ADMINISTRATION OF ACT
3. The Authority shall be responsible —
for the registration of public accountants and the approval of accounting corporationsand accounting firms and the names thereof under this Act;
for the control and regulation of the practice of the profession of accountancy by public accountants, accounting corporationsand accounting firms; and
generally, for the administration of this Act,
and shall carry out such functions subject to the general or special directions of the Minister.
—(1) For the discharge of its functions under section 3, the Authority may, with the approval of the Minister and subject to subsection (2), appoint from among its members a committee to be known as the Public Accountants Oversight Committee.
(2) At least one member of the Oversight Committee shall be a public accountant.
(3) The Oversight Committee shall carry out the functions and duties and exercise the powers conferred on it by this Act in accordance with such general or special directions as the Authority may from time to time give to the Oversight Committee.
(4) The Schedule shall have effect with respect to the Oversight Committee, its members and proceedings.
(5) The Authority may, with the approval of the Minister, amend or vary the Schedule by order in the Gazette.
—(1) The Oversight Committee shall assist the Authority in the discharge of the Authority’s functions under section 3 and, in so doing, shall —
keep and maintain —
a Register of Public Accountants;
a Register of Public Accounting Corporations;
a Register of Public Accounting Firms; and
such other registers as may be necessary for the purposes of this Act;
assist the Authority in determining, prescribing and reviewing the requirements to be satisfied by persons seeking to be registered as public accountants under Part III;
conduct or arrange for the conduct of such examinations as it thinks necessary for the purposes of registering public accountants;
administer the continuing professional education programmes for public accountants;
administer the practice monitoring programmes under Part V;
assist the Authority in determining, prescribing and reviewing —
the codes of professional conduct and ethics for public accountants; and
the standards, methods and procedures to be applied by public accountants when providing public accountancy services;
inquire into —
any complaint against any public accountant, accounting corporationor accounting firm; or
any information relating to any professional misconduct on the part of any public accountant, accounting corporationor accounting firm,
and, if necessary, institute disciplinary proceedings in accordance with Part VI;
advise the Authority on any matter which relates to the profession of public accountancy; and
generally do all such acts, matters and things as are necessary to be carried out, or which the Oversight Committee is authorised to carry out, under this Act.
(2) The registers referred to in subsection (1)(a) may be kept in such form or manner as the Oversight Committee may determine.
(3) Subject to any general or special direction given by the Authority, the Oversight Committee shall have the powers to do anything for the purpose of discharging its functions under this Act, or which is incidental or conducive to the discharge of those functions.
—(1) Subject to any general or special direction of the Authority, the Oversight Committee may appoint one or more sub-committees for any general or special purpose which in the opinion of the Oversight Committee may be better dealt with or managed by a sub-committee.
(2) The Oversight Committee may delegate to any sub-committee appointed under subsection (1), with or without restrictions or conditions as it thinks fit, any of the powers or functions which may be exercised or performed by the Oversight Committee under this Act.
(3) The number and term of office of the members of any sub-committee appointed under this section and the number of those members necessary to form a quorum shall be determined by the Oversight Committee.
(4) A sub-committee appointed under this section may include persons who are not members of the Oversight Committee.
(5) The Oversight Committee may continue to exercise any power conferred upon it or perform any function under this Act notwithstanding the delegation of such power or function to a sub-committee under this section.
(6) For the purposes of the Accounting and Corporate Regulatory Authority Act (Cap. 2A), any member of a sub-committee appointed by the Oversight Committee under or for the purposes of this Act shall be deemed to be a member of a committee of the Authority.
—(1) The Authority shall, from among its officers, appoint —
a Registrar of Public Accountants; and
such number of Deputy Registrars and Assistant Registrars of Public Accountants as the Authority considers necessary.
(2) The Registrar shall —
carry out the functions and duties and exercise the powers conferred on him by this Act in accordance with such general or special directions as the Authority or the Oversight Committee may from time to time give to him;
attend all meetings of the Oversight Committee and record the proceedings thereof;
conduct the correspondence and deal with such matters as may be assigned to him by the Authority or the Oversight Committee;
issue all certificates and notices required to be issued under this Act; and
collect all fees payable under this Act and pay all amounts so collected into the funds of the Authority.
(3) Subject to such restrictions and limitations as the Authority or Oversight Committee may determine, the powers and duties of the Registrar under this Act may be exercised and discharged by a Deputy Registrar or an Assistant Registrar.
—(1) The Registrar shall be responsible for the custody and maintenance of —
the Register of Public Accountants;
the Register of Public Accounting Corporations; and
the Register of Public Accounting Firms.
(2) The Registrar shall —
in the Register of Public Accountants the name and relevant particulars of every public accountant who is registered under this Act or whose registration has been suspended or cancelled;
in the Register of Public Accounting Corporations the name and relevant particulars of every accounting corporation that is approved under this Act or that has had its approval revoked; and
in the Register of Public Accounting Firms the name and relevant particulars of every accounting firm that is approved under this Act or that has had its approval revoked;
allow any person to inspect the Register of Public Accountants, the Register of Public Accounting Corporations or the Register of Public Accounting Firms in such manner and on such terms as the Oversight Committee may determine;
insert in the appropriate register any change in the names or relevant particulars recorded therein that may have been notified to him or that may otherwise have come to his knowledge; and
correct any error in any entry in any of the registers.
9. Where any question arises as to whether or not —
a person is or was a public accountant registered under this Act;
a company is or was an accounting corporation approved under this Act;
a firm is or was an accounting firm approved under this Act; or
an entry in any register kept under this Act is accurate or correct,
a certificate issued by the Registrar addressing such question shall be admissible as evidence in any proceedings and shall be prima facie evidence of the facts stated therein.