JICPA was established under the Certified Public Accountants Act in 1966 and the Act has subsequently be amended to enhance JICPA’s authority as it relates to the accountancy profession. Today it is the sole organization representing the profession in Japan and any individual who wishes to use the designation of and publicly practice as a Certified Public Accountant must be a member. In addition to membership of IFAC, JICPA is a member of CAPA (Confederation of Asian and Pacific Accountants), GAA (Global Accounting Alliance), and AFA (ASEAN Federation of Accountants). JICPA also works closely with ASBJ (Accounting Standards Board of Japan) and the Business Accounting Council (BAC) in setting standards for the jurisdiction.