The Institute of State Authorized Public Accountants in Iceland

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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. Membership is mandatory to authorized public accountants according to law.

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 in Reykjavik, November 10th 2017 a new board was appointed for the Institute as follows: 

 

President     

Mr. H. Ágúst Jóhannesson, KPMG

Vice President                           

Ms. Bryndís Björk Guðjónsdóttir, PriceWaterhouseCoopers

Member of the board              

Mr. Guðni Þór Gunnarsson, Íslensk endurskoðun

Member of the board              

Ms. Sif Jónsdóttir, Deloitte ehf.

Member of the board              

Ms. Anna Kristín Traustadóttir, Ernst&Young

FLE´s President 

H. Ágúst Jóhannesson is the president of the board. He was born in Reykjavik in 1960. He graduated from The University of Iceland with a Cand. oecon. degree 1986 and was licenced as an authorized accountant in 1999. He started his carrier at The Accountant firm N. Manscher in 1986 and at Lind hf and Landsbanki Íslands until 1995 when he joined SamEnd which turned to BDO Accounting to 1997. He worked for Ernst & Young 1997-1999 when he got his licence and since then he has worked as an authorized accountant and partner at KPMG.

Ágúst, as he prefers to be called, has been active at the Institute of Authorized Accountants in Iceland as a member and for the last two years he has been a vice-president of the Institute´s board. If you need to contact him you can send e-mail to: ajohannesson@kpmg.is

FLE´s CEO

Sigurður B. Arnþórsson is FLE´s CEO since 2009. He was authorized as an public accountant in 1982. He can be reached by phone: +354 568 2704 /GSM +354 894 8110 and E-mail: sigurdur@fle.is 

To qualify

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

  1. Have a permanent residence in Iceland or be a citizen 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 reputation 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 minimal of three years relevant work under the supervision of an accountant, working with auditing and accounting, within an audit firm 

All inquires regarding the authorization should be sent to Mr. Jon Arnar Baldurs (jon.a.baldurs@gmail.com)

Individuals that have qualified as state authorized public accountants become mandatory members of FLE. Today the total membership is around 370.


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 Fridays 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
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 individual accounting firms.

Click here to look up individual members of the FLE.