The Belgian Institute of Registered Auditors (in Dutch: Instituut van de Bedrijfsrevisoren; in French: Institut des Réviseurs d’Entreprises), a professional organisation with legal personality, was created by the law of 22 July 1953. It is the representative organisation for the financial auditing profession in Belgium. The Institute counts 1060 individual members (Registered Auditors – Bedrijfsrevisoren – Réviseurs d’Entreprises), 500 trainees and 520 auditing firms.
The Institute of Registered Auditors is:
• in charge of the promotion of the profession and defends its members’ interest;
• establishes national standards on auditing
• sets up the education program
• organizes the access to the profession, including the traineeship;
• takes care of the investigation and the follow up of the quality control of its members;
• provides different services to its members
The Institute is member of various international organisations (among which the International Federation of Accountants (IFAC) and the Federation of European Accountants (FEE)
The title of ‘Registered Auditor’ is protected by law. Every Registered Auditor has to be a member of the Institute. The Registered Auditor is a highly specialized professional, an impartial expert and a key player in the economic world. He is a key actor for companies during their entire existence.
The main activity of a Registered Auditor is the statutory audit, of which he has the legal monopoly. When he performs a statutory audit, he is subject to strict independence rules.