History of IEKA

The foundations of the statutory audit profession are laid in Albania, with the start of external audits of financial statements and the creation of the first chartered accountant role.

Order no. 1 of the Council of Ministers is adopted, creating the first legal basis for organising the profession and setting out entry criteria, professional practice, examinations and the initial rules of ethics and auditing.

On 24 November 1997 the Institute of Authorised Chartered Auditors (IEKA) is founded as the professional organisation of statutory auditors in Albania. The first General Assembly is held the same day and the first Governing Council is elected.

With the support of European Union technical assistance programmes (PHARE), IEKA consolidates its organisational structures, develops the first professional training programmes and drafts the first audit procedures.

IEKA translates and publishes the International Standards on Auditing (ISA) in Albanian for the first time, a significant step towards aligning Albanian audit practice with international standards.

IEKA becomes a full member of the International Federation of Accountants (IFAC), committing to implement the Statements of Membership Obligations (SMOs) and international best practice.

Law no. 10091/2009 is adopted, regulating for the first time at statutory level the profession of the statutory auditor, the organisation of IEKA and statutory audit in Albania.

Law no. 46/2016 “On statutory audit and the organisation of the professions of statutory auditor and approved accountant” is adopted, harmonising the Albanian framework with the European Statutory Audit Directive and strengthening public oversight of the profession.

The legal framework of the profession was updated with the latest amendments to statutory audit legislation, reflecting new developments in the profession and continuing alignment with the European Union acquis.