The Council is required to:
- Conduct or provide for the conduct of the qualifying examinations for membership of the Institute or for registration as accountant under the Act and to prescribe or approve courses of study for such examinations.
- Supervise and regulate the engagement, training and transfer of articled clerks.
- Specify who trains articled clerks and how the trainer may be deprived of that right.
- Maintain and publish a register of chartered accountants and practise accountants.
- Secure the maintenance of professional standards among persons who are members of the institute and to take such steps as may be necessary to acquaint such persons with the methods and practices necessary to maintain such standards.
- Maintain a library of books and periodicals relating to accountancy and to encourage the publication of such books.