XN000022-1993-07-21 — Page 25

WEDNESDAY, JULY 21, 1993

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ENTERTAINMENT

OF THEM, 18 WERE SUBMITTED BY THE TELEVISION AND LICENSING AUTHORITY, INCLUDING FIVE BROUGHT TO THE AUTHORITY'S NOTICE FROM PUBLIC COMPLAINTS; FIVE BY THE POLICE; AND 49 BY FILM DISTRIBUTORS.

AND OUT OF THE 72 POSTERS, ONE WAS CLASSIFIED AS OBSCENE (CLASS III) AND 56 AS INDECENT (CLASS II).

MR SO ALSO NOTED THAT THE AVERAGE TIME TAKEN BETWEEN THE LODGING OF A COMPLAINT AND THE FILING OF A PROSECUTION WAS ABOUT SIX WEEKS.

COMPANY LAW GOVERNS QUALIFICATIONS OF AUDITORS

* * *

THE GOVERNMENT IS NOT AWARE OF ANY INSTANCES IN THE PAST TWO YEARS IN WHICH ANY SMALL, LOCAL ACCOUNTING FIRMS HAVE BEEN CONSIDERED UNSUITABLE TO ACT AS AUDITORS FOR LISTED COMPANIES, THE SECRETARY FOR FINANCIAL SERVICES, MR MICHAEL CARTLAND, SAID.

ALSO, THE HONG KONG SOCIETY OF ACCOUNTANTS HAS NOT RECEIVED ANY EXPRESSION OF VIEWS FROM THE SECURITIES AND FUTURES COMMISSION (SFC) THE STOCK EXCHANGE OF HONG KONG LTD (SEHK) CONCERNING ITS MEMBER ACCOUNTANTS, HE SAID.

OR

IT HAS NOT RECEIVED ANY COMPLAINTS FROM ITS MEMBER ACCOUNTANTS FOR HAVING BEEN SO CONSIDERED BY THE SFC OR SEHK, HE ADDED.

IN

IN A WRITTEN REPLY TO A QUESTION BY THE HON CHIM PUI-CHUNG THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY), MR CARTLAND SAID THE ELIGIBILITY OF ACCOUNTANTS TO ACT AS AUDITORS FOR LISTED COMPANIES WAS PROVIDED FOR UNDER THE COMPANIES ORDINANCE AND THE LISTING RULES.

"THERE IS NO FURTHER MECHANISM OF ASSESSING THE

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OF SUCH ACCOUNTANTS, HE ADDED.

QUALIFICATIONS

LISTING

SEHK DOES NOT HAVE ANY ADDITIONAL PROVISIONS UNDER THE RULES IN RESPECT OF THE QUALIFICATIONS OF AUDITORS OF LISTED COMPANIES INCORPORATED IN HONG KONG.

LISTING

MUST THE

HONG KONG, THE ANNUAL ACCOUNTS QUALIFIED UNDER TO THE EXCHANGE

FOR LISTED COMPANIES INCORPORATED OUTSIDE RULES PROVIDE, AMONG OTHER THINGS, THAT THE BE AUDITED BY A PERSON, FIRM OR COMPANY EITHER PROFESSIONAL ACCOUNTANTS ORDINANCE OR ACCEPTABLE HAVING AN INTERNATIONAL NAME AND REPUTATION AND WHICH IS A MEMBER OF A RECOGNISED BODY OF ACCOUNTANTS.

AS

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