IAB-IEC and BIBF-IPCF become ITAA

The merger between the Institute of Accountants and Tax Consultants (IAB-IEC) and the Institute of Accounting Professionals and Tax Experts (BIBF-IPCF) dates back to the early 2000s. As far back as then, the idea was that a coming together between the two institutes would increase the weight of the financial professions for the Belgian economy.

Recently, the Act of 17 March 2019 ratified the merger of the two institutes. With this, the Institute for Tax Advisors and Accountants (ITAA) saw the light of day. With a view to the internationalisation of the profession, Belgian ‘belastingadviseurs/conseiller fiscal’ can use the English term for their profession and refer to themselves as ‘tax advisors’. (N.B.: the term accountant is already borrowed from English.) For that same reason, the new institute will be referred to as (Belgian) Institute for Tax Advisors and Accountants (ITAA).

Engagements

The tasks of the ITAA are very diverse. First and foremost, the institute promotes the interests of its members and trainees.

The professions of accountant and tax advisor are regulated by law. This means that anyone wishing to practise the profession must be registered in the public register. The ITAA’s task is to manage that register and to monitor access to the profession by regularly holding entrance examinations and qualifying examinations. Between taking the two exams, the ITAA also monitors the programme that each trainee accountant or trainee tax advisor follows along the way.

Legally regulated free professions have strict rules on ethics, which are important given their social role. The ITAA ensures that its members observe these rules correctly and it monitors their continuous professional development. Finally, the ITAA issues various standards and recommendations for the proper practice of the profession. The application of these standards and the rules of professional ethics are tested based on a quality review.