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On July 24, 1961, the legislative bodies of the Federal Republic of Germany enacted a new uniform professional code for certified accountants and licensed accountants. This new code came into force on November 1, 1961. In this article the author shall attempt to describe those aspects of the new code which appear to be of some interest to professional accountants outside the Federal Republic and in the U.S. particularly. Under the provisions of the new code, the two professional groups of certified accountants and licensed accountants will continue to exist side by side, but no additional licensed accountants will be appointed, so that ultimately this professional group will disappear. To accelerate this process, the code provides that those who are now licensed accountants shall have the opportunity to join the group of certified accountants merely by taking an oral examination. Licensed accountants are authorized, as before, to certify audits of books and accounts, with the exception of mandatory audits of stock corporations, which have always been reserved to certified accountants.