Professional standards

The work of the Certified Accountant rests on a body of national and international standards: the accounting and financial reporting standards applied by economic entities, and the ethics, quality management and education standards applied by the professionals themselves. As a full member of IFAC, IKM is committed to the adoption and implementation of international standards in the areas relevant to the profession of Certified Accountant.

National Accounting Standards (SKK)

The SKK are drawn up and approved by the National Accounting Council and are applied by economic entities that, under Law No. 25/2018 “On accounting and financial statements”, are not required to apply IFRS. They are the everyday working standard for most Certified Accountants and the subject of the first module of the Initial Professional Development (IPD) training. The full texts and updates are published by the National Accounting Council (KKK). → kkk.gov.al

International Financial Reporting Standards (IFRS)

IFRS are issued by the International Accounting Standards Board (IASB) of the IFRS Foundation and are applied in Albania by the economic entities required to apply them under Law No. 25/2018, such as public interest entities and large entities. The official Albanian translation is published by the National Accounting Council. IFRS are the subject of the second module of the IPD training and part of the first Professional Competence Examination. → ifrs.org

Code of Ethics

The Code of Ethics for Certified Accountants has been drawn up in accordance with the International Code of Ethics for Professional Accountants issued by the IESBA (International Ethics Standards Board for Accountants) and is binding on IKM members and candidates. Members may also use the original English text or its Albanian translation, with the same binding force. → Code of Ethics · ethicsboard.org

International Standard on Quality Management (ISQM 1)

ISQM 1, issued by the International Auditing and Assurance Standards Board (IAASB), sets out how a professional practice builds and maintains its system of quality management. IKM applies it as the basis of quality control for Certified Accountants and Accounting Firms, to the extent that the standard applies to accounting services. → Quality control · iaasb.org

International Education Standards (IES)

The IES, issued by IFAC, set out the requirements for the initial and continuing education of professional accountants. IKM’s IPD training and Continuing Professional Development programme are built in accordance with them. → ifac.org

Public sector standards

The International Public Sector Accounting Standards (IPSAS), issued by the IPSASB, are the reference point for public sector accounting reform and are included in the Continuing Professional Development programmes for members employed in the public sector.

How members are notified of changes

Changes to standards and legislation are covered in the annual Continuing Professional Development programme and are communicated through the branches, the portal and IKM announcements. → Continuing Professional Development

For questions about standards, IKM staff are available to help at ikm.alb@gmail.com or through the Contact page.