The Council is composed of 11 members i.e. 8 directly elected members and 3 ex-officio members. The ex-officio members are Government of Uganda officials; namely, the Accountant General, Auditor General and Commissioner for Education.

The ICPAU Council 2007

Functions of Council:

(a) To admit members to the Institute.
(b) To approve courses of study.
(c) To provide for the registration of students and qualifications for registration.
(d) To issue practising certificates/licences.
(e) To supervise and regulate the practical training and education of accountants.
(f) To maintain and publish the role of members.
(g) To supervise the registration and maintain the register of accountants and publish their names in the Gazette.
(h) To ensure the maintenance of professional standards among members of the Institute.
(i) To provide the usage of internationally accepted accounting and related standards.
(j) To secure international recognition of the Institute.
(k) To maintain a library.
(l) To promote the publication of a journal of the Institute.
(m) To encourage research in accountancy.
(n) To regulate the conduct and promote good ethical standards and discipline of members of the Institute.
(o) To prescribe fees and subscriptions payable by members and students of the Institute.
(p) To make by-laws of the Institute.
(q) To do anything that is incidental to the functions of the Institute.

Committees and Examinations Board of the Council

The Council is assisted by the following:
1. Public Accountants Examinations Board (PAEB).
2. Education Committee.
3. Members’ Services Committee.
4. Disciplinary and Ethics Committee.
5. Finance Committee.
6. Accounting and Auditing Standards Committee.
7. Marketing Committee 
The members of these committees, unlike those of PAEB,  are appointed by the Council annually.  Each Committee is chaired by a Council member.