SHAREBROKERACCOUNTANTS

Press, Volume C, Issue 29467, 20 March 1961, Page 12

SHAREBROKERACCOUNTANTS

Ban Proposed By Society Members of the New Zealand Society of Accountants will be prevented from acting as sharebrokers if a proposed amendment to the society’s rules is approved at the society’s annual meeting on Wednesday. The proposed amendment also will prevent members from carrying on business as agents for the Totalisator Agency Board, or as land and estate agents. It will not apply to members already carrying on these activities. Notice of the amendment is given in the society’s annual report. A note to the report says: “After careful deliberation, council has reached the conclusion that professional work in some fields is incompatible with the practice of accountancy which has now reached full professional status in its own right. “In certain circumstances, conflict of interest may well arise. This amendment to the rules looks to the future and Conforms with best overseas practice. “It will, in the opinion of council, enhance the professional standing of our members in public practice and remove a possible source of Criticism and doubt.” The note says that a rule of this nature has been in force in leading societies of accountants in the United Kingdom. Australia and Canada for some years.