in the Ordinance may apply for incorporation; and the Governor may, if he considers such incorporation expedient, grant a certificate of incorporation, whereupon the trustees and their successors in office become a body corporate with perpetual succession. During the year three certificates of incorporation were granted, making a total of twenty-two certificates so far granted. The objects of the twenty-two bodies whose trustees have been incorporated are:
Educational
Religious
Social Welfare
Others
:
2
7
10
3
22
Authorized Auditors Board
92. The Authorized Auditors Board constituted under Section 132 of the Companies Ordinance is composed of ten members, namely, the Registrar of Companies (Chairman), the Accountant General and the Commissioner of Inland Revenue as ex officio members, a Legal Adviser, and six other members appointed by the Governor, of whom five are practising accountants.
93. The Board inquires into the professional qualifications, experi- ence, competency and character of all applicants for admission to the Authorized List of Auditors kept by the Registrar of Companies under Section 131(3)(a). This List is in two Parts, Part I containing the names of persons authorized to audit accounts kept in English, Part II the names of those authorized to audit accounts kept in Chinese. The Board may also sit as a disciplinary tribunal, having power to issue a reprimand or order the removal of the name of an auditor from the List.
94. During the year the Board inquired into and approved the applications of twenty-one auditors and six auditing firms for admission to Part I, and of nine auditors and seven auditing firms for admission to Part II of the Authorized List. At the end of the year there were 189 individuals and 64 firms on Part I of the List and 153 individuals and 54 firms on Part II. Of these, 119 individuals and 50 firms were on both Parts. Out of the 189 accountants on Part I of the List 133 were Chinese.
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