Clause 4

by deleting paragraph (g) and substituting the following paragraphs:“(g)assist the Authority to determine, prescribe, issue, adopt and review —

the requirements to be applied by public accountants, accounting corporations, accounting firms and accounting LLPs in relation to —

the detection and prevention of money laundering or the financing of terrorism; and

the recording and reporting of transactions suspected of involving money laundering or the financing of terrorism,including any requirement necessary or expedient to give effect to any recommendation issued or adopted by the intergovernmental body known as the Financial Action Task Force relating to the prevention of money laundering and the financing of terrorism;

the requirements in respect of professional conduct and ethics applicable to public accountants, accounting corporations, accounting firms and accounting LLPs when providing public accountancy services, other than the matters assigned to the Oversight Committee by the Authority and set out in the code of professional conduct and ethics prescribed by order under section 64AA(1)(a); and

the standards, methods, procedures and other requirements to be applied by public accountants, accounting corporations, accounting firms and accounting LLPs when providing public accountancy services, other than any standard, method, procedure or requirement which is of a class or description specified in the Second Schedule;

accounting corporations, accounting firms and accounting LLPs with the quality control standards as defined in section 38B; and

public accountants, accounting corporations, accounting firms and accounting LLPs with the requirements relating to the detection and prevention of money laundering and the financing of terrorism,in accordance with Part 5A;”; and

by deleting the word “and” at the end of paragraph (i), and by inserting immediately thereafter the following paragraphs:“(ia)prescribe the code of professional conduct and ethics applicable to public accountants, accounting corporations, accounting firms and accounting LLPs;