Accountants Act, 1982
This section gives the Act its short title and says it starts on a date the Minister appoints by statutory instrument.
- Jurisdiction
- Zambia
- Instrument
- Act or statute
- Citation
- Act 28 of 1982
- Version
- 31 Dec 1996
- Language
- en
- Official source
- View official record ↗
accountancy accountancy practice accountant conduct accounting accounting practice accounts and audit administration advertising allowances annual general meeting appeals appointments auditing auditor licensing board governance board meetings board tenure borrowing client funds committee administration committee composition committee establishment committee procedure complaints handling +61 more
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About this statute
This section gives the Act its short title and says it starts on a date the Minister appoints by statutory instrument. This section defines key terms used in the Act and says the Minister may appoint the commencement date by statutory instrument. The Institute’s seal is set by the Council, kept by the Secretary, and its use must be authenticated by specified officers; some contracts or instruments may be executed without the seal. The provided text is too garbled to reliably extract a rule. This section appears to deal with the Institute’s constitution and mentions a council, a disciplinary committee, honorary members, and a secretary, but the text is badly corrupted.
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Legal text
Provisions of Accountants Act, 1982
Showing 58 of 58
Part
PART I
- 1 Verify source ↗
Thi,
This section gives the Act its short title and says it starts on a date the Minister appoints by statutory instrument.
1. This Act may be cited as the Accountants Act, 1982, and shall come into operation on such date as the Minister may, by statutory instrument, appoint. - 2 Verify source ↗
Interpretatio
This section defines key terms used in the Act and says the Minister may appoint the commencement date by statutory instrument.
2. In this Act, unless the context otherwise requires- " accountant" includes auditor, t.ax consu1tant and tax: adviser, and " accountancy " shall be construed ac cordingly; " Chairman " moans the person elected Chairman of the Council under section eleven; " constitution " means the constitution of the Institute referred to in section six; *This Act shall come into operation on such do.teas the .Minister may, by statutory instrument, appoint. 218 No. 28 of 1982] Accountants " Council " means the Council of tho Institute; "Council member" means a membor of the Council; "Disciplinary Committee " means tho Disciplinary Com- mittee of tho Institute; u honorary member " means a person upon whom honorary membership of the Institute has been conferred in accordance with subsection (2) of section nineteen; " Institute " meana the Zambia Institute of Certified Accountants established by section three; " member " moans a rogistered accountant o.nd an honor ary member; " practising certificate " moans a practising certificate issued in accordance with section twenty-five; " professional misconduct " shall be construed in accordance with section twenty-nine; " regi�ter " means a register prepared and maintained in accordance with section twenty; " registered accountant " means a person registered as an accountant in accordance with the provisions of Pa.rt IV; " Secretary " means the person appointed Secretary to the Institute under section sixteen; "Vice-Chairman" means the person elected Vice-Chair man under section eleven. PART II ZAMBIA INsTrrUTE OF CERTIFIED AocouNTANTS Establish ment of Institute 3_ There is hereby established tho Zambia. Institute of Certified Accountants which shall be a body corporate with perpetual succession and a comn1on seal, capable of suing and of being sued in its corJ_Jorate name, and with power, subject to the provisions of this Act, to do all such acts and things as a body corporate may by law do or perform. Se11l of Institute
Part
PART II
- 4 Verify source ↗
Seal of Institute
The Institute’s seal is set by the Council, kept by the Secretary, and its use must be authenticated by specified officers; some contracts or instruments may be executed without the seal.
4. (I) The seal of the Institute shall be such device as may be determined by the Council and shall be kept by the Seore_tary. (2) Tho Council may use a wafer or rubber stamp in lieu of the seal. (3) Tho affixing of tho seal shall be authenticated by the Chairman or Vice-Chairman. and the Secretary or one other person authorised in that behalf by a resolution of the Council. (4) Any contract or instrument which, if entered into or executed by a person not being a body corporate, would not require to be under seal may bo entered into or executed without sea.I on behalf of tho Institttto by the Secretary or any other person generally or specificnlly authorised in that behalf by the Institute. - 5 Verify source ↗
Functions of Institute
The provided text is too garbled to reliably extract a rule.
5. (I: acts aw the pro: (2) \I tho Ins, (a) (b) (c) (d) (,) (j) - 6 Verify source ↗
Constitution of In
This section appears to deal with the Institute’s constitution and mentions a council, a disciplinary committee, honorary members, and a secretary, but the text is badly corrupted.
6. (I: of tho 1 adopt a amend: (2) T Act or conduc1 (3) S for the (a.) (c) (rl) (e) ituto; ,he Council; isciplinary Com• , whom honorary �n conferred in a nineteen; 1te of Certified ., t and an honor- iaing cortificato ji.ve; construed in '. maintained in ·egistered as an ons of Part IV ; :ecretary to the ed Vice-Chair- NT.ANTS t Institute of ,orporate with a of suing and ,owor, sub jeot nd things as a levico as may the Secr".tary. ,mp in lieu of catcd by tho or one other .f tho Council, ;ered into or ,e, would not or executed cotary or any 1 that behalf Accountanf.8 [No. 28 of 1982 219 - - 5 Verify source ↗
Functions of Institute
The Institute must carry out acts needed to advance the accountancy profession and may provide training, examinations, standards support, and public/professional assistance.
5. ( 1) The functions of the Institute shall be to do all such acts and things as are necessary to foster the advancement of the profession of accountancy. FunotionB of Institute (2) Without prejudice to the generality of subsection (1), tho Institute may- (a) assist in the education and training of persons practis- ing or intending to practise the profession of ao c�nmtancy; (b) ,conduct professional examinations in accountancy; (c) maintain and improve the professional standards of accountants; (d) represent, protect and assist accountants in regard to their conditions of practice, remuneration or other wise; (e) protect and assist the public in all matters relating to the practice of the profession of accountancy; (f) promote the international recognition of qualifications conferred by the Institute. - 6 Verify source ↗
Constitution of In
The Institute must adopt its constitution by a two-thirds vote at a general meeting, and it may amend the constitution in the same way.
6. (I) The Institute shall, by a vote of at least two-thirds of tho members voting at a general meeting of tho Institute, adopt a constitution of the Institute, and may in like manner amend it from time to time. Constitution of Institute (2) The constitution shall, subject to the provisions of this Act or any regulations made under this Act, regulate the conduct of the affairs of the Institute, (3) Subject to subsection (2), the constitution may provide for the following matters: (a) meetings of tho Institute, tho Council and committees of tho Council, including delivery and sufficiency of notices of such meetings, quorum, voting, adjourn ments and other matters of procedure or conduct of such mootings; (b) financfal matters, including the financial year of the Institute, accounts, statements of accounts and publication thereof, auditing of accounts, remunera tion or allowances of Council members, members of committees of the Council, members of the Disci plinary Committee and staff of the Institute; (c) composition, functions, powers and procedures of committees of tho Council; (d) establishment, powers and functions of branches of the Institute; (e) classes of registered accountants and honorary members including their rights, privileges and obligations; ' i 220 No. 28 of 1982] Accountants (f) maintaining of registers of members including details to be included in such registers , place where tho registers are to be kept and inspection of such registers ; (g) grounds and conditions on which applicants for registration or for practising certificates may be disqualified or rejected ; (h) annual or other foes payable by members, foes for application for registration, registration cortificatos, practising certificates, or copies thereof; (i) powers of tho Council or restrictions on such powers or on delegation of such powers ; (j) qualifications, recognition of qualifications, exami nations, fees and other matters relating to persons intending to become rogistorod accountants. ( 4) Tho.constitution may permit some or any of the foregoing matters.to be dealt with in tho rules made by the Council. Meetings of Institute - 7 Verify source ↗
Meetings of Institute
The Institute must hold an annual general meeting within six months after each financial year, give at least 14 days' notice, and include the meeting details and business in the notice.
7. (1) The Institute shall hold au annual general mooting within six months of each financial year upon giving not less than fourteen d&ys' notice specifying the place, day and time of such meeting and the business to be transacted thereat : Provided that the proceedings at any such meeting shall not be invalidated by inadvertent omission to give notice to any member. (2) Tho Institute may call a special general meeting upon giving such notice as may bo prescribed in its constitution : Provided that if twenty or more registered accountants by notice in writing signed by such accountants call for a special general mooting, such mooting shall bo called by tho Chairman within such period as may be specified by tho constitution. (3) Thero shall prosido at any meeting of the Institute- (a) the Chairman, or in tho absonco of tho Chairma,1, tho Vice-Chairman; or (b) in tho absonco of tho Chairman and the Vice-Chairman, such member as tho mombors present may oloot for tho purpose of that moating. (4) Subject to tho provisions of this Act, tho Institute may regulate its own procedure. (5) Tho validity of any procoocliugs, act or decision of tho lnstituto shall not be affected by any absonco from any meeting of tho Institute or by reason that any person not ontitlod to do so took part in tho proceedings. Funds of Institute - 8 Verify source ↗
Funds of Institut
The Institute’s funds must be used for specified expenses, and the Institute must keep accounts and have them audited.
8. (!) Tho funds of tho Institute shall consist of such moneys as may--, (a) be paid to the Instituto pursuant to this Act; (b) be paid to and (c) vest in or (2) Tho Institu constitution- (a) accept m< any sour< (b) raiso by " may roq1 Provided th,,t t donations or miso side Zambia witho (3) Thero shall I (a) tho salari, Instituto (b) such ro1LH1 ullow1L11c1 com mitt,< busino:i.'I • ma.y dnl;t1 (c) any othor dis<:hargu (4) Tho l1hstit,111 fit such of its fuwl discharge of its fn 9, (1) Tho In•ti accounts and ot.111, (2) Tho lnstitul end of each lin:111, pared and auditor! - 10 Verify source ↗
Council of Institute
The Institute may accept grants or donations in Zambia and may borrow money needed for its functions, but it needs the Minister’s approval to take money from outside Zambia.
10. For tho pro tuto, thore sh,,11 l Council of tho Z which shall co1hsiHI (a) two r<:gi•t on such detcrn1i111 ( b) ten rcgis1 an annua eluding dotalln ,ce whoro tho such rogisturn: •pplicants fur ,ates may bo .bors, foos fur 1n cortifico.tur,, 1 such powor• ,tions, oxami- 1g to porscm• a.nts. f the forogoi111-1 ouncil. noral mootiw• ,.. . . :1vmg not loss day and timo 1 thoroat: meeting shall o give notico moeting upon ,titution : ,countants by l for a special bho Chairman ,titution. stitute- .o Chairman, co-Chairman, nay elect for 1stituto may 1cision of tho . any mooting ,t ontitlod to such moneys Act; It 1 : � ', I (! I' . l l ! \ I ' ' : • I ' I I i I i ! Accountant.s [No. 28 of 1982 221 (b) be paid to the Institute by way of grants or donations; and (o) vost in or accrue to tho Institute. (2) Tho Institute may, subject to tho provisions of its constitution- (a) accept moneys by way of grants or donations from any source in Zambia; and (b) raise by way of loans or otherwise such moneys as it may require for the discharge of its functions: Provided that tho Institute shall not accept any grants or donations or raise any loans or moneys from any source out• side Zambia without tho approval of the Minister. (3) There shall be paid from tho funds of tho Institute- (a) the salaries, allowances and loans of tho staff of the Institute ; (b) such roasonablo travelling, transport and suhsistence allowances of Council members or members of any committoo of the Council when engaged on the business of tho Institute at such rates as tho Institute may determine ; and (o) any other expenses incurred by the Institute in the discharge of its functions. ( 4) The Institute may invest in such manner as it thinks fit such of its funds as it does not immediately require for the discharge of its functions. - 9 Verify source ↗
Account
The Institute must keep proper accounting records and prepare and audit annual accounts within six months after each financial year ends.
9. (1) The Institute shall cause to bo kopt proper books of Accounts accounts and other records relating to accounts. (2) The Institute shall, not la.tor than six months after tho end of oach financial year, cause annual accounts to be pre· pared and anditod in accordance with its constitution. PART ID AmUNISTRATION OF INSTITUTE
Part
PART ID
- 10 Verify source ↗
Council of Institute
The Council must meet at least every three months, keep minutes, and follow notice, quorum, and voting rules.
10. For the proper management of the affairs of the Insti- Counoil of tute, there shall bo an executive committee to be called the Institute Council of the Zambia Institute of Certified Accountants which shall consist of the following Council members- (a) two registered accountants appointed by the Minister on such terms and conditions as the Minister may determine; and (b) ten registered accountants elected by members at an annual general meeting of the Institute : request of �o Council : the ad I a general each year rrongst its hold offico respective ,n of their Chairman : his office, acates his , from the :st ·Council agreement three shall tr and the 1 of office, ,he Council Jil meinber , Institute. movement bin.; ings of the th's notice by him to ,ii member � Minister. er ma.y be ;, and the egulate its Accountants [No. 28 of 1982 223 (2) For tho transaction of its business, the Council shall meet at such times, being not less than once every three months, and at such places as the Chairman may determine. (3) Upon giving notice of not less than fourteen days, a meeting of the Council may be called by the Chairman and shall be called if not less than five Council members so request in writing: Provided that if the urgency of any particular matter does not permit the giving of such notice, a special meeting may be called upon giving shorter notice. I ' ( 4) At any meeting of tho Council, one-half of the Council members holding office at that time shall form a quorum. (5) A decision of the Council on any question shall ho by a majority of the Council members prnsent and voting at the meeting and, in the event of an equality of votes, the person presiding at the meeting shall have a casting vote in addition to his deliberative vote. (6) The Council may invite any person, whose presence is in its opinion desirable, to attend and to participate in the deliberations of a meeting of the Council but such person shall have no vote. (7) Tho validity of any proceedings, aot or decision of the Council or any committee of the Council shall not ho affected by any vacancy in the membership of the Council or committee of the Council, as the case may be, or by any defeot in the election or appointment of any Council member or members of such committee or by reason that any person not entitled t.o do so took part in the proceedings. (8) '!.'he Council shall cause minutes to be kept of the proceed ings of every meeting of the Council and of every meeting of any committee of the Council. - 14 Verify source ↗
Committees of Coun c il
The Council may set up committees, delegate functions to them, and committees may manage their own procedure, subject to the constitution and Council directions.
14. (1) The Council may, subject to the provisions of the Committee, of Council constitution, ea tablish any number of committees to assist the Council in the performance of its fonctions. (2) The Council may delegate to any committee established in accordance ,vith this section, such of its functions as the Council may think fit. (3) Subject to the provisions of the constitution and any specific or general directions of the Council, a committee established in accordance with this section may regulate its own procedure. 222 No. 28 of 1982] Accountants Provided that the Minister may, at the request or the Council, increase the membership of the Council by statutory instrument, and thereafter the ad ditional Council members shall be elected at a geneml meeting of the Institute. Chairman ond Vice. OhairmllO - 11 Verify source ↗
Chairman and Vice-Chair
Each year, the Council must elect a Chairman and a Vice-Chairman from among its members.
11. (1) The Council shall at its first meeting in each year elect a Chairman and a Vice-Chairman from amongst its members. (2) The Chairman and the Vice-Chairman shall hold offico for a period of one year from the date of their rospectivo election, and may be re-elected upon the expiration of their term of office. (3) If the office of Chairman is vacant or if the Chairman is unable for any reason to perform the functions of his office, the Vice-Chairman shall perform such functions. Tenure of office of Council members - 12 Verify source ↗
Tenure of offic
A Council member normally holds office for three years, may be re-elected after retirement, and stops serving if specified conditions occur.
12. ( l) A Council member shall, unless he vacates his office earlier, hold office for a period of three years from tho date of his election: Provided that three of the ten members of the first Council elected in accordance with this Part shall retire by agreement or by lot, at the end of the first year, a further three shall retire in like manner at the end of the second year and the remainder shall retire at the end of the third year. (2) Upon retirement at the expiration of his term of office, a Council member may be re-elected. (3) Any vacancy on the Council may be filled by the Council appointing another member who shall serve as Council member till the date of the next annual general meeting of the Iri.stitute. (4) A Council member shall cease to hold oftice--- (a) if he ceases to be a registered accountant; (b) if he is lawfully detained or his freedom of movement is restricted under any law in force in Zambia; (c) if he is absent from three consecutive meetings of the Council without reasonable cause; (d) upon the expiry of not less than one month's notice in writing of his intention to resign given by him to the Chairman, and, in the case of a Council member appointed by the l\'linister, copied to the Minister. (5) A Council member appointed by the ll'linister may be removed at any time by the ll'linistor. Proeeedinga of Council - 13 Verify source ↗
Proceedings
The Council may regulate its own procedure, subject to this Act and the Constitution.
13. (1) Subject to tho provisions of this Act, and the provisions of the constritution, the Council may regulate its own procedure. ' (2) For tho t, moot at such t months, and at , (3) Upon givi meeting of the ' shall be called i r in writing: Provided tlm1 does not pcrmi1, m<1y be called 111 (4) At any 111, mcmbc:rn hol<li11..!.! (5) A dr.ciHion a mn,jority of I. the moetin� :1.iu person prcsicli ng addition to hi, d (6) Tho Cmm• is in its opinion deliberationH of shall ha.vo no vi 11 (7) The vali,li Council or any c· by any vaca,ncy i of the Council. election or a,ppo of such commit.t. to do so took l'"' (8) The C0111w ings of C\rcry 11\f any commitf;rn: o H. (l) Th" ( constitution. mil, tho Co1mcil in 1,h (2) Tho Coutu· in accorda.nc•o w Council ma.y Lhi, (3) Snbjcd, l,o specific or gc·no established in a,1 own proccdurn. I : I : . I I I ' ' ' 224 Remunera tion and allowances of Council members, etc. No. 28 of 1982) Accountants - 15 Verify source ↗
Remuneration and allo
Council members and committee members, except public officers and employees of parastatal bodies, must be paid remuneration or allowances approved from time to time under the Constitution.
15. (I) A cotmcil member, or a member of any committee of the Cowicil, other than a public officer or an employee of a pn.rastatal bocly, shall be paid such remwieration or allow ance as may be approved from time t-0 time in accordance with the constitution, (2) For the purposes of this section, " parastatal body " means a statutory corporation or body, or a company in which the Government has a majority or controlling interest, and includes a local authority. Secretary and other atatr - 16 Verify source ↗
Secretary and other staff
The Council appoints the Secretary and may appoint other staff for the Institute.
16. (!) 'J.'hcrc shall be a Secretary to the Institute who shall be appointed by the Council on such terms and conditions as the Cowicil may detet·mbie. I i ! I I ' ,· f (2) The Secretary shall act as registrar for tho Institute and shall be responsible for tho administration of the day-to day affairs ·of the Institute under the goncral supervision of the Council. (3) The Secretary shall act as secretary to tho C-Ouncil. (4) The Council may, on such terms and conditions as it may determine, appoint such other staff as it considers neces sary for tho performance of the functions of tho Institute. - 17 Verify source ↗
Disclosure of interest
People at a Council or committee meeting must disclose a private interest in a matter, avoid taking part in discussion or voting unless directed otherwise, and the disclosure must be recorded in the minutes.
17. (!) If a person is present at a meeting of the Cowicil or any committee of the Council at which any matter is the subject of consideration, in which matter such person or bis spouse is directly or indirectly interested in a private capacity, he shall, as soon as practicable after the commencement of the meeting, disclose such interest and sha.ll not, unless the Cowicil or the committee, as tho case may be, otherwise directs, take part in any consideration or discussion of, or vote on, any question touching such matter. (2) A disclosure of interest made under this section shall be recorded in the minutes of the meeting at which it is made. 18. No action or other procceclb1gs shall lie or be instituted against any Council member or any member of a committee of the C-Ow1cil for or in respect of any act or thb1g done or omitted to be clone b1 good faith in the oxercise or purported exercise of bis functions under this Act. Dieolosure or interest Immuoitr. of Counoil members PART IV :MEMBERSHIP OF INSTITUTE Cl&'Jaes of memben
Part
PART IV
- 19 Verify source ↗
Classes of members
The Council may grant honorary membership of the Institute to a person who, in its opinion, has given exemplary service to accountancy, subject to the constitution.
19. (!) There shall be such classes of registered accountants and other members <>S may be proviclecl for in the constitution. (2) Subject t-0 the provisions of the constitution, the Council may confer an honorary membership of the Institute on any person who, in tho opinion of the Council, has rendered exem plary service to the profession of accountancy: Prodded th to be register< membership. (3) Each ch and obligation - 20 Verify source ↗
Register of members
The source text is garbled and does not clearly state a rule.
20. (I) The each class of details of t:al' tion. (2) Th(·. n•g at suc,h n\,.,.,. : (inc,ludii�g t.lu con.'it.it,ution. - 21 Verify source ↗
Qualification for registration
The text is too garbled to reliably extract a rule.
21. (1) /1. J a� an a.cc·ounl (a.) he h, and ymu final (b) he i, npp1 sect (c) he h Jilin eiyh tlw1 a.nd is a blo t,i (2) Tho 111 to produce s Institute ma, (3) The: n: of the Ins! constitution. (4) En:ry may bo pn·s - 22 Verify source ↗
Disqualification from registration
An honorary member cannot be registered as an accountant because of that honorary membership, and each class of member has rights, privileges, and obligations set by the constitution.
22. (I) N, (a) he ho1 (b) ho I urn (c) ho i in (d) it i: ny committee an employee ,tion or allow in accordanM 1statal body " pany in which interest, and tute who shall . conditions ae the Instituto of the day-to •ervision of tho ::..�uncil. mditions as it lnsiders ncccs� 1stitute. of the Council · matter is the . person or his ivate capacity, r1cement of the ess the Council 1e directs, take Yote on, any .s section shall rich it is made. Jr be instituted if a committee thing done or 1e or purported :ed accountants he constitution. ion, the Council nstitute on any rendered cxem- Accountants [No. 28 of 1982 225 i'· Register of members Qualifioo,, tion for rogis(rot.iou Provided than an honorary member shall not be entitled to be registered as an accountant by virtue of such honorary membership. (3) Each class of member shall have such rights, privileges and obligations as may be prescribed in the constitution. - 20 Verify source ↗
Register of members
The Institute must keep a separate register for each class of members.
20. (1) The Institute shall maintain a separate register for each class of its members, wherein shall be recorded such details of each member as may be prescribed by the constitu tion, (2) The registers referred to in subsection (1) shall he kept at such place a11d shall be open to i11spection on such conditions (including the payment of foes) as may be prescribed in the constitution. - 21 Verify source ↗
Qualification for registration
A person may apply to register as an accountant if the stated qualification and experience requirements are met, and the Institute can require supporting evidence and decide the application under its constitution.
21. (l) A pcrso11 shall be eligible to apply to he registered as an accountant if- (a) he bas passed the final examination of the Institute and has bad relevant experience for a period of three yoors, at least one such year being after passi11g suoh final examination; or (b) he is a member of any of the professional bodies approved b y the Mmister by regulations made under section thirty-eight; or (c) he holds any of the qualifications prescribed b y the Minister in regulations made under section thirty eight and has had the relevant experience as prescribed therein ; and is able to satisfy the Institute that he is of good character. (2) •rhe Institute may require any applicant for registration to produce such evidence in support of his application as the Institute may consider necessary. (3) •rhe registration of any applicant shall be at the discretion of the Institute to be exercised in accordance with its constitution. (4) Every applicant for registration shall pay such fees as may be prescribed by the constitution. - 22 Verify source ↗
Disqualification from registration
A person cannot qualify for registration if they have certain dishonesty, mental incapacity, insolvency, or company-status disqualifications. The Institute may also add other disqualification grounds in its constitution.
22. (1) No person shall qualify for registration if- (a) he has been convicted of an offence involving dis honesty; (b) he has been adjudged or otherwise declared to be of unsound mind under a11y Jaw in force in Zambia ; (c) he is an undischarged bankrupt or a receiving order in bankruptcy is in force against him; (d) it is a company registered under the Companies Act. Dioqualifi oo.tion from registration Cop. 686 226 No. 28 of 1982] Accountants (2) '.l'hc Institute may prescribe in its constitution other grounds on which a person may, in the discretion of the· Institute, be clisqun.lified from registration. ' . Certificate of regis tration ond membership fee, - 23 Verify source ↗
Certificate of registration and membership fees
Registered accountants must be issued a certificate of registration showing their class of membership, and the Institute may charge constitution-prescribed fees for certificates, copies, and membership.
23. ( I ) Every registered accountant shall be issued with a. certifici\tc of rcgistra.tion showing his class of membership. (2) Every certificate of registration shall remain tho property of tho Institnto. (3) Tho Instituto ma;v elmrgo such foos fat· n, cortitimto of registration, or copios thoroof, n,s mn.y bo proscribod by tho constitution. (4) Tho Institute may charge such foes for its membership as may be proscribed by tho constitution, and different foo.s may bo proscribed for different chsses of membership. Holding out - 24 Verify source ↗
Holding out
A person who is not a registered accountant must not hold themselves out as, or use titles for, certain accounting and tax roles.
24. (1) No person shall, unless he is arogisterod accountant (a) practise as, offer his services as, or hold himsolf out to be, a qualified accountant, ,iudito1·, t,n.x consultant or ta.x ad vis er ; I I . ' ' . ' ' ' , (b) adopt uso or exhibit tho torms " public a.ccouuta.nt ", " public auditor ", " public tax consultant ", " public tax advisor ,, or any other torn1 of liko description ; or (c) do anything likely to lead persons to infer that he is a registered accountant : Provided tlu,t nothing in this subsection shall operato to provent a loga.l practiti.onor fron1 carrying on tho work of a, tax consultant or tax advisor, or any porson in the servico of the Government or u. local authority from carrying on, for his employer, tho work of an accountant or auditor. (2) Any person ,,ho acts in contravention of subsection (1) shall ho guilty of an off once and shall be liable, upon conviction, to a fino not oxceocling two thousand kwacha or to imprLsonmout for a torm not oxcooding two years, or to both such fino and imprL5onmont. (3) Where an offence under this section is committee\ by a body corporate, ovory director and managor of tho body corporate shall bo doomod to have committed tho offo11co unless ho proves that tho offence was committed without his knowledge or consent. (4) 'Whore a firm docs any act which if done by an indiddual would bo an offence under this section, every partner in that firm shall bo cloemod to have committocl the offcnco unless ho proves that the offonco was committed without his knowledge or consent. - 25 Verify source ↗
(1) No
This section appears to prohibit an auditor from practising as a tax adviser, and it may also restrict related accounting roles.
25. (1) No auditor I tax ., such practice: a. practising c with the prm· Provided t: prevent a log ta.x adviser c 1,ra-ctico. (2) No pm, accountant ,, partner of " Zambia. (3) A prnc tho payment, tion and shal (4) Any I soction ( I ) " upon convict (3) and (4) of - 26 Verify source ↗
Cancellation of practising certificate or registration
The text is garbled, but it appears to deal with cancellation of a practising certificate or registration and the issue of a new certificate.
26. ( 1) Tl if it has not and has rn notico has h notifying hi· (2) Tho I , if it is satisl' (a) Sil<' rn1 (b) sin, di� Providm\ au bsoctio n, to prosont II (3) Tho l issue a now cortifica.to i, tion is crmc (4) Wlw1 accordn.11co certificato I - 27 Verify source ↗
Appeals to Disciplinary Committee
The Institute may set additional grounds in its constitution for disqualifying a person from registration.
27. An: bolrnlfoftl, ,vithin nhw 226 No. 28 of 1982] Acco1tnlanls Certificate of rogis• tmtion and membership feea Holding out (2) Tho Institute may prescribe in its constitution other grounds on which a person may, in the discretion of the· Institute, be disqualified fro m registmtion. - 23 Verify source ↗
Certificate of registration and membership fees
Registered accountants must be issued a certificate of registration showing their class of membership, and the Institute may charge fees for certificates and membership as prescribed by the constitution.
23. (I) Every registered accountant shall be issued with a . certific11,to of registration sho\11ng his class of membership. (2) Every certificate ofrogistration shall ronmin tho property of tho Institute. (3) Tho Instituto may clmrgo such foes for a cortifie.ito of registration, or copios thereof, as may be proscribed by tho constitution. (4) Tho Institute may chargo such foes for its mom borsh.ip as may bo prescribed by the constitution, and ,lifforont foos may bo prescribed for difforont classes of momborship. - 24 Verify source ↗
Holding out
Only registered accountants may hold out as or work as listed accounting and tax roles; breaches are offences punishable by fine or imprisonment.
24. (1) No person shall, unloss ho is a rogistcrod accountant (a) practise as, offer his services as, or hold himself out to bo, a qualified accountant, auditor, tax consultant or tr..x ad vis er ; (b) adopt, use or exhibit tho terms " public accountant ", " public auditor ", " public tax consultant ", " pulilic tax ad'\-isor " or any other torn1 of like description ; or (c) do anything likely to lead persons to infer that he is a registered accountant : Provided thnt nothing in this subsection shall oporato to prevent a legal practitioner from carrying on tho ,vork of a. tax consultant or tax adviser, or any person in tho sorvico of the Government or a local authority from carrying on, for his omployor, tho work of an accountant or auditor. (2) Any person who acts in contravention of subsection ( I ) shall b e guilty of a n offence and shall b o liiiblo, upon conviction, to a fine not oxceoding two thousand kwacha or to imprisonmont for n. torm not oxcooding two yea.rs, or to both such fine and imprisonment. (3) Whore ttn offence undor this section is committed by a body corporate, ovory director and manager of tho body corporate shall bo deemed to havo committed the offonco unless ho proves that tho offence was committed without his knowledge or consent. (4) Whore a firm doos 11ny act which if dono by an indiddual would be an offence under this section, ovory partner in that firm shall be doomod to have committed tho offence unless ho proves that the offence was committed without his knowledge or consent. - 25 Verify source ↗
( I ) No
Section 25 appears to restrict conduct by auditors, tax advisers, and practising accountants, but the source text is partly garbled.
25. ( I ) No auditor, tax :1 such practice, a practising c with the prm· Pro,1dcd t· prevent n. loµ tax adviser c practice. (2) No pm· accountant ,, partner of a Zambia. (3) A pmc tho payment, tioll and sh:Li (4) Any J section (I) " upon eonvic:1 (3) and (4) of - 26 Verify source ↗
Cancellation of practising certificate or registration
The text appears to deal with cancellation of a certificate or registration and the possible issue of a new certificate.
26. (1) Tl if it has not and has rn notico has Ii notifying hi (2) Tho I , if it is satisl (a) Sll" n,1 (b) situ dii- Providetl eubsoction, to present It (3) '£ho l issue a now certificate i, tion is cane (4) Whot accor<la.nco certificatu 1 - 27 Verify source ↗
Appeals to Disciplinary Committee
This section appears to deal with appeals to the Disciplinary Committee, but the OCR text is too corrupted to extract the exact rule.
27. Al\' behalfol'tl; within nirn . I ' ·, I , ,ion othor , on of t,ho cd with " ,rship. o proporty :tifieittO of od by tho embersltip ferent foo8 1ountant timsolf out consu!taat ounta.nt n , " , " pulilic :ription; or that he is oporato to work of a ;he sorvico ing on1 for ,section ( I ) conviction, ?risonmoat ,h fiao and titted bv a tho bodv ,he offonco ,�thout his , indi .-iclual 1er in that 3 unloss ho knowlodgo I I ' ,, l ' Accountants [No. 28 of 1982 227 Practising certificate - 25 Verify source ↗
(1) No person shall sot up in practice as an accountant,
Only registered accountants with a practising certificate from the Institute may practise as accountants, auditors, tax advisers, or tax consultants; legal practitioners are excepted for tax adviser/tax consultant work.
25. (1) No person shall sot up in practice as an accountant, auditor, tax advisor, or tax consultant or be a partner in any such practice, unless ho is a registered accountant and holds a practising certificate issued by tho Institute in accordance with the provisions of its constitution: Provided that nothing ll), ,this subsection shall opomte to prevent a logal practitiono� from setting up in practice as a ta.x adviser or tax consultant, or being ' a partner in such practice. (2) No practising certificate shall bo issued to any registered accountant who is not resident in Zambia or who is not a partner of a holder of a practising cortificato practising in Zambia, (3) A practising certificate shall be renewed annually upon tho payment of such foes as may bo prescribed by the constitu tion and shall bo displayed prominently at tho place of practice. (4) Any person who contravenes the provisions of sub section (1) shall bo guilty of an offence and shall be liable, upon conviction, to the punishments set out in subsections (2), (3) and ( 4) of section twenty-four, - 26 Verify source ↗
Cancellation of practising certificate or registration
The Institute may cancel a practising certificate or a member’s registration in specified cases, and a cancelled registration makes any practising certificate void.
26. (1) The Institute may cancel a practising certificate if it has not been renewed within fourteen days of its expiry and has remained unrenewed thirty days after a written notice has been sent to the holder of tho practising certificate notifying him of his failure to renew. Cancellation of practising certificate or registration (2) The Institute may cancel the registration of any member if it is satisfied that- (a) such registration was obtained through fraud, mis representation or concealment of any material fact; or (b) since such registration, circumstances have arisen disqualifying the member from registration : Provided that before cancelling any registration under this subsection, tho Institute shall givo such member an opportunity to prosont his oaso, if any, against such cancellation. (3) Tho Institute may, in accordance with its constitution, issue a now practising cortifioato to a person whoso practising cortificato is cancollod, or re-rogistor o, person whoso rogistra tion is cancollod. ( 4) Where the registration of any person is cancolled in accordance with tho provisions of th.is Act, any practising certificate held by such person shall become void. - 27 Verify source ↗
Appeals to Disciplinary Committee
A person aggrieved by a decision of the Institute may appeal to the Disciplinary Committee within 90 days.
27. Any person aggrieved by any decision made by or on behalf of the Institute may appeal to tho Disciplinary Committee ,vithin ninety days of such decision, Appeals to Disciplinary Cornmitteo 228 No. 28 of 1982] Accountants Offenoos relating to regi.etro.tion, etc. - 28 Verify source ↗
Offenoos relating to registration, etc
Any person must not make unauthorised changes in registration documents or use fraud, misrepresentation, or concealment to get a practising certificate or registration.
28. Any person who- (a) makos or causos to be made, an unauthorised entry, alteration or erasure in a register, cortificato of rogistrntion, practising certificate, or in any copy thereof; or (b) procures or attompts to procure for himself or any other person a practising certificate or registration of any matter by moans of fraud, misroprosontation or concealment of any material fact; shall be guilty of an offence and shall bo liable, upon conviction, to a fine not exceeding two thousand kwacha or to imprison ment for a term not exceeding two years, or to both such fino and imprisonment. PART Y DISCIPLINE Professional misconduct Disciplinary Committ.ee
Part
PART Y
- 29 Verify source ↗
Professional misconduct
A member of the Institute commits professional misconduct if he does any act or thing listed in the Schedule.
29. A member of the Institute shall be guilty of professional misconduct if he does any of the acts or things set out in the Schedule.
Part
Schedule.
- 30 Verify source ↗
Disciplinary Committee
The Institute must elect a Disciplinary Committee at each annual general meeting, and the chairman or vice-chairman must preside over committee meetings.
30. (I) The Institute shall, at each annual general meeting, elect from amongst its members other than members of the Council, a Disciplinary Committee of tho Institute composed of the following members: (a) a chairman of the Disciplinary Committee ; (b) a vice-chairman of the Disciplinary Committee ; and (e) not less than two and not more than four other members : Provided that a retiring member of the Disciplinary Com mittee may be re-elected. (2) The chairman of the Disciplinary Committee, or in his absence. the vice-chairman of the Disciplinary Committee, shall pres'do at every meeting and every sitting of tho Disci plinary Committee. - 31 Verify source ↗
Functions of Disciplinary Committee
The Disciplinary Committee may hear and determine complaints or allegations against registered accountants or the Institute, and appeals from Institute decisions.
31. Tho functions of the Disciplinary Committee shall be to hear and determine- (a) any complaint or allegation against a registered accountant; (b) any complaint or allegahlon against tho Institute or any o, gan thereof; (c) any appeal from any decision made by or on behalf of the Institute. - 32 Verify source ↗
Proceedings of Disciplinary Committee
The Disciplinary Committee may not sit unless it has an uneven number of members, and three members form a quorum.
32. (I) Three members of the Disciplinary Committee shall form a quorum: Provided that the Disciplinary Committee shall not sit unless it is made up of an uneven number. Functions of Disciplinary Committee Procoedings of Disciplinary Committee (2) Any mittee shal of the Disc sitting shal (3) All 1: in camera. (4) The record of i1 (5) Any mittee sh"! (6) Evo1 in the fori be suppliu person afT, (7) Subj plinaryCo and tho pt - 33 Verify source ↗
Powers of Disciplinary Committee
The Disciplinary Committee must decide questions by majority vote, keep records, hear proceedings in camera, give reasoned decisions to parties and affected persons, allow legal representation, and may make procedural rules.
33. ( I ) of any illq oaths. (2) Any mitteo m:1 issue of u1 before tho Provide such sum1 compelled (3) AnJ Committ( (a) r< (b) h (c) r• (,/) r· shall bo viction, fc one thou• i i 1<1 ontr\' ficn.to ;,I· ny copy f or :uw �ist,r:1.tio;l 3onta1,i,111 ,nviction , impriflOll such finn .AccountantB fNo. 28 of .1982 ------- 229 (2) Any queation before a sitting of the Disciplinary Com ntlttee shall be decided by a majority of votes of the members of the Disciplinary Committee sitting and every member so sitting shall record a vote. (3) All proceedings of the Disciplinary Committee shall be in camera. (4) The Disciplinary Committee shall cause to be kept a record of its proceedings. (5) Any party to a hearing before the Disciplinary Com ntlttee shall be entitled to be represented by a legal practitioner. ·ofossio1uLI >Ut in tho l mcet..ing, ;3rs of th,, compos,"'I ittce ; and Our otlwr 1ary 00111- , or in hiH !ornmiLt.e11, tho Disci ie shiill bu registercc 1 ustibuto or · on behalf OommittoC;1 all not Ait I . I I ' (6) Every decision of tho Disciplinary Committee shall be in tho form of a reasoned judgment and a copy lhereof shall be supplied to each party to the proceedings and to every person affected thereby. (7) Subject to tho provisions of this section, the Disci plinary Committee may make rules regulating its own procedure and the procedure for the hearing of any matter before it. - 33 Verify source ↗
Powers of Disciplinary Committee
The Disciplinary Committee may hear evidence, administer oaths, and impose disciplinary penalties; people summoned to attend must comply with the summons-related requirements or face an offence and fine.
33. (1) The Disciplinary Committee may, for the purposes of any i nquiry, hear and receive evidence and may administer oaths. Powers of DisciplinMjl' Committee ' ' (2) Any party to a hearing before the Disciplinary Com ntlttee may apply to a court of competent jurisdiction for the issue of summons to give evidence or to produce documents before the Disciplinary Committee : Provided that no person shall be compelled under any such summons to produce any document which he could not be compelled to produce on the trial of an action. (3) Any person summoned to attend before the Disciplinary Committee who, without sufficient cause-- (a) refuses or fails to attend at tho time and place specified in the summons or, having attonded, leaves without the permission of the Disciplinary Committee ; or (b) having attended, refuses to be sworu or to affirm; or (c) refuses, without lawful excuse, to answer fully and satisfactorily to the beat of his knowledge and belief, any question lawfully put to him; or (1Z) refuses to produce any book, record, document or thing which he has been required by summons to produce; shall be guilty of an offence and shall be liable, upon eon• viction, for every such refusal or failure, to a fine not exceeding one thousand kwacha. l i I' I I 230 No. 28 of 1982] AC".,ountants (4) A hearing before the Disciplinary Committee shall, for all purposes, and in particular for the purposes of Chapter XI of tho Penal Code, be deemed to be a judicial proceeding. Cap. 146 (5) Where the Disciplinary Committee, after due inquiry, finds a registered accountant guilty of professional misconduc-t, it may impose one or more of the following penalties, that is to say it may- (a) order the cancellation of his practising certificate or registration; (b) censure him; (c) caution him; (d) impose a fine, not exceeding two thousand kwacha, to be paid to tho Institute; (e) order him to pay to the Institute or to any other party to tho hearing any costs of or incidental to the proceedings; (j) order him to pay to any party to the hearing or other person, as restitution, the amount of loss caused by his negligence; (g) impose any reasonable conditions for the postponement or suspension, for a period not exceeding one year, of any of the foregoing punishments. (6) In any hearing before the Disciplinary Committee, any finding of fact, which is shown to have been made by any eourt in Zambia shall be conclusive evidence of the fact so found. 1 \ Reports by Disciplinary Committee to Institute - 34 Verify source ↗
Reports by Disciplinary Committee to Institute
The Disciplinary Committee must send the Institute a report and a copy of the hearing record as soon as practicable after each hearing ends.
34. The Disciplinary Committee shall, as soon as practicable after the completion of each hearing, submit to the Institute a report of the proceedings together with a copy of the record kept in accordance with subsection (4) of section thirty-two. Appeals to High Court - 35 Verify source ↗
Appeals to High Court
A person aggrieved by a Disciplinary Committee decision may appeal to the High Court within 30 days of notice, and the High Court may confirm, vary, or set aside the Committee’s finding, penalty, or direction.
35. (I) Any person aggrieved by any decision of the Disciplinary Committee may appeal to the High Court within thirty days of such decision being communicated to him. (2) On any appeal under this section, the Institute shall be tho respondent. (3) The cancellation of any registration ordered by the Disciplinary Committee under this Part shall not take effect until the expiration of the time for lodging an appeal against such order or, if an appeal is lodged, until such time as the appeal is disposed of, withdrawn or struck out for want of prosecution, as the case may be. (4) Tho High Court may, on any appeal under this section (a.) confirm, vary or set aside any finding made, penalty imposed or direction given by the Disciplinary Committee ; {b) rem fur tio (c) ma! thi Provided shall be sot proceedings miscarriage - 36 Verify source ↗
Rules by Chief Justice
This section says rules regulate this Part.
36. '.fhe rules regula1 this Part. 37_ (1) N given by or ruiy person, contents of whatsoever, knowledge i (2) Any I of su bsectio liable, upon kwacha. or yeara, or to (3) Ifo.ny has been pu (1) unlawful to any ot.lic, be liable, up kwacha or years, or to - 38 Verify source ↗
Regulations and rules
38. ( I ) '!'I 1nake rcgul; carrying 0111, (2) The 1 : stitution, n1 committees of the Instil, rogistcred n.t'
38. ( I ) '!'I 1nake rcgul; carrying 0111, (2) The 1 : stitution, n1 committees of the Instil, rogistcred n.t' - 39 Verify source ↗
Repeal and saving
This section says something is repealed and gives the High Court power to send a matter back to the Disciplinary Committee and make further orders.
39. (1) 'I'! repealed. .Accountants [No. 28 of 1982 231 (b) remit the matter to the Disciplinary Committee for further consideration in accordance with such direc tions as the High Court may give; (c) make such other order as to costs or otherwise as it thinks fit: Provided that no proceedings of the Disciplinary Committee shall be set aside by reason only of some irregularity in those proceedings if such irregularity did not occasion a substantial miscarriage of justice. - 36 Verify source ↗
Rules by Chief Justice
The Chief Justice may make rules, by statutory instrument, for appeals to the High Court under this Part.
36. 'fhe Chief Justice may, by statutory instrument, make rules regulating appeals to the High Court provided for under this Part. Ruloa by Chief Justice PART VI GENERAL
Part
PART VI
- 37 Verify source ↗
Prohibition of publication or disclosure of information
People may not publish or disclose certain information learned in the course of duties under the Act without written consent from the Institute.
37. (I) No person shall, without the consent in writing given by or on behalf of the Institute, publish or disclose to ruiy person, otherwise than in the course of his duties, the contents of any document, communication or information whatsoever, which relates to, and which has como to his knowledge in the course of, his duties under this Act. ' , (2) Any person who knowingly contra.vanes the provisions of subsection (I) shall be guilty of an offence and shall be liable, upon conviction, to a fine not exceeding five thousand kwacha or to imprisonment for a term not exceeding three years, or to both such fine and imprisonment. (3) If any person having information which to his knowledge has been published or disclosed in contravention of subsection (I) unlawfully publishes or communicates any such information to any other person, he shall be guilty of an offence and shall be liable, upon conviction, to a fine not exceeding five thousand kwacha or to imprisonment for a term not exceeding three years, or to both such fine and imprisonment. Prohibition of publice.tion or disclosure of information to unauthorised persons - 38 Verify source ↗
Regulations and rules
The Minister may make regulations by statutory instrument, after consulting the Council. The Council may also make rules, subject to the constitution, affecting the Institute and specified related people.
38. (I) The Minister may, in consultation with the Council, make regulations by statutory instrument for the better carrying out of the purposes of this Act. Regulntlona and rul .. (2) The Council may, subject to the provisions of tho con stitution, make rules affecting the Institute, the Council, committees of the Council, Council mombors, members, staff of tho Institute, and persons studying or intending to become registered accountants. - 39 Verify source ↗
Repeal and saving
This section repeals the Public Accountants (Registration) Act and lets existing accountants keep practising for 12 months from commencement, even if they were not registered under the repealed Act.
39. (I) The Public Accountants (Registration) Act is repealed. Repe&l i:md aa.ving. Cap. 597 ttee shall, ClhapterXI ling. 10 inquiry, aisconduct, ies, that is rtificate or d kwacha., any other utal to the 1g or other caused by bponement no year, of 1ittee, any any court , found. ,racticable , Institute the record thirty-two. n of the urt within him. tuto shall d by the ake effect ,al against mo as the r want of section e, penalty 'sciplinary 232 No. 28 of 1982] Accountants '.rranaitiona.l Council and eommitUIQs (2) Notwithstanding the repeal of the·· said Act andltho provisions of this Act, any person practising as an accountant at the commencement of this Act may continue practising, whether or not ho was registered under that Act, for a period of twelve months from the commencement of this Act. PART VII TRANSITIONAL PROVISIONS
Part
PART VII
- 40 Verify source ↗
Transitional Council and committees
The Minister must set up a transitional Council at commencement, appoint its chair and vice-chair, and may extend the Council’s 18-month term in 6-month blocks for good cause. The Council may create transitional committees only with the Minister’s approval.
40. (1) Upon the commencement of this Act the Minister shall, notwithstanding the provisions of sections ten and eleven, appoint a transitional Council consisting of not less than five and not moro than ten persons, and shall designate oneI of their number as Chairman and another as Vice-Chairman. (2) Until it is dissolved in accordance with subsection (4), the transitional Council shall be deemed for all purposes;· to have been duly constituted in accordance with section ten, aµd ,my reference in this Act to the Council shall apply, mutatis ,nutandis, to the transitional Com1eil. (3) Until they have been replaced in accordance with sub section (I) of section eleven, the persons designated Chairman and Vice-Chairman under subsection (!) shall be deemed for all purposes to have been duly elected to their respective offices. (4) The members of the transitional Council shall hold offico for a period of eighteen months from the commencement of this Act, or until such time as the Institute has elected " Council in accordance with section ten, whichever is the earlier: Provided that if the 11inister is satisfied that the period of eighteen months should be extended for good cause, ho may, by statutory instrument. extend such period by up to six months at a time. (5) The transitional Comicil may, with the approval of the lvlinistcr, establish transitional committees of the Com,cil. (6) The provisions of subsections (2) ancl (4) stmll apply, 1nutalis mutandis, t.o memLers of any transitional comrnitteo of the Council which may be established under this Part. SCHEDULE (Stctfon 20) PROFi!:SSlONA.L Mrsoo:,;nvo-r t. A momber of tho Institute shn.U Lio guiit,y of profosaional ul.isconduot if, in respect of his proctico M an a.ccountant, ho- (c} procure� or a.t1�111,p1-,. 1..< 1-hrough tho !ltlrvicou " tJ1iaAct. or hy n1,·n11n ,u (d) pnys or ullow", or o�•.rn aharo, comn1i::.Kio11 ur I profossionol t1orvi,:1111 1 to or for o. rcg:it1lon•d 1•• (t<) ru;cept.8 or nf!rtM'H IA, ,., mit:;i:ion or 1,rol, .. r,•�:" , If! Ilot a rcgii;k11·d n, ,., (f) , dvorlisoi:1 liimt111II, l,uo thut i::i nocoottnr\· 1" , persons l1uvi11µ: 11111•11•• (g) eolicit� dm.•,:I h· o1r 111,I hv circull�r-:-, • nil\'''' I ,· o� any ot.lwr 1111·1L1\II . (h) unlnwfnllv 1 1 ii.rl11·,.,:1 " ' which ruinlel'I IA, 1111, l'I, Jirofo:.sinnul ,1111:1•1�••1,,.,, (1} N,rtitirn. or t111l,1111b, 111 I of l�II f!:'(I\IIIIIIUl-1 1 , 1 1 ,,I rtilu,tcd rccordl't linvu '"' li,CCOUll(�\!l(, 1•1nJ•lu_v11,I 1 (.'i), permil1-. hi� 111u11n ,.,. I It with nn 1-.•-dmmt" nl , in u 1mu11wr wl11,·l1 1111• n.ct.:urac:y nl ,..11,·I, ,,,,, 111 (k) c•xprc:--.•m�1 111:• 111•11,1,,1,, , 1110111-N or UII\' l,u:1111.,, .. , hi" i11m1•1t11ni., rn1111h•. 1 unle:-ii,i Im li11wl11:w!, 1•,wt Lhill p1u11j,!',n•ph " 1111111 O\'/ll or ,-;111•1, '"I"""" fir:-;!, COUHI J 1 , 11''1•11,•l\ , 1 1,r 1111,lf-iiii,l,·r; (l} <:!1arg1�� r,,r 111(,t,,, ,,,,,,,.1 fCf;Oivcr:-.ch1p, /,•r,11 wlu,·I ,,1 o.rc ,:1111l-i11v.,11I, ,,., r• (m) 11; a fim�:,,•iid :,1 . .c, ,,,, 1 <h!;t.•ln<;l__• r,,. ,,r l , 1 1 • • •·• "· ,,r f,.rt,.. ltw•WII I • , !, .. , I lo,• l11,n1 :11 ,_,rd,,r I.lull (t1.) fn\'Cl:'I m 1 IIJlllllflll In n I •:1�•nt. n, !',,nunt., .. 1, ti,,.,, (o) f:�·,\i;: In are111111l 1,,, , , , r liii< or !o t"l !1r111',. 111.,,,, Ut1!\,1l,hr,r1,.,.,1 JHII I'" ,, , •
Part
SCHEDULE
- 2 Verify source ↗
Interpretatio
This section lists prohibited conduct for a person acting as an accountant, including improper partnerships, solicitation, undisclosed conflicts, fee-sharing, misleading advertising, and mishandling client money.
2. A rnmnhnr r,f ! ] ,,, l i .1,1 1 1 , 1 if he doe:J n.ny 1lcl, wh1<•h 1 ... h L , I v lustituW in'-�-' c..fo,gn:.i.·,·. , .,,,:, ,t11• (a) allows auy porimn, other thnn a registered o.ccountant, Lo practise in his ntltne; (b) out.er:; into partner.i!hip or a.�ocia,tion with a poraon who � not entitled W1der this Act to sot up practice £U an a.ccountant; ,, Accountanla [No. 28 of 1982 233 (c) procure& or at.tempts to procure any buainess 8..'J o.n accouutant either through the eervlces of o, person not qualified to be registered under thie Act o r by means unbecoming o f a professio nal a.cco untant ; Id) pays or allows, or agrees to pay or allow, dirootly or indirectly, ony share, commisaion or brokerage out of his foes for or profitfl from his professional sen-ices as an acco untant t o any person other thun t o or for a. registered accountant, or an existing or retired partner; (t:) accepts or agroea to accept. directly or indirectly, o.ny share, com mission or brokoragc out of the profossiono.1 fees of any person who is not a registered accountant or partner in a firm of accounto.nte; (j) r .. dvert.ises bimself, bis practice or his services, except to the extent tbnt is necessary to indicate his offices or to give his n.dclress to persons having business or professional dealings with him; (g) solicit.A diroctly or indirectly clients or business a.'! an o.ccowiW.nt b y circulo.rs, advertisement, personal communioation, interview, or o.ny othor means ; (Ii) unlawfully discloses or uaes to his own &dvo.ntago any infommtion which relates to his client or which WM acquired in t,he course of his professional engagement; (i) cortifiea o r submits in his name or in tho name of his firm a report of an examination of financial statements if the statementa and rell'lted records luwe not been rondo by him, bis partner or II regiat.ered accountant cmploYed by his firm ; Li) permits his na.me or tho name of his firm t.o be ui;ed in connection with an ootima.te of earnings contingent upon future t-ra.nsactiona in a manner which may lead people to infer tbo.t he vouches for the accuracy of such oamings; (k) expresses his opinion , in a profossional capa.city, on financial state ments of any business or enterprise in which he, or to his knowledge, his immediate family, his firm or a partner in his firm has a.n interest, unless he disclor.es such interest in his report; and for the purpos!3s of this paragraph " immediate family " i ncludes a spou.se and hie o ,vn or such spouse's child, pa.rent, brother, sister, uncle, aunt, first cousin, nephew, niece, foster or adopted child and half-brother or bnl.f.sister ; (l) charges for professiotul.l work, other tho.n insolvency , bankruptcy or receivership, fees which are ha.sod on a percentage of profit13 or which are contingent on re:.ults ; (rn) in a financial statoUlent.. in which his client ha.s interest, fails to disclose to, or knowingly concoa.ls from, such client mis-statements or fe.cts known to himself and the disclosure of which is necessary in order that the financial statement doe.q not mislead ; (n) givos an opinion in a. professional ca.pa.city without obtaining suffi cient. information therefor, unless that fact is revealed; or {o) faHs to account for, o r bank, the m oney of o. client sepa.rately from his or his firm's money or UJ3ef\ funds belonging to his client for unauthorised purposes. - 2 Verify source ↗
Interpretatio
A member of the Institute is guilty of professional misconduct if they do any act likely to bring accountancy or the Institute into disgrace, contempt, or disrespect.
2. A member of the Institute shn.11 be guilty of professional mi13conduct if he doea any act which is likely to bring the profession of a.ccounto.noy or th� Iostitute into disgrr..co, contempt or disrespect. A.ct a.nd} Uu, '.l. account.n.nt e pmctisinl(, for a. pt1riud Act. the i\.lini�t ... ,r n and eleven, ess than fi vo nate onoi of tairman. bscction (4), purposes '.·,,, section ie11. shall apply, ce with suh �d Cha.irmnn deemed fur ir respect,i vo ,ll hold oflico encement of M elected a s the earlier: ;he period of 1Sc, he rnay, y np tc six >roval of the :owicil. slli>IJ apply, 1 committco us Part. i rni,lc:onduct if, ,nt, to prs,e tiso >n who is not ntanti
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Accountants Act, 1982
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