COMPANY, AUDITING

Evening Post, Volume CXVI, Issue 107, 2 November 1933, Page 10

COMPANY, AUDITING

- (To the Editor.) Sir, —I would like to add my protest against tho clause in the Companies Act now before Parliament which prevents any person other than" a member of an existing Accountants' Association undertaking auditing work. The claufee is oppressive and unjustifiable, especially to registered accountants. The secretary of the association is taking great pains to justify the action. , Representatives of his association were on the Committee set up to amend the Act. It is totally'unnecessary for an auditor to pass an' examination, which «is only theoretical and practically' a memory test and not one of knowledge or calling for actual experience. There are accountants in New Zealand who as regards practical knowledge and,.experience would equal ?these. professional .gentlemen with many, letters after their names, The- auditor today can■ be,described as a;'glorified checker, and his ,work is uo\ worth the high. fees fie charges. The old . auditor was generally a -man who' had' extensive experience in business. . '.: The fetish 'in\New Zealand, today is that'an examination must bc',T>?«ed, the result' being that the theoretical, man has an advantage 'over a -practica) man,: and ,1 assert this is not leading to efficiency.' If a man has held, an important position as an accountant or secretary he should be entitled' 'to practise as an accountant or auditor. Many people are about, tired of, all this , restrictive legislation, and' it may be that the ,tlay is not far'distant when there •will be a! clean-up and. a good deal'of this legislation deleted. A good many of the, unemployed are beginning to realise* that our so-called ,'democratic legislation. State control and constant interference may be good for a/few, but is.narrowing activities and not in their interest, aml_ that open competition woiild b.e beneficial to, th'o«e unemployed and to those barred from carrying on an occupation' by interested people, city councils and Government Departments. I hold that the time has arrived for action to bring about a return to 1913 conditions, and this can only be done by delctins half the Acts on our Statute Books. If this clause is not withdrawn I suggest that 'accountants in the city who have not passed an examination . should. convene a meeting to d!6cuns the 'position.—l am, etc.. 1913.