Jim Carrey is to star in 'Ricky Stanicky'.

The comic actor will re-team with his 'Bruce Almighty' writer and 'Ace Ventura: When Nature Calls' writer-and-director Steve Oedekerk in the ensemble comedy.

The picture - which is being produced by Michael De Luca and John Jacobs - is described as being in the vein of 'The Hangover' and begins when three teenagers execute a prank that sees them burn down a house in their neighbourhood. To dodge the blame, they create a fake person to take the rap, Ricky Stanicky.

The story then jumps to 20 years later, where it emerges the three guys have used the same alibi to get out of every uncomfortable situation they have ever faced - and so when their partners force them to set up a meeting with their fake pal, they hire an out-of-work actor to step in.

The film was originally picked up by Summit in 2010, with James Franco attached to play Stanicky. When he departed, Joaquin Phoenix was briefly linked with the project but it then went quiet until now.

Production is expected to begin this summer.