA Code of Ethics for Professional Accountants; (ii) organize and conduct the certification program for Certified Accountants; and (iii) maintain a registry of Certified Accountants. In addition to being a member of IFAC, ICAM is a member of Accountancy Europe.