Lawmakers approve of merging auditor, accountant protocols

The Third Standing Committee of the Legislative Assembly (AL) has agreed with the government’s proposal of merging the protocols for auditors and accountants.
On Friday, the committee signed an opinion report on the merge during a meeting for discussion on the Accountant Registration and Operation Regime.
This regime mainly merges the current two systems for registered auditors and certified public accountants.
As the two systems are merged, the old protocols for the accountants and the auditors will be annulled and these two types of professionals will be collectively referred to as “accountants.” However, the Portuguese version of the law will continue use the term “auditors.”
Once the regime comes into effect, there will be two types of accountants: certified public accountants and licensed accountants.
According to the law, the current committee of accountants and auditors will be renamed the professional committee of certified accountants.
From a legal perspective, the committee will have considerable power and is a public monitoring entity.
The committee’s form and operation will be regulated by administrative regulations introduced by the Chief Executive. JZ