28. Professional indemnity insurance

Terms defined in s 2

• accounting corporation

  accounting corporation

  Defined · s 2

  “accounting corporation” means a company approved as an accounting corporation under section 19;

  Open s 2
• Board

  Board

  Defined · s 2

  “Board” means the Public Accountants Board established under section 3;

  Open s 2
• corporate practitioner

  corporate practitioner

  Defined · s 2

  “corporate practitioner”, in relation to an accounting corporation, means a director or an employee of the corporation who is a public accountant and practising as such in that corporation;

  Open s 2
• professional indemnity insurance

  professional indemnity insurance

  Defined · s 2

  “professional indemnity insurance” includes insurance indemnifying a public accountant or an accounting firm or accounting corporation against liability to compensate a third party who has sustained financial loss or any other damage or injury due to breach of professional duty or to professional negligence of such accountant, firm or corporation, as the case may be (including such negligence by any director of the corporation), or fraud or dishonesty;

  Open s 2