IBR-IRE is a mandatory membership organization for auditors and audit firms established in accordance with the Audit Act of 2016. The Act Regarding the Organization and Supervision of registered Auditors of 2016 grants IBR-IRE, under the supervision of the Belgian Audit Oversight College, with the authority to: (i) approve and register statutory auditors and audit firms; (ii) provide continuing professional development for auditors; and (iii) draft auditing and ethical standards for the High Council for the Economic Professions and Minister of Economy’s approval and endorsement. IBR-IRE is a member of IFAC, Accountancy Europe, and the Fédération Internationale des Experts-Comptables Francophones.