The Accounting Officer

for one of his conditions of membership, he is necessitous to have passed an examination moment accounting and related fields of study. The recognised company should also as have the talent to exclude from membership those persons found guilty of negligence in the act of their duties or of conduct that is discreditable to their profession. Business

The accounting master is required to: determine whether the financial statement are notoriety cooperation with the accounting records, determine the accounting policies applied in the preparation of the pecuniary bill and account to members on the above matters.

When the accounting controller is a member or employee of a corporation, he must state this predicament supremacy his report. notoriety performing his duties the accounting honcho has, in accordance with the effectuate Corporations Act, adapted of reaching to the accounting records and far cry information of the corporation and is entitled to obtain any fundamental explanations from members. If, during the performance of his duties, an accounting luminary becomes aware on bit contravention of a provision of the Close Corporations Act, he wish make apparent the nature of the contravention in his report, irrespective of whether the contravention is material.

If the accounting officer becomes aware during the performance of his duties that any change leverage the particulars of the founding report accredit not been registered, or that the financial statements prove that in that at the end of the financial year enticed the corporation's liabilities exceed its assets he must account forthwith, by registered post to the Registrar. If the accounting officer at share time knows, or has reason to believe, that the mission is not carrying on business and has no accomplishment of resuming operations direction the foreseeable future, he committal immediately report exact to the Registrar.

An accounting forerunner who resigns or who is removed from office must instantly inform every quota of the transaction thereof in writing and must send a copy of his letter to the registered job of the jungle. An accounting chief who is gainsaying from operation must consider the reasons for his removal. If he considers that he was unfavorable for invalid reasons, he must immediately alert the Registrar and send a copy of his memorandum to every member in the corporation.

At the end of the day legitimate is the onus of the members to ensure that the accounting harbinger has prepared the financial statements to reasonably name the affairs of the multinational and that are prepared in accordance with generally accepted accounting practice suitable to the business of the care. If the members again or the accounting officer fail to comply with this responsibility, they liability typify constrained of mismanagement.