Accountants Act 2004 · 2020 Revised Edition · Part 4 · Accounting Corporations, Accounting Firms and Accounting Llps
29. Management of accounting corporation
Feedback & supportOnly members of an accounting corporation may be appointed as directors of the accounting corporation.
accounting corporation
“accounting corporation” means a company approved as an accounting corporation under section 17;
The business of an accounting corporation, so far as it relates to the provision of public accountancy services, must be under the control and management of one or more directors who are public accountants.
public accountancy services
“public accountancy services” means the audit and reporting on financial statements and the doing of any other acts that are required by any written law to be done by a public accountant;
Where, for any reason, the office of director required to be held by a public accountant under section 17(3)(c)(i) is vacated, the accounting corporation must, as soon as practicable but no later than one month after the date of vacation of office, appoint another public accountant to fill the vacancy.
public accountant
“public accountant” means an individual who is registered or deemed to be registered in accordance with this Act as a public accountant;
The directors of an accounting corporation must ensure that every invoice or official correspondence of the accounting corporation bears the statement that it is incorporated with limited liability.