Accountants Act · s 21

Suggest a correction

Tell us what is wrong in this text. We check every suggestion against the official version before we change anything.

What is wrong?Wrong or mistyped wordsWrong structure or numberingWrong title or detailsText that appears twice

What should change, and whyUp to 2,000 characters.The text as it should read (optional)

21.
Approval of accounting firms
(1) A public accountant who wishes to have a firm or proposed firm approved as an accounting firm may apply to the Authority for approval of —
(a) the firm as an accounting firm; and
(b) the name or proposed name of the accounting firm.
(2) An application under subsection (1) shall be made in accordance with the prescribed requirements and shall be accompanied by the prescribed fee.
(3) The Authority may, on receiving an application made under this section, approve the firm or proposed firm concerned as an accounting firm only if —
(a) one of the primary objects of the firm or proposed firm is to provide public accountancy services;

Accountants 26
(b) at least two-thirds, or such other proportion as may be prescribed, of the partners are public accountants, or if the partnership has only two partners, one of those partners is a public accountant; and
(c) the business of the partnership, so far as it relates to the supply of public accountancy services in Brunei Darussalam, will be under the control and management of one or more partners who are public accountants ordinarily resident in Brunei Darussalam.

Edit the text above. Up to 20,000 characters.Where you checked it (optional)A link to the official version, if you have one.

The text as we hold it

Open the official text

s 21Approval of accounting firms

(1)

A public accountant who wishes to have a firm or proposed firm approved as an accounting firm may apply to the Authority for approval of —

(a)

the firm as an accounting firm; and

(b)

the name or proposed name of the accounting firm.

(2)

An application under subsection (1) shall be made in accordance with the prescribed requirements and shall be accompanied by the prescribed fee.

(3)

The Authority may, on receiving an application made under this section, approve the firm or proposed firm concerned as an accounting firm only if —

(a)

one of the primary objects of the firm or proposed firm is to provide public accountancy services;

Accountants 26

(b)

at least two-thirds, or such other proportion as may be prescribed, of the partners are public accountants, or if the partnership has only two partners, one of those partners is a public accountant; and

(c)

the business of the partnership, so far as it relates to the supply of public accountancy services in Brunei Darussalam, will be under the control and management of one or more partners who are public accountants ordinarily resident in Brunei Darussalam.