Financial Crime World

Bulgaria’s Institute of Certified Public Accountants Steps Up Compliance Training for Financial Professionals

The Institute of Certified Public Accountants (ICPA) has reaffirmed its commitment to providing comprehensive compliance training for financial professionals in Bulgaria, with the goal of strengthening the audit profession and promoting international recognition.

About ICPA

Established under the Independent Financial Audit Act, ICPA is a professional organization dedicated to regulating and managing the activities of its members and the audit profession in the public interest. The institute has a membership base comprising registered auditors - both natural and legal persons.

Regional Expansion

ICPA’s regional bodies can be established with at least 20 registered auditor-members, expanding its reach across Bulgaria. This allows the organization to provide training and support to a wider audience, further enhancing the audit profession in the country.

Governance Structure

ICPA’s governing bodies include:

  • General Assembly: The highest authority of the institute, responsible for setting the overall direction and strategy.
  • Managing Board: Oversees the daily activities of the institute and ensures compliance with its objectives.
  • Supervisory Council: Monitors the activities of ICPA and advises the Managing Board on strategic matters.
  • Professional Ethics Council: Ensures that auditors adhere to ethical standards and guidelines.
  • Audit Services Quality Control Council: Develops and implements quality control procedures for audit services.
  • Disciplinary Council: Handles disciplinary actions against members who violate institute rules or professional ethics.

Chairman’s Vision

Chairman of the Managing Board, Boiko Kostov, has been instrumental in driving ICPA’s efforts to enhance compliance training for financial professionals. His vision is to equip auditors with the necessary skills and knowledge to operate in a rapidly changing regulatory environment.

Training Programs

ICPA’s training programs aim to provide auditors with the necessary skills and knowledge to:

  • Stay up-to-date with changing regulations and standards.
  • Develop expertise in specific areas, such as auditing and financial reporting.
  • Enhance their professional skills and competencies.

International Recognition

The institute is working towards international accreditation and recognition of Bulgarian audit certificates, further solidifying Bulgaria’s position as a trusted hub for financial services in Europe. This will enable Bulgarian auditors to work seamlessly with international clients and organizations, promoting economic growth and cooperation.

By strengthening compliance training for financial professionals, ICPA is contributing to the development of a robust and reputable audit profession in Bulgaria, while also enhancing the country’s global reputation as a trusted financial center.