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WEDNESDAY, OCTOBER 23, 1991
BILL TO STRENGTHEN MONITORING OF PROFESSIONAL
ACCOUNTANT STANDARDS INTRODUCED
(AMENDMENT) ACCOUNTANTS THE PROFESSIONAL
BILL 1991 SEEKS
ΤΟ THE PROFESSIONAL ACCOUNTANT KAI-YIN, SAID
TO MAKE A NUMBER OF AMENDMENTS ORDINANCE, THE SECRETARY FOR THE TREASURY, MR YEUNG TODAY (WEDNESDAY).
IN THE LEGISLATIVE
MOVING THE SBCOND READING OF THE BILL COUNCIL, MR YEUNG SAID THE AMENDMENTS, WHICH WERE PROPOSED BY THE HONG KONG SOCIETY OF ACCOUNTANTS, WERE DESIGNED TO STRENGTHEN THE SOCIETY'S
OF ITS STANDARDS THE PROFESSIONAL ABILITY MEMBERS.
סיו
MONITOR
PRACTISING
"AT PRESENT, THE SOCIETY REGULATES THE
HE SAID. MEMBERS THROUGH A REACTIVE SYSTEM,
ACTIVITIES OF
ITS
A PROFESSIONAL
"UNDER THIS SYSTEM THE WORK AND CONDUCT OF ACCOUNTANT CAN ONLY BE EXAMINED AFTER A FORMÁL COMPLAINT."
YOUNG
NOW
GIVEN RISING PUBLIC THAT POINTED OUT MR HOWEVER,
THE SOCIETY STANDARDS, PROFESSIONAL EXPECTATIONS CONCERNING BELIEVED THAT IT WAS DESIRABLE TO ENHANCE ITS REGULATORY ACTIVITIES.
ADDITIONAL
HE NOTED THAT THE BILL PROVIDED THE SOCIETY WITH
METHODS AND POWERS THAT WOULD ENABLE IT TO REVIEW, OR EXAMINE, THE
AUDIT WORK TO OF PRACTISING PROCEDURES
MEMBERS RELATING TO THEIR
THAT DETERMINE WHETHER THEY COMPLIED WITH THE PROFESSIONAL STANDARDS HAD BEEN LAID DOWN BY THE SOCIETY.
THE BILL ALSO EMPOWERED THE SOCIETY TO INSTIGATE DISCIPLINARY PROCEEDINGS AGAINST ANY MEMBER WHO REFUSED TO COMPLY WITH REQUIREMENTS OF A REVIEW, OR WHO WAS FOUND TO BE IN BREACH OF THE STANDARDS OF THE SOCIETY.
PROFESSIONAL
MR YEUNG SAID THE GOVERNMENT STRONGLY SUPPORTED THE AMENDMENTS CONTAINED IN THE BILL, AS THEY REPRESENTED A POSITIVE STEP TOWARDS ENSURING THAT HIGH PROFESSIONAL ACCOUNTANCY WERE MAINTAINED IN THE PUBLIC INTEREST.
PROPOSED FURTHER
STANDARDS IN
"TO ENSURE THAT THE INTERESTS OF. MEMBERS OF THE SOCIETY THEIR CLIENTS ARE PROTECTED, THE BILL ALSO MAKES SPECIFIC
HE SAID. CONCERNING IMMUNITY AND SECRECY,
"
AND
PROVISIONS
DEBATE ON THE BILL, WHICH WAS GAZETTED ON OCTOBER
11, WAS
AJ JOURNED.
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