Accountants Act 2004 · 2020 Revised Edition · Part 5 · Practice Monitoring Programme
32. Interpretation of this Part
Feedback & supportLast amended by an amending law of 2022.
In this Part —[Deleted by Act 32 of 2022 wef 01/07/2023]“Oversight Committee’s professional standards assessment framework” means the assessment framework of the Oversight Committee to determine the extent of a public accountant’s compliance with the professional standards;“practice monitoring programme” means a programme to determine whether a public accountant has complied with the professional standards when providing public accountancy services;“Practice Monitoring Sub-committee” means the Practice Monitoring Sub‑committee appointed under section 34;“practice review” means a study, an appraisal, or a review carried out under a practice monitoring programme in respect of one or more aspects of the public accountancy services that are provided by a public accountant;[Deleted by Act 32 of 2022 wef 01/07/2023]“practice reviewer” means any individual who is appointed by the Oversight Committee under section 35 to carry out a practice review;“professional standards”, in relation to the provision of public accountancy services, means the standards, methods, procedures and other requirements that are prescribed by the Authority or Oversight Committee to be applied by a public accountant, an accounting corporation, an accounting firm and an accounting LLP when providing public accountancy services.
Oversight Committee
“Oversight Committee” means the Public Accountants Oversight Committee appointed by the Authority under section 4;
“Oversight Committee’s professional standards assessment framework” means the assessment framework of the Oversight Committee to determine the extent of a public accountant’s compliance with the professional standards;
public accountant
“public accountant” means an individual who is registered or deemed to be registered in accordance with this Act as a public accountant;
“practice monitoring programme” means a programme to determine whether a public accountant has complied with the professional standards when providing public accountancy services;
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;
“Practice Monitoring Sub-committee” means the Practice Monitoring Sub‑committee appointed under section 34;
“practice review” means a study, an appraisal, or a review carried out under a practice monitoring programme in respect of one or more aspects of the public accountancy services that are provided by a public accountant;
“practice reviewer” means any individual who is appointed by the Oversight Committee under section 35 to carry out a practice review;
“professional standards”, in relation to the provision of public accountancy services, means the standards, methods, procedures and other requirements that are prescribed by the Authority or Oversight Committee to be applied by a public accountant, an accounting corporation, an accounting firm and an accounting LLP when providing public accountancy services.