Audit of profit and non-profit entities, a system of professional accounting, establishment and domain of non-governmental auditing were left undecided for the first 10-15 years after the revolution. The 'Use of Specialized and Professional Services of Qualified Accountants as certified Public Accountant Act' (the Act), enacted in 1993, was a desirable response to this need. According to the Act, government may utilize the specialized and professional service of Certified Public Accountants (CPAs) as it thinks proper and fit, to monitor financial affairs of manufacturing, trading and service entities and also, to ensure the reliability of their financial statements in order to maintain investors, other interested parties and the public interests.
According to sub-section 1 to the Act, the "Recognition of Qualification of Certified Public Accountants" procedural manual was ratified in 1995 by the Council of Ministers and in early 1996, Minister of Economic Affairs and Finance introduced the first group of CPAs as founders of Iranian Association of Certified Public Accountants to develop the association's Articles of Association. The Articles of Association was ratified by the Council of Ministers in September 1998.
The first general assembly of CPAs was convened on August 24, 2001, to elect High Council members. High Council members were duly elected by direct vote of CPA members and the Association was duly established.