The Institute of State Authorized Public Accountants in Iceland (FLE) was established 16th of July 1935 in Reykjavik and is the only professional body of auditors in the country.

From the beginning, the purpose of the FLE has been to strengthen the cooperation between Icelandic state authorized public accountants for common interests and to maintain and improve the standard and reputation of the Icelandic audit profession. FLE is also responsible for professional ethics and issuing of auditing guidelines.

FLE´s board
At FLE´s (The Institute of State Authorized Public Accountants in Iceland)  General Meeting at Akureyri,  November 14th 2009 a new board was appointed for the Institute as follows: 

President	Mr. Thorir Olafsson, PricewaterhouseCoopers hf
Vice President	Mr. Sigurdur Pall Hauksson, Deloitte hf.
Member of the board	Mr. Johann Unnsteinsson,  Ernst & Young
Member of the board	Mr.  Sveinbjorn Sveinbjornsson, Gaeda-endurskodun
Member of the board	Ms. Anna Thordardottir, KPMG

FLE´s President
Thorir Olafsson, (Þórir Ólafsson) is the new president of the board. He was born in the western part of Iceland in 1957. He graduated from The University of Iceland with a BS degree in Business Administration. He became an authorized accountant and got his licence as such in 1989. He started 1984 working for accounting company that later became PricewaterhouseCoopers in Iceland. He went to Akureyri  at the north of Iceland 1989 and spent nine years building up the Akureyri branch of PwC before he came back to Reykjavik. He is now a partner at PwC in Iceland and has been since 1992

He has been active at the Institute of Authorized Accountants in Iceland as a member and later a chairman for the board of education and for the last two years he has been a member of the Institute´s board.  He is married to Margret Kjartansdottir and the have two children. If you need to contact him  you can send e-mail to: thorir.olafsson@is.pwc.com

NRF  President
At the General Assembly of NRF (The Nordic Federation of Public Accountants) in Gothenburg, August 2009, Ms. Margret Flovenz was appointed as the president of NRF for the next two years (2009-2011). She was the chair of FLE 2007-2009.

To qualify
To qualify  as a state authorized public accountant in Iceland, according to Law on auditors No. 79/2008, an individual must:  

1. Have a permanent residence in Iceland or be a citicen of EES, EFTA or Faroe Islands
2. Be of legal age and have had a continuous statutory for the last three years
3. Have immaculate reputition as defined for being eligible as a member of parliament
4. Have completed a master degree in auditing and accounting from an university approved by the Audit Oversight Board
5. Pass a comprehensive  examination conducted by the Audit Oversight Board
6. Conduct a minimun of three years relevant work under the supervision of an accountant, working with auditing and accouting, within an audit firm 

Individuals that have qualified  as state authorized public accountants become mandatory members of FLE. Today the total membership is around 350.

A large number of accounting firms operate in Iceland and most of the major international accounting firms have member firms or representative firms in the country.

The office of the Institute is open Mondays to Thursdays from 9:00-15:00.
If you would like some further information on the Institute or its members please contact us.

Tel. +354 568 8118
Fax. +354 568 8139
E-mail  fle@fle.is

Addr:
The Institute of State Authorized Public Accountants in Iceland (FLE)
Félag löggiltra endurskoðenda - FLE
Suðurlandsbraut 6
108 Reykjavík
ICELAND

Click here to look up offices of individal accounting firms.

Click here to look up individual members of the FLE.