N.Z. ACCOUNTANTS AND AUDITORS' ASSOCIATION.

Auckland Star, Volume XLI, Issue 162, 11 July 1910, Page 6

N.Z. ACCOUNTANTS AND AUDITORS' ASSOCIATION.

(To the Editor.) Sir, —I noticed a few days ago that a deputation from the Accountants' Conference to the Premier urged the necessity of amending the Companies Act, especi- , ally in the direction of providing for the . I audit of companies (other than private) |by public accountants. I would like to . say a word in reference to this matter. In the first place, this Accountants' Association ha. not established itself on a proper basis to entitle itself to an amendment. I consider the whole Association wants reorganising. They have admitted bookkeepers as accountants and auditors indiscriminately, and have refused to register accountants who have had years of practical experience, and who are capable, for what reason they give none. The last two cases before his Honor Mr. Justice Chapman further directed attention ' to the fact that during the time serious i defalcations were taking place, there must have been an audit of the Companies' books, and if books could pass , audit in the state in which they must have been, and crime allowed to go un- . detected, he could not see the value of auditing. I would suggest that the Association should be reorganised and . placed on a proper basis, viz., that the N.Z. Accountants' Association shall guarantee its members—abeountants from £1000 to £2500; auditors from £2000 to £5000 —the amount to be paid to the merchant or company through any fault of its members not doing their work efficiently; that an accountant shall not be eligible for the position of an auditor unless he has had \ ten years' practical experience In . accountancy work, and shall be over the age of 35 years; that all members be struck off the roll who are implicated in defalcations through their negligence or inefficiency; that the Association arrange its fees for auditing. 1 trust that members of Parliament will consider very carefully before giving such power into the hands of an Association that takes no liabilities whatever, and allows such members to remain in the society.—l am, etc., RICHARD J. CARBINES, Accountant and.Auditor. Shorwood-road, Mount Eden.