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History of the Profession

Through Act No. 406 of 12 January 1945, the Principality of Monaco has regulated the accounting profession, defined its tasks and restricted its practice to duly authorised professionals.

Act No. 1.231 of 12 July 2000 has allowed the creation of Monegasque Accounting public limited companies.

The Association is made up of 28 members, from 8 companies and 13 individual firms.
All international audit firms are represented through their correspondents.

Besides the traditional activities Accountant and Statutory Auditor, recognised under the law, and the regulation of their profession, four members of the Association also serve as Trustee in Bankruptcy, Liquidator, and Accountant at the Courts.

As observers of the realities of economic life, Accountants are also stakeholders in social life and in the Principality of Monaco.  Due to the diversity of their functions, they are regularly called upon by government authorities to contribute to various draft laws or regulations and to institutional supervisory bodies.

In line with the international orientation of Monaco, the Association of Accountants is a member of the following international bodies:
The Federation of European Accountants (FEA)
International Federation of Francophone Accountants (FIDEF)
Mediterranean Arc of Auditors (AMA)

This versatility lends a key position to the Accountant as a privileged partner of businesses.

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