Registrar-Generals-Department-Annual-report-1955-1956 — Page 22

Authorized Auditors Board

35. The Authorized Auditors Board is a statutory Board established by Section 131A of the Companies Ordinance to inquire into the fitness of persons desiring to be entered in the Authorized List of Auditors kept by the Registrar under Section 131 and in which are entered the names of persons authorized to perform the duties required by the Companies Ordinance to be performed by an auditor. The Board also has powers to inquire into cases where an auditor on the authorized list has been guilty of professional misconduct, and after inquiry may order his name to be erased from the list, or order that he be reprimanded. The Board now consists of ten members comprising as ex officio members the Registrar of Companies, who is the Chairman, the Accountant General, and the Commis- sioner of Inland Revenue, who was included in the Board for the first time by the Companies (Amendment) Ordinance, 1955, a Legal Adviser and, six other members appointed by the Governor, of whom one is the Secretary for Chinese Affairs, and the remaining five are authorized auditors. The Companies (Amendment) Ordinance, 1955, added a Sub-section empowering the Board to appoint a secretary.

36. The Authorized List is kept in two Parts, Part I con- taining the names of persons authorized to audit accounts kept in English, Part II the names of persons authorized to audit accounts kept in Chinese. An auditor may be included in both Parts of the List. The names of the auditors then on the Authorized List were published in G.N. 1454 of 30th December, 1955.

37. During 1955/56 the Authorized Auditors Board approved the applications of 9 auditors and 5 auditing firms for admission to Part I, and 1 auditor and 5 auditing firms for admission to to Part II, of the Authorized List of Auditors.

38. Two Appeals were made to the Supreme Court against decisions of the Board refusing to admit the Appellants to Part I of the Authorized List, and these were still pending at the end of the year.

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