Professional Accountants Ordinance

(1)
The Council shall maintain proper accounts of all transactions of the Institute and shall prepare for every financial year a statement of the accounts of the Institute, containing an income and expenditure account and a balance sheet, both of which shall be signed by the President.
(2)
The Institute in general meeting shall appoint an auditor who shall be entitled at any time to have access to all books of account, vouchers and other financial records of the Institute and to require such information and explanations thereon as he thinks fit.
(3)
The auditor shall audit the statements drawn up under subsection (1) as soon as possible and shall make a report thereon to all the certified public accountants.
(Amended
96 of 1994 s. 8
)
(4)
A copy of the signed and audited statement of accounts, together with the auditor’s report made under subsection (3), shall be submitted for approval at the annual general meeting of the Institute next following the end of the financial year to which they relate.
(Replaced
23 of 2004 s. 14
)
(4A)
A summary of financial statements shall be sent to each certified public accountant with the notice of the annual general meeting.
(Added
23 of 2004 s. 14
)
(4B)
A certified public accountant may inspect a copy of the signed and audited statement of accounts at all reasonable times at the office of the Institute and the Institute shall provide to a certified public accountant on application a copy of the signed and audited statement of accounts without charge.
(Added
23 of 2004 s. 14
)
(5)
The auditor shall be entitled to attend the annual general meeting of the Institute at which the statement of accounts which have been reported on by him are to be submitted for approval and to make any statement or explanation he desires with respect to the accounts.
(6)
The Council shall determine the period, which may be more or less than 12 months, in respect of which the accounts of the Institute shall be made up.
(7)
In this section,
financial
                year
(
財政年度
) means the period determined by the
                Council under subsection (6) as the period in respect of which the accounts of the
                Institute shall be made up; and
summary of financial
                statements
(
財務報表撮要
) means a summary, approved by the
                Council, of the audited statement of accounts of the Institute required to be laid
                before the annual general meeting of the Institute.
(Amended
23 of 2004 s. 14
)