The KICPAA was established under the Law on Corporate Accounts, their Audit and Accounting Profession (Accounting Law) in 2003. KICPAA functions through its Governing Council and the main statutory functions of the Council include: (i) establishing the initial professional development and continuing professional development requirements for its students and members; (ii) issuing a Code of Ethics for its members; (iii) ensuring adherence to ethical requirements and applicable standards set by the NAC; (iv) establishing an I&D system for its members; and (v) maintaining a list of registered Certified Public Accountants and a list of statutory auditors. KICPAA members comprise accountants and auditors who are members of foreign professional accountancy organizations, such as the Association of Chartered Certified Accountants (ACCA), the Chartered Professional Accountants of Canada, the Certified Practising Accountants of Australia, and the Institute of Chartered Accountants in England and Wales. Membership with KICPAA is mandatory for all individuals who wish to perform accountancy services in Cambodia. Finally, in addition to being an Associate of IFAC, KICPAA is also a member of the ASEAN Federation of Accountants.