The objects of the Institute are –

  • to regulate the practice of accountancy, including the registration, discipline and membership of persons eligible under this Act to practise in accountancy and auditing;

  • to regulate qualifications, requirements and other conditions for registration of persons and membership of the Institute; 

  • to regulate accounting, auditing and other standards of audited financial statements that comply with national, regional and international standards, including scale of fees and charges;

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  • to undertake research on matters under this Act for the benefit of its members and registered persons and the profession of accountancy and auditing, including obtaining and disseminating information relating to national and international developments in the profession of accountancy and auditing;

  • to develop and provide training and continuing professional education to its members and registered persons; 

  • to facilitate and assist in the teaching of the discipline of accountancy and auditing at university level and other higher educational institute or college, including offering scholarships, prizes and undertaking career expositions and other career or professional exhibitions;

  • to regulate professional and ethical conduct and other professional standards for its members and registered persons;

  • to regulate management and control of trust funds kept by registered persons for their clients;

  • to represent its members and registered persons on matters relating to the profession of accountancy and auditing to the Government and to any national, regional or international body or organisation;

  • to do any other thing that promotes the interest of its members and registered persons in accordance with the objects of the Institute under this subsection or to give effect to the provisions of this Act.