CHARTERED ACCOUNTANTS ACT, 1963
(ACT 170)
ARRANGEMENT OF SECTIONS
Section
PART I—THE INSTITUTE
Establishment and Membership
1. Establishment of Institute.
2. Incorporation of Institute.
3. Meetings of Institute.
4. Membership of Institute.
5. Fees for membership.
6. Style of members.
Council of the Institute
7. Constitution of Council.
8. Term of office of members of
the Council.
9. Functions of Council.
10. Officers of the Council.
11. Financial provisions.
12. Meetings of the Council.
PART II—PRACTISING ACCOUNTANTS
13. Practising Accountants.
PART III—QUALIFICATIONS AND
RESTRICTIONS
Enrolment and Registration
14. General disqualifications.
15. Striking off and cancellation
of registration.
16. Inquiries by disciplinary
committees.
17. Suspension.
18. Appeals to the High Court.
19. Meaning of "professional
misconduct".
Restrictions
20. Restriction on practising as
accountant.
21. Restrictions as to use of
titles conferred under this Act.
PART IV—MISCELLANEOUS PROVISIONS
22. Offences and penalties.
23. Meaning of "practice".
24. Regulations.
25. Amendment of Schedules.
26. Transitional Provisions.
27. Interpretation.
SCHEDULES
First Schedule—Meetings of the
Institute
Second Schedule
Third Schedule
Fourth Schedule
THE HUNDRED AND SEVENTIETH
ACT OF THE PARLIAMENT OF THE
REPUBLIC OF GHANA
ENTITLED
THE CHARTERED ACCOUNTANTS ACT,
1963
AN ACT to establish an Institute
of Chartered Accountants and to
make provision for the conduct of
examinations by the Institute and
other matters connected with the
accountancy profession.
DATE OF ASSENT: 19th April, 1963
BE IT ENACTED by the President and
the National Assembly in this
present Parliament assembled as
follows:—
PART I—THE INSTITUTE
Establishment and Membership
Section 1—Establishment of
Institute.
There shall be established an
Institute to be known as the
Institute of Chartered Accountants
(Ghana).
Section 2—Incorporation of
Institute.
(1) The Institute shall be a body
corporate having perpetual
succession and may sue and be sued
in its corporate name.
(2) The Institute shall have a
common seal and may hold, acquire
and dispose of any property,
movable or immovable.
(3) The common seal of the
Institute shall be kept in such
custody as the Council may from
time to time determine, and shall
not be affixed to any document or
instrument except by order of the
Council, and in the presence of
two members of the Council who
shall sign any such document or
instrument independently of the
signature of any person who may
have signed the document or
instrument as a witness.
Section 3—Meetings of Institute.
First Sch.
Meetings of members of the
Institute shall be held in
accordance with the provisions of
the First Schedule to this Act.
Section 4—Membership of Institute.
(1) Subject to the provisions of
section 14 of this Act,
(a) a person who passes the
qualifying examinations for
membership of the Institute to be
conducted by the Council under
this Act, and completes practical
training of such description and
for such period as may be
prescribed by the Council;
(b) a person who is a member of
any society or institute of
accountants by whatever name
called and approved by Regulations
made by the Council as being in
the opinion of the Council an
association of equivalent status
to the Institute,
shall be eligible for membership
of the Institute:
Provided that a person admitted to
membership of the Institute under
paragraph (b) of this subsection
shall not be entitled to use the
title referred to in section 6 of
this Act unless he has passed the
qualifying examinations for
membership of the Institute; but
any such person may use any title
to which he is entitled by virtue
of any qualification he possesses.
(2) Notwithstanding the approval
of any society or institute
mentioned in paragraph (b) of the
preceding subsection, the Council
may declare that any specified
class or description of members of
any such society or institute
shall not be eligible for
membership of the Institute.
(3) Regulations made by the
Council prescribing practical
training for the purposes of
paragraph (a) of subsection (1) of
this section, may contain such
special provision as the Council
may deem expedient declaring that
a person,
(a) who had commenced, prior to
the commencement of this Act, and
completed or completes, whether
prior to or after that date,
training of such description and
duration as may be specified in
the Regulations; or
(b) who has service in a post and
who completes training of such
description and duration as may be
specified in the Regulations,
shall be deemed to have completed
the training prescribed for the
purposes of the said paragraph
(a).
(4) Regulations made by the
Council by which any society or
institute is approved for the
purposes of paragraph (b) of
subsection (1) of this section
may provide, as a condition of
such approval, that a member of
any such society or institute
shall not be eligible for
membership of the Institute unless
he has undergone such training or
has acquired such practical
experience in the subject of
accountancy, as may be specified
or described in the Regulations.
Section 5—Fees for Membership.
(1) Subject to the provisions of
section 14 of this Act, a person
who is eligible for membership of
the Institute shall be enrolled as
a member upon the payment to the
Council of an entrance fee and an
annual subscription the amounts of
which shall be prescribed by the
Council from time to time.
(2) Fees shall be paid to the
secretary of the Council.
(3) All annual subscriptions
payable under this section shall
be due and payable on the first
day of January in each year or, in
the case of members admitted after
that date, on the date of
admission.
Section 6—Style of Members.
Save as otherwise provided in
subsection (1) of section 4 of
this Act, every member of the
Institute not being a practising
accountant shall be entitled to
take and use the title "Chartered
Accountant" and shall have the
right to use the expression "C.A."
after his name to indicate that he
is such a member.
Council of the Institute
Section 7—Constitution of Council
(1) The governing body of the
Institute shall be the Council
which shall consist of eleven
members all of whom shall be
members of the Institute.
(2) Four members of the Council
shall be appointed by the Minister
and seven members, of whom not
more than four shall be
accountants in active practice,
shall be elected by members of the
Institute at a general meeting.
(3) The Council shall from among
its members elect a President and
a Vice-President.
Second Sch.
(4) The Council shall not perform
any function imposed or conferred
upon it by this Act unless the
President of the Republic has, by
Instrument in the form set out in
the Second Schedule to this Act,
appointed the day on which the
Council shall commence to perform
its functions.
Section 8—Term of Office of
Members of the Council.
(1) Every member of the Council
shall, unless he earlier vacates
his office, hold office for a
period of two years from the date
of his appointment or election.
(2) A member of the Council shall
vacate office by writing under his
hand addressed to the Minister or,
as the case may be, to the
President of the Institute or if
he ceases to be a member of the
Institute.
(3) In the event of the death of,
or vacation of office by, a member
of the Council,
(a) where such member was
appointed by the Minister, the
Minister shall appoint another
person; and
(b) where such member was elected,
the Council shall co-opt another
person till the holding of the
next annual general meeting.
(4) Any member of the Council who
vacates office by effluxion of
time shall be eligible for
re-appointment or re-election as a
member.
Section 9—Functions of Council.
(1) The Council shall be charged
with the administration and
management of the Institute and
shall be responsible for carrying
out the provisions of this Act and
the functions conferred upon the
Council by this Act.
(2) It shall be the duty of the
Council,
(a) to conduct or provide for the
conduct of the qualifying
examinations for membership of the
Institute or for registration as a
registered accountant under this
Act and to prescribe or approve
courses of study for such
examinations;
(b) to supervise and regulate the
engagement, training and transfer
of articled clerks;
(c) to specify the class of
persons who shall have the right
to train articled clerks and to
specify the circumstances in which
any person of that class may be
deprived of that right;
(d) to maintain and publish a
register of chartered accountants
and of practising accountants;
(e) to secure the maintenance of
professional standards among
persons who are members of the
Institute and to take such steps
as may be necessary to acquaint
such persons with the methods and
practices necessary to maintain
such standards;
(f) to maintain a library of books
and periodicals relating to
accountancy and to encourage the
publication of such books; and
(g) to encourage research in the
subject of accountancy and
generally to secure the well being
and advancement of the profession
of accountants.
Section 10—Officers of the
Council.
The Council may appoint a
secretary and such other officers
and employees as it may deem
necessary.
Section 11—Financial Provisions.
(1) The Council shall establish
and maintain a fund under its
management and control into which
shall be paid all moneys received
by the Council by way of
grants-in-aid from the Government
or otherwise and out of which
shall be met all expenses and
liabilities incurred by the
Council in carrying out its
functions under this Act.
(2) The Council may invest moneys
in the fund in any securities of
the Government or in any other
securities approved by the
Council.
(3) The Council may from time to
time borrow money for the purposes
of the Institute and may pay
interest thereon out of the funds
of the Institute.
(4) The annual accounts of the
Council shall be subject to audit
by a member of the Institute, not
being a member of the Council, in
practice as a chartered accountant
who shall be appointed for the
purpose each year by the members
at the annual general meeting.
(5) The accounts for the preceding
year as audited shall be approved
by the members at the annual
general meeting.
Section 12—Meetings of the
Council.
(1) The Council shall meet at
least once in each month, at such
time and place as it may
determine.
(2) A meeting of the Council may
at any time be called by the
President or Vice-President, or at
the request in writing, addressed
to the secretary, of five members
of the Council.
(3) Notice in writing of a meeting
of the Council shall be delivered
or sent to each member of the
Council at least seven clear days
before such meeting, excluding the
day on which the notice is
delivered or sent and the day on
which the meeting is to be held.
(4) The notice shall contain, as
far as is practicable, a statement
of the business to be transacted
at the meeting and the same shall
be deemed to have been duly
delivered or sent unless the
contrary is shown; and
accordingly, subject to the
provisions of this section the
non-receipt of any notice by any
member shall not affect the
validity of the proceedings of any
such meeting:
Provided that whenever the
President or Vice-President
certifies in writing that an
emergency exists, the notice
calling for the emergency meeting
may be delivered or sent only one
clear day before such meeting,
excluding the day on which the
notice is delivered or sent and
the day on which the meeting is to
be held; and in any such case the
non-existence in fact of the
supposed emergency shall not
affect the validity of the
proceedings of the meeting.
(5) The President, or in his
absence the Vice-President, shall
preside at all meetings of the
Council and in the absence of both
the President and the
Vice-President the members present
at the meeting shall elect one of
their number to preside.
(6) Subject to the provisions of
this Act, the person presiding at
any meeting of the Council may,
with the consent of the meeting,
adjourn the meeting from time to
time and from place to place; but
no business shall be transacted at
any adjourned meeting other than
the business left unfinished at
the meeting from which the
adjournment took place.
(7) No notice need be given of any
adjourned meeting unless it be so
directed in the resolution for the
adjournment.
(8) Five members of the Council
shall form a quorum at any meeting
of the Council.
(9) Proper minutes shall be
recorded of all resolutions and
proceedings of meetings of the
Council and of any committees
thereof; and every minute signed
by the person presiding at the
meeting to which it relates, or at
a subsequent meeting, shall be
sufficient evidence of the facts
therein stated.
PART II—PRACTISING ACCOUNTANTS
Section 13—Practising Accountants.
(1) Subject to the provisions of
section 16 of this Act, any
person, not being a chartered
accountant, who holds any of the
qualifications prescribed by the
Council for the purposes of this
section shall be eligible to be
registered as an accountant.
(2) A person who is eligible to be
registered as an accountant under
this section shall be so
registered upon payment of the
prescribed fees.
(3) Every person who is registered
under this section as an
accountant shall be known as a
practising accountant and shall be
entitled to use the expression
"P.A." after his name to indicate
that he is registered as such.
PART III—QUALIFICATIONS AND
RESTRICTIONS
Enrolment and Registration
Section 14—General
Disqualifications.
No person shall be enrolled as a
member of the Institute as a
chartered accountant or be
registered under section 13 of
this Act as a practising
accountant,
(a) unless he has,
(i)
attained the age of twenty-one
years,
(ii) paid the prescribed fees;
(b) if he has been,
(i)
adjudged by a court of competent
jurisdiction to be of unsound
mind;
(ii) convicted by a court of
competent jurisdiction whether in
Ghana or elsewhere of any offence
involving fraud or dishonesty;
(c) if, having been adjudged an
insolvent or bankrupt, he has not
been granted by a court of
competent jurisdiction a
certificate to the effect that his
insolvency or bankruptcy has
arisen wholly or partly from
unavoidable losses or misfortunes;
Section 15—Striking off and
Cancellation of Registration.
(1) Subject to the provisions of
the next succeeding section, the
Council may strike off the
register of the Institute the name
of a chartered accountant, or
cancel the registration of a
practising accountant, if
satisfied that he is unfit to
practise the profession of an
accountant by reason that he has
been guilty of professional
misconduct or has become subject
to any disqualification mentioned
in paragraphs (b) and (c) of
section 14 of this Act.
(2) The Council may strike off the
register of the Institute the name
of a chartered accountant or
cancel the registration of a
practising accountant, if the
prescribed fees remain unpaid for
a period exceeding four months.
(3) A person whose name has been
struck off the register of the
Institute or whose registration
has been cancelled under
subsection (1) of this section may
have his name or registration
restored if the Council is
satisfied that he has become
subsequently a fit and proper
person to practise the profession
of an accountant.
Section 16—Inquiries by
Disciplinary Committees.
(1) The name of any person shall
not be struck off the register of
the Institute nor shall a
registration be cancelled unless a
disciplinary committee has, after
due inquiry, made a report to the
Council that the person concerned
has been guilty of professional
misconduct.
(2) Where the Council has
reasonable cause to believe,
whether upon complaint made to it
or otherwise, that any person who
is a chartered accountant or a
practising accountant has been
guilty of professional misconduct,
the Council may appoint a
disciplinary committee for the
purpose of holding an inquiry into
the conduct of that person.
Third Sch.
(3) The provisions of the Third
Schedule to this Act shall apply
in relation to the constitution
of, and the procedure to be
followed by, disciplinary
committees appointed under this
section, the proceedings at
inquiries held by such committees
and the powers exercisable by such
committees.
Section 17—Suspension.
The Council may, in lieu of
exercising its powers under
section 15 of this Act, suspend
the person concerned from
membership of the Institute or
withhold his registration under
section 13 of this Act, for such
period as the Council may deem
fit.
Section 18—Appeals to the High
Court.
(1) Any person aggrieved by a
decision of the Council under
section 15 or section 17 of this
Act, may appeal against that
decision to the High Court.
(2) Every appeal under subsection
(1) of this section against a
decision shall be,
(a) made by petition in writing
bearing a stamp of one guinea;
(b) lodged within three months
after the date of that decision;
and
(c) heard and decided by a Judge
of the High Court after such
summary inquiry as that Judge may
deem requisite.
Section 19—Meaning of
"Professional Misconduct".
Fourth Sch.
For the purposes of this Act,
"professional misconduct" means
any act or omission which is for
the time being specified in the
Fourth Schedule to this Act.
Restrictions
Section 20—Restrictions on
Practising as Accountant.
(1) No person who is not a
chartered accountant or is not a
practising accountant shall carry
on practice as defined in section
23 of this Act.
(2) No person who is a chartered
accountant or is a practising
accountant shall practise as an
accountant unless he is the holder
of a certificate to practise which
is for the time being in force.
(3) Every certificate to practise
shall be issued by the Council
upon payment of the prescribed
annual subscription.
(4) Every certificate to practise
shall be in force until the
thirty-first day of December of
the year of issue of that
certificate, and may from time to
time be renewed upon payment of
the prescribed annual
subscription.
(5) The preceding provisions of
this section shall come into
operation six months after the
coming into force of this Act.
Section 21—Restrictions as to Use
of Titles Conferred under this
Act.
(1) No person, not being a
chartered accountant, shall take
or use the title "Chartered
Accountant".
(2) Notwithstanding anything
contained in the preceding
subsection, any firm of
accountants, each of the partners
of which is a member of the
Institute not being a practising
accountant, may take and use the
title "Chartered Accountants".
(3) No person, not being a person
for the time being registered
under section 13 of this Act shall
take or use the title "Practising
Accountant".
(4) Notwithstanding anything
contained in the immediately
preceding subsection, any firm of
accountants, each of the partners
of which is a practising
accountant may take and use the
title "Practising Accountants".
PART IV—MISCELLANEOUS PROVISIONS
Section 22—Offences and Penalties.
Any person who contravenes any
provision of this Act commits an
offence and shall be liable to
imprisonment for a term not
exceeding one year or to a fine
not exceeding one hundred pounds
or to both such imprisonment and
fine.
Section 23—Meaning of "practice".
(1) For the purposes of this Act,
a person shall be deemed to
practise as an accountant if, in
consideration of remuneration
received or to be received, and
whether by himself or in
partnership with any other person,
he,
(a) engages himself in the
practice of accountancy or holds
himself out to the public as an
accountant;
(b) offers to perform or performs
service involving the auditing or
verification of financial
transactions, books, accounts or
records or the preparation,
verification, or certification of
financial accounting and related
statements;
(c) renders professional service
or assistance in or about matters
of principle or detail relating to
accounting procedure or
certification of financial facts
or data; or
(d) renders any other service
which may be prescribed by the
Institute by Regulations to be
service constituting practice as
an accountant.
(2) A person who is a salaried
employee of the Government or of
any other employer shall not, by
reason only that he does any act
referred to in the preceding
subsection in his capacity as such
employee, be deemed to practise as
an accountant.
Section 24—Regulations.
The Council may, by legislative
instrument and with the prior
approval of the Minister, make
Regulations for or in respect of
any matter required or authorised
by this Act to be prescribed or of
any matter relating to, or
connected with, its functions
under this Act or the proper
exercise, discharge or performance
thereof.
Section 25—Amendment of Schedules.
The Minister may, upon the
recommendation of the Council, by
legislative instrument, amend,
alter or add to or revoke any or
all of the provisions of the
Schedules to this Act.
Section 26—Transitional
Provisions.
(1) Notwithstanding anything
contained in the preceding
sections of this Act, the
following provisions shall apply
in relation to the first enrolment
of members of the Institute and
the constitution of the first
Council to hold office under this
Act, that is to say,
(a) all persons who are members of
the Association of Accountants in
Ghana on the date of the coming
into operation of this Act shall
be members of the institute as
chartered accountants;
(b) the members of the Society of
Ghanaian Practising Accountants
shall, on the coming into
operation of this Act, become
members of the Institute as
practising accountants;
(c) any other person practising as
an accountant may, within three
months of the coming into
operation of this Act, submit an
application for membership of the
Institute to a committee of the
first Council of the Institute and
on approval for membership shall
be registered as a practising
accountant;
(d) the Council of the Association
of Accountants in Ghana on the
date of the coming into operation
of this Act, enlarged by the
addition of three members of the
Council of the Society of Ghanaian
Practising Accountants, shall be
the first Council of the Institute
and shall within three months of
the coming into operation of this
ACT convene a general meeting of
members of the Institute for the
purpose of electing a new Council.
(2) On the coming into operation
of this Act the Association of
Accountants in Ghana and the
Society of Ghanaian Practising
Accountants, being companies
registered under the Companies
Ordinance (Cap. 193), shall be
deemed to have ceased to operate
under that Ordinance and
accordingly their names shall be
struck off the register of
companies in accordance with the
provisions of the Companies
Ordinance (Cap. 193).
(3) All the assets and liabilities
of, and any property vested in,
the Association of Accountants in
Ghana and the Society of Ghanaian
Practising Accountants immediately
before the coming into operation
of this Act shall, without further
authority than this subsection,
vest in the Council established
under section 7 of this Act.
(4) All employees of the
Association of Accountants in
Ghana and of the Society of
Ghanaian Practising Accountants on
the coming into operation of this
Act shall, so far as may be
practicable and subject to any
direction by the Council, continue
as employees of the Council in
posts comparable to those which
they held with the Association or
the Society.
(5) Every contract in respect of
any matter subsisting between the
Association of Accountants in
Ghana or the Society of Practising
Accountants and any other person
and in force immediately before
the coming into operation of this
Act shall, subject to any
directions by the Council, be
deemed to subsist between the
Council and such other person.
Section 27—Interpretation.
In this Act unless the context
otherwise requires,—
"Council" means the Council
established under section 7 of
this Act;
"Institute" means the Institute
established under section 1 of
this Act;
"Minister" means the Minister
responsible for higher education;
"President" means the President of
the Institute, and
"Vice-President" shall be
construed accordingly.
FIRST SCHEDULE
(Section 3)
MEETINGS OF THE INSTITUTE
1. Annual Meeting.
The annual meeting of the
Institute for the transaction of
the ordinary annual business of
the Institute namely,
(a) the election of members of the
Council;
(b) the appointment of auditors;
and
(c) the reception and
consideration of the annual report
of the Council and accounts of the
Institute with the auditors'
report thereon,
shall be held in Accra or
elsewhere in Ghana on the 30th day
of April in every year or on such
other day as the Council may from
time to time appoint:
Provided that a meeting shall be
held in every calendar year and
that not more than fifteen months
shall have elapsed since the date
of the previous annual meeting.
2. Special Meeting.
The Council may, whenever it
thinks fit, convene a special
meeting of the Institute and shall
do so within twenty-one days from
the receipt by the secretary of a
requisition in writing signed by
not less than twenty members and
stating the object of the proposed
meeting.
3. Notice of Motion to be given.
A
member wishing to bring before the
annual meeting any motion not
related to the ordinary annual
business of the Institute may do
so provided that,
(a) notice in writing of the
proposed motion is sent or given
to the secretary and received by
him not later than five weeks
before the date of the annual
meeting;
(b) not less than ten members
entitled to vote at the annual
meeting shall have sent or given
notice in writing to the secretary
and received by him not later than
four weeks before the date of the
annual meeting expressing their
desire that the proposed motion
should be brought before the
annual meeting; and
(c) the proposed motion relates to
matters affecting the Institute or
the accountancy profession.
4. Notice of Meetings to be given.
(1) The secretary shall, not less
than fourteen days or more than
twenty-one days before any annual
or special meeting of the
Institute, send to each member a
notice giving the day, hour and
place of the meeting and the
business to be transacted thereat.
(2) In the case of the annual
meeting the secretary shall send
to each member with such notice a
copy of the annual report of the
Council and a copy of the accounts
of the Institute with the
auditors' report thereon, a list
of persons nominated or deemed to
be nominated for membership of the
Council or as auditors, and
particulars of all motions to be
brought before the meeting under
the immediately preceding
paragraph of this Schedule.
(3) The non-receipt by any member
of such notice or of any of the
aforesaid documents shall not
invalidate the proceedings of the
meeting to which they relate.
5. Practising accountants shall be
entitled to receive notices of
meetings of the Institute and
shall be entitled to speak and
vote at such meetings.
6. Chairman of Meeting.
(1) At all meetings of the
Institute the President or in his
absence the Vice-President shall
be chairman.
(2) In the absence of both the
President and the Vice-President a
chairman shall be elected from
among the members of the Council
present or in the absence of all
of them, from among the members
present.
7. Quorum at Meeting.
(1) Unless ten members be present
at the annual meeting within
fifteen minutes after the time
appointed for the meeting, the
meeting shall stand adjourned for
a fortnight to be held at the same
hour and place or, if such place
shall not then be available, at
such other place as the Council
may determine.
(2) On the date to which the
meeting was adjourned the meeting
shall proceed to business
notwithstanding that there may be
less than ten members present.
(3) At a special meeting, unless
fifteen members be present within
fifteen minutes of the time
appointed for the meeting, the
meeting shall be dissolved.
8. Adjournment of Meeting.
(1) Subject to the provisions of
this Schedule, the chairman of any
meeting of the Institute may, with
the consent of the meeting,
adjourn the meeting from time to
time and from place to place.
(2) No business shall be
transacted at any adjourned
meeting other than the business
left unfinished at the meeting
from which the adjournment took
place.
(3) No notice need be given of an
adjourned meeting unless it be so
directed in the resolution for
adjournment.
9. Voting at Meeting and Demand
for Poll.
(1) Every resolution and amendment
proposed and seconded at a meeting
of the Institute shall be put to
the meeting by the chairman and
decided by a show of hands; and in
the event of an equality of votes
the chairman shall have a casting
vote.
(2) The declaration of the
chairman as to the decision of the
meeting shall be final.
(3) On such a declaration being
made a poll of all members may be
demanded in writing by at least
twenty-five members present and
entitled to vote at the meeting;
but a poll shall not be taken on
any resolution or amendment
relating to the election of a
chairman, the appointment of
scrutineers or the adjournment of
a meeting.
10. Procedure when Poll Demanded.
(1) On a poll being demanded at a
meeting of the Institute, the
chairman shall forthwith, or as
soon as is reasonably practicable
after the conclusion of the
meeting at which the poll is
demanded, state the resolution or
amendment in the form of
propositions which in his opinion
will be most suitable to ascertain
the sense of the members upon the
substance of the resolution or
amendment; and upon the manner of
so stating the resolution or
amendment the chairman's decision
shall be final.
(2) Voting papers setting out the
propositions so stated, together
with any necessary notes and
directions shall, within fourteen
days after the meeting be issued
by the Council to all members
entitled to vote at the meeting at
which the poll was demanded.
(3) All members wishing to vote on
the propositions or any of them
shall do so by sending the said
voting papers to the Institute
addressed to the scrutineers so as
to be received by them not later
than twenty-one days after the
meeting.
11. Appointment of Scrutineers.
At every meeting of the Institute
at which a poll is demanded the
meeting shall appoint five of
their number as scrutineers, any
three of whom shall be competent
to act.
12. Meeting of Scrutineers and
Result of Poll.
(1) Where a poll has been
demanded, the scrutineers shall
meet not less than twenty-two days
nor more than twenty-nine days
after the meeting at which the
poll was demanded and shall
examine the voting papers.
(2) Envelopes containing the
voting papers may be opened either
before or at such meeting of the
scrutineers but may only be opened
in the presence of at least one of
the scrutineers.
(3) The scrutineers shall reject
the vote of any member who, at the
date of such meeting, was in
arrears with any subscription or
other sum payable by him under
this ACT or Regulations made
thereunder and may in their
discretion reject any vote in
which a member has failed to
observe the notes and directions
relating thereto or any other vote
which in their view ought properly
to be rejected.
(4) The scrutineers shall, as soon
as practicable, report the result
of the voting to the chairman of
the meeting and shall include in
the report a statement of the
number of votes rejected by them
and the reasons for such
rejection.
(5) The chairman shall send a copy
of the report to each member as
soon as practicable and, where
there is an equality of votes, the
chairman shall have a casting
vote; and in such a case shall
declare when so sending the report
to members the manner in which his
casting vote is given and the
result of the voting.
(6) The report of the scrutineers
as to the result of the voting, or
where given such declaration of
the chairman, shall be conclusive.
(7) The voting shall take effect
from the date of the report of the
scrutineers save that where a
meeting was adjourned to receive
the report of the scrutineers the
voting shall take effect from the
date when the report was presented
to the adjourned meeting.
(8) Where for any reason a
chairman is unable to exercise any
powers granted to him by this
Schedule the power shall be
exercised by any member of the
Council who was present at the
meeting and who is deputed by the
Council to exercise such powers.
13. Demand for Poll not to Prevent
other Business.
The demand for a poll at a meeting
shall not prevent the transaction
of any business other than that on
which the poll has been demanded.
14. Minutes of Meeting.
Proper minutes shall be recorded
of all resolutions and proceedings
of meetings of the Institute and
every minute signed by the
chairman of the meeting to which
it relates or by the chairman of a
subsequent meeting shall be
sufficient evidence of the facts
therein stated.
SECOND SCHEDULE
(Section 7 (4))
(Coat of Arms)
IN exercise of the powers
conferred upon the President of
the Republic by subsection (4) of
section 7 of the Chartered
Accountants Act, 1963 (Act 170)
the ............. day of
............................, 1963
is hereby appointed the day on
which the Council established
under the said Act shall commence
to perform the functions thereunto
conferred upon it.
By Command of the President.
Minister
THIRD SCHEDULE
(Section 16 (3))
1. (1) For the purposes of
any inquiry to be held under
section 16 of the Act, the Council
shall appoint five persons, of
whom at least three shall be from
among its members, to constitute a
disciplinary committee and shall
appoint one of them to be chairman
of the committee
(2) Where the person whose conduct
is the subject of the
investigation is a practising
accountant membership of the
disciplinary committee shall
include a practising accountant.
2. (1) The Council shall
cause a statement to be prepared
setting out the charges to be
investigated by the disciplinary
committee, and the secretary of
the Council shall transmit a copy
of the statement to each member of
the committee and to the person
whose conduct is the subject of
the investigation.
(2) Where the inquiry is to be
held in consequence of a petition
or complaint alleging misconduct
by any person, the secretary of
the Council shall, in addition,
transmit a copy of that petition
or complaint to that person and to
each of the members of the
disciplinary committee.
3. (1) The secretary of
the Council shall give notice of
the first date fixed for the
inquiry to the person whose
conduct is the subject of the
investigation.
(2) Every such notice shall, at
least fourteen days before the
date fixed for the inquiry, be
delivered by hand at, or sent
through the post by registered
letter addressed to, the last
known address of that person.
(3) Where any person to whom a
notice has been given under
sub-paragraph (1) of this
paragraph fails to appear in
person or is not represented by
counsel, the inquiry may be held
by the disciplinary committee in
his absence.
(4) Notice of any date to which
the inquiry may be adjourned shall
be given by the committee
personally to the person whose
conduct is the subject of inquiry
or be given in manner provided in
sub-paragraph (2) of this
paragraph.
4. (1) If the Council is
of the opinion that the evidence
of any person, or the production
by any person of any document is
necessary to enable any matter to
be investigated by a disciplinary
committee, the Council shall
direct the secretary of the
Council to require the attendance
of that person, or the production
by that person of such document,
at such time and place as may be
specified in a notice which shall
be delivered by hand at, or sent
through the post by registered
letter addressed to, the last
known place of residence of that
person.
(2) Any person who having been
served with a notice under
sub-paragraph (1) of this
paragraph fails, without
reasonable cause, to attend or to
produce any document, as the case
may be, at the time and place
specified in the notice, commits
an offence under this Act
(3) The secretary of the Council
shall be the secretary of every
disciplinary committee and every
notice issued under this Schedule
shall be signed by him.
(4) A disciplinary committee shall
have power to administer oaths or
affirmations to all persons who
are required to give evidence
before such committee, and any
person who refuses to be sworn or
affirmed, or to answer such
questions as may be put to him
concerning any matter in respect
of which the inquiry is held,
commits an offence under this Act.
(5) Any person who upon
examination upon oath or
affirmation before a disciplinary
committee wilfully gives false
evidence commits an offence under
this Act.
(6) Any person whose conduct is
the subject of investigation at an
inquiry or who is in any way
concerned or implicated in such
inquiry may be represented by
counsel at the inquiry.
(7) The Council may authorize any
legal practitioner to assist the
disciplinary committee as to the
leading and taking of evidence.
(8) Every inquiry held by a
disciplinary committee shall,
unless the Council otherwise
determines in any case be held in
camera.
(9) Any question before a
disciplinary committee shall be
determined by the decision of the
majority of the members of that
committee.
(10) Upon the conclusion of an
inquiry, the disciplinary
committee shall prepare and
transmit to the Council a report
embodying the findings on the
matters in respect of which the
inquiry was held.
FOURTH SCHEDULE
(Section 19)
1. Each of the following acts on
the part of a chartered accountant
shall constitute professional
misconduct, namely,
(a) allowing any other person to
practise in his name as a
chartered accountant unless such
person is also a chartered
accountant and is in partnership
with or employed by himself;
(b) entering into partnership with
any person other than a chartered
accountant or securing, either
through the services of a person
not qualified to be a chartered
accountant or by means which are
not open to a chartered
accountant, any professional
business.
2. Each of the following acts on
the part of a practising
accountant shall constitute
professional misconduct, namely,
(a) allowing any other person to
practice in his name as a
practising accountant unless such
person is also a practising
accountant and is in partnership
with or employed by himself;
(b) entering into partnership with
any person other than a member of
the Institute or securing, either
through the services of a person
not qualified to be a practising
accountant or by means which are
not open to a practising
accountant, any professional
business.
3. Each of the following acts of
omissions on the part of a
chartered accountant or a
practising accountant shall
constitute professional
misconduct, namely,
(a) paying or allowing or agreeing
to pay or allow, directly or
indirectly, to any person, other
than a chartered accountant or a
practising accountant or a retired
partner or a nominee or the legal
representative of such partner,
any share, commission or brokerage
out of the fee or profits for his
professional services;
(b) accepting or agreeing to
accept any part of the profits of
the professional work of a legal
practitioner, auctioneer, broker
or other agent who is not a
chartered accountant or a
practising accountant;
(c) soliciting clients or
professional work either directly
or indirectly, by circular,
advertisement, personal
communication or interview or by
any other means;
(d) advertising professional
attainments or services;
(e) disclosing information
acquired in the course of
professional engagement to any
person other than a client,
without the consent of the client,
or otherwise than as required by
any law for the time being in
force;
(f) accepting a position as
auditor previously held by another
chartered accountant or practising
accountant without first
communicating with him in writing;
(g) accepting an appointment as
auditor of a company without first
ascertaining from it whether the
requirements of the law relating
to the appointment of auditors
have been duly complied with;
(h) certifying or submitting in
his name or in the name of his
firm a report of an examination of
financial statements unless the
examination of such statements and
the related records have been made
by him or by a partner or an
employee in his firm;
(i)
permitting his name or the name of
his firm to be used in connection
with an estimate of earning
contingent upon future
transactions in a manner which may
lead to the belief that he
vouches for the accuracy of the
forecast;
(j) expressing his opinion on
financial statements of any
business or any enterprise in
which he, his firm or partner in
his firm has a substantial
interest, unless he disclosed the
interest also in his report;
(k) charging in respect of any
professional employment, other
than insolvency or receiverships,
fees which are based on a
percentage of profits or which are
contingent on results;
(l) failing to disclose a material
fact known to him which is not
disclosed in a financial
statement, but disclosure of which
is necessary to make the financial
statement not misleading;
(m) failing to report a material
mis-statement known to him to
appear in a financial statement
with which he is concerned in a
professional capacity;
(n) gross negligence in the
conduct of professional duties;
(o) failing to obtain sufficient
information to warrant the
expression of an opinion;
(p) failing to keep moneys of a
client in a separate banking
account or to use such moneys for
purposes for which they are
intended; and
(q) including in any statement,
return or form to be submitted to
the Council any particulars
knowing them to be false.
4. Notwithstanding anything to the
contrary contained in paragraphs
1, 2, or 3 of this Schedule, a
chartered accountant or a
practising accountant, as the case
may be, shall not be guilty of
professional misconduct by reason
only of any of the following acts,
namely,
(a) entering into or being in
partnership with any person
outside Ghana who is a member of a
society or institute of
accountants of the description
specified in paragraph (b) of
subsection (1) of section 4 of
this Act;
(b) securing professional business
by reason of such partnership;
(c) allowing such partnership to
be carried on in his name;
(d) paying or allowing or agreeing
to pay or allow to any such
partner any share out of the fees
or profits.
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