Ordem dos Contabilistas Certificados

In Portugal, statutory audit quality assurance is overseen by the Comissão do Mercado de Valores Mobiliários for public interest entity audits and by the Ordem dos Revisores Oficiais de Contas for non-public interest entity audits.

Although members of the Ordem dos Contabilistas Certificados (OCC) do not perform statutory audits, the OCC operates a mandatory quality assurance system applicable to chartered accountants in accordance with Law No. 68/2023. The system applies to professional services provided by its members and includes structured inspection procedures, monitoring mechanisms, and follow-up actions where deficiencies are identified.

Since 2023, the OCC has undertaken a structured transition from a traditional quality control model to a quality management approach aligned with the IAASB Quality Management Standards, including ISQM 1, ISQM 2, and ISA 220 (Revised). Preparatory measures included the deployment of a national self-assessment questionnaire and targeted capacity-building initiatives to support members in adapting to the revised framework.

In 2024 and 2025, the OCC continued refining its inspection methodology and digital case-tracking processes. A proposal to establish a formal quality certification framework for chartered accountants is expected to be considered by the Assembleia Representativa by the end of 2025.

Based on available information, the OCC maintains an operational and evolving quality assurance system and continues to strengthen its framework in line with international developments.

Current Status: Sustain

Initial and continuing professional development requirements for Contabilistas Certificados are established in national legislation and implemented by the Ordem dos Contabilistas Certificados (OCC) under the oversight of the Ministry of Finance.

The OCC maintains a competency-based education framework that incorporates defined learning outcomes, supervised practical experience, and a professional examination process for admission. The OCC reports that it has used the IFAC Accountancy Education E-Tool and the IES Checklist to assess alignment with the 2019 International Education Standards and subsequent revisions.

Since 2023, the OCC has undertaken a structured review of its initial professional development programme to integrate recent revisions to the IES suite, including updates relating to sustainability, data analytics, digital competence, and professional values. The modular qualification programme has been updated accordingly, and the OCC is strengthening assessment methodologies, including case-based and practice-oriented evaluation tools.

Continuing professional development requirements remain mandatory, with a minimum of 30 hours of verifiable CPD annually. The OCC continues to update its CPD programming to reflect emerging topics such as ESG reporting, digital transformation, artificial intelligence, and cybersecurity. Monitoring and compliance mechanisms remain in place.

Based on available information, the OCC maintains an operational education framework aligned with the International Education Standards and continues to refine its programmes in response to international developments.

Current Status: Sustain

The adoption and implementation of International Standards on Auditing in Portugal are the responsibility of the Ordem dos Revisores Oficiais de Contas and the Comissão do Mercado de Valores Mobiliários. Members of the Ordem dos Contabilistas Certificados (OCC) are not authorised to perform statutory audits.

Although the OCC does not have direct responsibility for auditing standards, it monitors developments in International Standards on Auditing and related assurance pronouncements to ensure coherence with its own guidance and professional education activities. The OCC disseminates information on relevant auditing developments through technical communications and continuing professional development programmes, particularly where such developments affect financial reporting quality, documentation practices, professional judgement, and sustainability-related assurance matters.

The OCC participates in public consultations when relevant and engages in technical dialogue with national stakeholders where appropriate.

Based on available information, the OCC maintains appropriate monitoring and support mechanisms in relation to auditing standards within the scope of its mandate.

Current Status: Sustain

The Ministry of Finance retains formal authority for the approval of the Código Deontológico dos Contabilistas Certificados in accordance with Law No. 68/2023. The Ordem dos Contabilistas Certificados (OCC) is responsible for proposing revisions, disseminating ethical requirements, and monitoring compliance among its members.

The OCC has conducted a structured comparison between the national Code and the International Code of Ethics for Professional Accountants issued by the International Ethics Standards Board for Accountants. The OCC reports that the national Code is substantively aligned with the IESBA Code; however, the IESBA Code is not formally adopted by reference within the legislative framework.

Since 2023, the OCC has undertaken periodic updates to integrate terminology and conceptual elements reflected in recent revisions of the IESBA Code, including developments relating to sustainability, technology, independence, and professional judgment. The OCC supports implementation through mandatory ethics training for new members, structured continuing professional development in ethics, technical communications, and an ethics advisory service for members.

The OCC participates in international consultations on proposed revisions to the IESBA Code and monitors ongoing developments to assess implications for the national framework.

The OCC should continue its efforts to achieve formal alignment with the IESBA Code as issued, including advocating for incorporation by reference within the national legislative framework. Establishing a defined roadmap for periodic updates that ensures timely reflection of future IESBA revisions would further strengthen alignment with SMO 4 requirements.

Current Status: Review & Improve

Portugal established an accrual-based public sector accounting framework through the Sistema de Normalização Contabilística para as Administrações Públicas, adopted by Decree-Law No. 192/2015. The framework was developed by the Comissão de Normalização Contabilística (CNC), the national public sector standard setter, and is based on the 2014 version of IPSAS, with national adaptations.

The Ordem dos Contabilistas Certificados (OCC) is a permanent institutional member of the CNC and participates in the development and revision of the SNC-AP. As of 2025, the CNC is undertaking a revision of the SNC-AP to incorporate more recent IPSAS developments. The OCC contributes to this process through technical input and consultation.

The OCC supports implementation of public sector standards through continuing professional development activities, technical guidance, and training programmes for members working in the public sector. Public sector accounting is recognised within the OCC qualification pathway, and members engaged in this area are supported through specialised education initiatives.

The OCC also participates in international consultations on IPSAS developments and monitors revisions issued by the IPSASB to assess implications for the national framework.

The OCC should continue to advocate for progressive convergence of the SNC-AP with the most recent IPSAS as issued and support the CNC in establishing a structured update mechanism to reduce version lag. Continued monitoring of differences between national standards and IPSAS would further strengthen alignment with SMO 5 objectives.

Current Status: Review & Improve

The Ordem dos Contabilistas Certificados (OCC) operates a legally established investigation and disciplinary system in accordance with Law No. 68/2023. The system defines professional misconduct, establishes investigative and adjudicative procedures, and provides graduated sanctions ranging from reprimand to suspension or expulsion. Procedural safeguards include the right to be heard, legal representation, and appeal to independent administrative or judicial bodies.

The OCC’s disciplinary framework includes both complaints-based procedures and referrals arising from quality assurance reviews or other supervisory mechanisms. Investigative and decision-making functions are structurally separated to ensure independence and due process.

The OCC reports ongoing monitoring and public reporting of disciplinary activity. According to its 2024 Annual Report, 418 disciplinary cases were registered in 2022, 360 in 2023, and 443 in 2024. The OCC publishes procedural guidance and summaries of disciplinary outcomes and integrates ethics and professional conduct topics into continuing professional development activities.

Since 2023, the OCC has invested in digital case-tracking systems and reporting tools to enhance efficiency and oversight of disciplinary procedures.

Based on available information, the OCC maintains an operational investigation and disciplinary system that incorporates the key elements of SMO 6 and continues to refine its processes.

Current Status: Sustain

The adoption of International Financial Reporting Standards in Portugal is the responsibility of the Comissão de Normalização Contabilística and relevant sectoral regulators, in accordance with Regulation (EC) No. 1606/2002 and national implementing legislation. EU-endorsed IFRS are mandatory for the consolidated financial statements of public interest entities.

Although the Ordem dos Contabilistas Certificados (OCC) does not have responsibility for standard setting, it supports the implementation of IFRS within the profession. The OCC participates in technical discussions with the Comissão de Normalização Contabilística and contributes to public consultations where relevant.

The OCC integrates IFRS content within its initial professional development framework and delivers continuing professional development programmes covering IFRS updates, application issues, and emerging reporting requirements. Technical communications, publications, and seminars are used to disseminate developments relating to EU endorsement updates and IASB pronouncements.

The OCC also engages in regional and international forums through its membership in professional networks, where it reviews and contributes to discussions on proposed IFRS developments.

Based on available information, the OCC maintains structured support mechanisms to assist members in applying IFRS and continues to monitor international developments affecting financial reporting.

Current Status: Sustain