Institute for Tax Advisors and Accountants

The Institute for Tax Advisors and Accountants (ITAA) does not have legal authority to establish or operate the mandatory quality assurance review system for statutory audits, as this responsibility is vested in the Belgian Audit Oversight Board under the Act of 7 December 2016.

Within the scope of its legal remit, ITAA continues to maintain and strengthen its own quality review arrangements for professional services provided by its members, including services related to single financial statements and specific assurance-related engagements such as mergers, acquisitions, and liquidations. The Quality Review Commission remains operational and continues to support quality assurance reviews for services performed by ITAA members.

ITAA continues to support members and reviewers through the issuance of review tools, manuals, guidance materials, and dedicated training for reviewers. In addition, quality assurance topics continue to be integrated into the continuing professional development program through training sessions, workshops, and technical seminars.

Recent institutional materials also indicate ongoing efforts to expand the scope of the quality review framework on a risk-based basis to cover additional non-audit services provided by members, which further strengthens the quality assurance environment for the profession.

ITAA also continues to support members through technical publications and professional literature, including collaboration with external publishers on materials related to audit and professional quality requirements.

Given the sustained operation of the Quality Review Commission, the continued provision of implementation support tools and training, and the ongoing expansion of the review framework, fulfillment of SMO1 is assessed as Sustain.

Current Status: Sustain

The Institute for Tax Advisors and Accountants (ITAA) has direct responsibility for implementing initial and continuing professional development requirements for its members under the Act of 17 March 2019 on the professions of accountant and tax adviser.

ITAA continues to administer the professional pathway for certified accountants and certified tax advisers, including oversight of admission procedures, practical training, final professional examinations, and continuing professional development requirements. The institute also continues to monitor the practical experience of candidates throughout the traineeship period.

In line with the legal framework, members are required to complete 120 hours of continuing professional development over a rolling three-year period. ITAA’s Continuing Professional Development Commission continues to meet periodically to review and update the program, monitor member compliance, and refer cases of non-compliance to the Disciplinary Commission where appropriate.

ITAA also maintains an ongoing process for reviewing new and revised International Education Standards and updating its education, examination, and continuing professional development requirements to support continued alignment with the 2019 standards and subsequent developments.

In addition, ITAA continues to support members through technical publications, educational resources, and professional literature, including collaboration with external publishers on materials relating to accountancy law, professional education, and examination requirements.

Given its direct legal responsibility, ongoing oversight of education and practical experience, robust continuing professional development monitoring, and established processes for maintaining alignment with international standards, fulfillment of SMO 2 is assessed as Sustain.

Current Status: Sustain

The Institute for Tax Advisors and Accountants (ITAA) does not have legal responsibility for the adoption of auditing standards in Belgium, as this responsibility is vested in the Belgian Institute of Registered Auditors under the Act of 7 December 2016 and the related public oversight framework.

Within its professional remit, ITAA continues to support members through implementation assistance and awareness-raising activities relating to standards issued by the International Auditing and Assurance Standards Board. This is particularly relevant for members providing assurance-related and other professional services that may be subject to quality review procedures.

ITAA continues to provide technical guidance, procedure manuals, and training programs to support members’ understanding and implementation of relevant auditing and quality management standards. This includes virtual and in-person training activities related to quality assurance reviews, engagement documentation, and applicable professional requirements.

The institute also maintains ongoing communication channels to update members on new and revised standards through its website, technical communications, and professional press releases.

Given the continued provision of implementation support, training, and technical communications to members in an area where it has no direct standard-setting authority, fulfillment of SMO 3 is assessed as Sustain.

Current Status: Sustain

The Institute for Tax Advisors and Accountants (ITAA) has direct responsibility for implementing ethical requirements for its members under the Act of 17 March 2019 on the professions of accountant and tax adviser and the related Royal Decrees issued by the Minister of the Economy.

ITAA continues to require its members to comply with a professional code of ethics that incorporates the requirements of the 2018 International Code of Ethics for Professional Accountants issued by the International Ethics Standards Board for Accountants (IESBA). Publicly available information indicates that revisions based on the 2022 IESBA Code continue to be under approval by the competent authorities.

To support implementation, ITAA continues to provide ethics-related training as part of its continuing professional development program and disseminates guidance materials and technical resources to assist members in applying the ethical requirements in practice.

Given its direct responsibility in this area, ITAA is encouraged to continue advocating for the timely approval and incorporation of the latest revisions to the IESBA Code through the relevant Royal Decree process to ensure that members are required to comply with the most current ethical requirements in effect as of the time of the assessment.

Current Status: Execute

The Institute for Tax Advisors and Accountants (ITAA) does not have direct legal responsibility for the adoption of public sector accounting standards in Belgium, as these are established through national laws and regulations at the federal and subnational levels.

Within its professional remit, ITAA continues to play an active advocacy and technical support role in promoting accrual-based public sector reporting and awareness of International Public Sector Accounting Standards (IPSAS) and European Public Sector Accounting Standards (EPSAS) among relevant stakeholders and government authorities.

ITAA continues to engage regularly with public sector stakeholders and government representatives to promote awareness of developments in public sector accounting and to support discussions relating to IPSAS and EPSAS alignment.

In addition, ITAA continues its joint work with the Belgian Institute of Registered Auditors through the Public Accounting Commission, which supports dialogue with government authorities on public sector accounting reform, contributes to EPSAS developments, and provides training and technical support to facilitate the transition toward accrual-based public sector reporting.

The continued prioritization of public sector accountancy within ITAA’s strategic activities and its sustained advocacy and capacity-building efforts support maintaining fulfillment of SMO 5 at Sustain

Current Status: Sustain

The Institute for Tax Advisors and Accountants (ITAA) has direct legal responsibility for the investigation and discipline of its members under the Act of 17 March 2019 on the professions of accountant and tax adviser.

In accordance with the legislation, ITAA continues to operate formal investigation and disciplinary mechanisms for accountants, tax advisers, and related professional categories within its remit. Investigations are carried out by the institute’s legal department, with cases referred by the Board to the Disciplinary Commission where appropriate. The disciplinary framework includes a commission chaired by a magistrate and supported by professional members appointed in accordance with the law, as well as a statutory appeals process.

The legal framework also provides for sanctions against individuals practicing without registration and allows professional bodies to request investigations by the competent public authorities where infringements of the law are suspected.

ITAA continues to communicate the investigation and disciplinary process to members through its website, annual reports, and professional guidance materials.

Based on its self-assessment and the current legal framework, the system is operational and largely aligned with the requirements of Statement of Membership Obligations 6. However, opportunities remain to strengthen alignment in areas such as the independent review of complaints on which no follow-up action is taken and the extent of public disclosure of disciplinary outcomes.

ITAA is encouraged to continue exploring, within the legal framework, opportunities to strengthen transparency and public interest safeguards and to advocate for legislative enhancements that would support fuller alignment with SMO 6 best practices.

Current Status: Review & Improve

The Institute for Tax Advisors and Accountants (ITAA) does not have direct legal responsibility for the adoption of International Financial Reporting Standards (IFRS Accounting Standards), as these requirements are established through European Union Regulations and Directives as transposed into Belgian law. The Belgian Accounting Standards Board remains responsible for national standards applicable to other entities.

Within its professional remit, ITAA continues to support members with the implementation and application of IFRS Accounting Standards through workshops, continuing professional development courses, and technical updates on new and revised standards and related reporting developments.

The institute also continues to support members through technical information, implementation tools, professional literature, and guidance materials made available through its website and professional communications.

In addition, ITAA continues to contribute to the standard-setting environment through its representation on the Belgian Accounting Standards Board, where it provides technical input and support on financial reporting developments relevant to the profession.

Given the sustained member support activities and continued contribution to national standard-setting discussions, fulfillment of SMO 7 is assessed as Sustain.

Current Status: Sustain