The start of the Authority’s activities was in 1960, when we formed as the British Group of the American Association of Cost Engineers (AACE) and we became an independent body and was legally incorporated as The Association of Cost Engineers Ltd (ACOSTE) in 1962.  

We have been at the forefront of industry creating the first standard Glossary of Terms used in Cost Engineering in 1967 and developing the Standard Method of Measurement of Construction Engineering in 1972. In 1986 the National Council for Vocational Qualifications (NCVQ) was established which became the catalyst for a whole series of professional developments (NVQ/QCF/RQF) that are still ongoing today with the release of the recently updated National Occupational Standards (NOS) in 2025. We have always been involved with any trailblazing from updating of National Occupational Standards, new Project Controls qualifications owned by the Engineering and Construction Industry Training Board (ECITB) and the newly released BS202001 Project Controls Standard.  

In 2008 the Authority established the approach for tiered accreditation (rather than just Certified status) in response from feedback from members and industry. This accreditation is built upon UK Spec with the lens of Project Controls. Therefore we can offer both engineering registration and professional accreditation at all levels of an individuals career. 

In partnership with the American, Dutch and Mexican Cost Engineering professional bodies the International Cost Engineering Council (ICEC) was formed in 1976. Today it represents 120,000 professionals in over 120 different countries. We hosted the 13th International Cost Engineering Congress in London in 1994 with delegates from around the world. Today we hold a multitude of partnerships, affiliations and memorandum of understandings (MOUs) with other professional bodies.