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WEDNESDAY, MARCH 21, 1990
TO AUDITORS MEETING,"
THEREFORE "THE SOCIETY HAS
SUGGESTED TO THE ADMINISTRATION THAT, AS IN THE UK, STATUTORY PROTECTION SHOULD BE GIVEN TO COVER INFORMATION THAT THEY MIGHT DISCLOSE AT SUCH A SAID.
HR
THE BILL THAT
BE REPEALED,
MR NENDICK SAID IT WAS PROPOSED IN CLAUSE 5 OF THE EXISTING LEGISLATION CONCERNING TRIPARTITE MEETINGS AND REPLACED BY A MORE GENERAL PROVISION EMPOWERING DISCLOSE INFORMATION TO THE COMMISSIONER IN GOOD FAITH.
THE SOCIETY'S GUIDELINES WOULD THEN WHERE MEETINGS BETWEEN THE AUDITORS AND HELD.
THE
PROCEEDINGS AGAINST
AUDITORS
TO
GOVERN THE CIRCUMSTANCES
COMMISSIONER SHOULD
BE
HE AUDITORS,
SAID THE PROCEEDINGS
ON DISCIPLINARY PRESENT PROVISIONS CONCERNING COMPLAINTS AND DISCIPLINARY AGAINST AUDITORS WERE UNDULY RESTRICTIVE.
MAKE
UNDER SECTION 62 OF THE ORDINANCE, THE COMMISSIONER COULD A COMPLAINT IN RESPECT OF ANY AUDITORS OF AN AUTHORISED INSTITUTION.
THIS
EXCLUDED IMPLICITLY
AUDITORS OF
FORMER INSTITUTIONS AND FORMER AUDITORS OF AUTHORISED INSTITUTIONS.
FURTHERMORE, ALTHOUGH
AUTHORISED
THE COMMISSIONER WAS PERMITTED DISCLOSE INFORMATION TO THE DISCIPLINARY COMMITTEE OF SOCIETY OF ACCOUNTANTS IN RESPECT OF ALLOWED TO DISCLOSE SUCH INFORMATION TO THE
OR TO GIVE EVIDENCE AT THE HEARING.
то
THE HONG KONG SUCH COMPLAINTS, HE WAS NOT AUDITOR UNDER COMPLAINT
中甲
THESE
RESTRICTIONS MAKE
DISCIPLINARY ACTION TO BE TAKEN AGAINST AUDITORS OR CLAUSE 9 INTRODUCES CHANGES TO RECTIFY THESE DEFICIENCIES 6 REPEALS
SECTION 62 WHICH
CONSEQUENCE, HE SAID.
IT
DIFFICULT
IS CONSIDERED UNNECESSARY
FOR EFFECTIVE FORMER AUDITORS.
AND CLAUSE A AS
THE BILL ALSO REMOVE SOME
DEFENCE
FOR
SUMMARY
UNINCORPORATED
REFERRING TO OTHER AMENDMENTS, MR NENDICK SAID
MISCELLANY
OF
AMENDMENTS TO MINOR PROPOSED A
4 CLAUSE ANOMALIES.
RELATED TO NOTIFICATIONS UNCERTAINTIES AND
WIDENED THE SCOPE OF THE CLAUSE 10 CONCERNING AUDITORS.
THE
TIME LIMIT CLAUSE 11 EXTENDED PROVISIONS.
REPEALED REFERENCES TO PROSECUTIONS. OTHER CLAUSES BANKS AS THIS CATEGORY NO LONGER EXISTED.
MR NENDICK SAID THE SOCIETY OF THE PROPOSALS RELATING TO MEETINGS WITH FULL SUPPORT.
CONSULTED ON
AND HAD EXPRESSED
WAS ACCOUNTANTS
AUDITORS
ADVISORY COMPANIES
THE
THE BANKING AND DEPOSIT-TAKING WERE CONSULTED AND HAD EXPRESSED SUPPORT TO OF THE BILL.
COMMITTEES PRINCIPAL PROPOSALS
DEBATE ON THE BILL WAS ADJOURNED.
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