Whereas the government has decided to implement international financial reporting and auditing standards in governmental and private sectors, it has become necessary to have sufficient and qualified Certified Public Accountants;

Whereas to have Certified Public Accountants and to promote the profession, it is necessary to establish an institution; Whereas it is necessary to have an Institute that represents the accountancy profession and the professionals both locally and internationally;

Whereas it is important to promote the accountancy profession and the professionals in order to protect the public interest;

Now, therefore, in accordance with Article 55 Sub Article (1) of the Constitution of the Federal Democratic Republic of Ethiopia, it is hereby proclaimed as follows.