Accountants Act · 2023 Revised Edition · Part · Accounting Corporations, Accounting Firms and Accounting Limited Liability Partnerships
37. Liability Partnerships
Official textFrom Attorney General's Chambers, unchanged
The Registrar shall remove from the Register of Public
Registrar
“Registrar” means the Registrar of Public Accountants appointed by His Majesty the Sultan and Yang Di-Pertuan under section 10(1)(a) and includes a Deputy Registrar and an Assistant Registrar appointed under section 10(1)(b);
Accounting Corporations the name and relevant particulars of any accounting corporation if —
accounting corporation
“accounting corporation” means a company approved as an accounting corporation under section 20;
the accounting corporation has been wound up;
the approval of the accounting corporation under this Part has been revoked under Part 7; or
the accounting corporation has applied for its approval under this Part to be revoked.
The Registrar shall remove from the Register of Public
Accounting Firms the name and relevant particulars of any accounting firm if —
accounting firm
“accounting firm” means a firm approved as an accounting firm under section 21;
the accounting firm has been dissolved;
the approval of the accounting firm under this Part has been revoked under Part 7; or
the accounting firm has applied for its approval under this
Part to be revoked.
The Registrar shall remove from the Register of Public
Accounting Limited Liability Partnerships the name and relevant particulars of any accounting Limited Liability Partnership if —
accounting limited liability partnership
“accounting limited liability partnership” means a limited liability partnership approved as an accounting limited liability partnership under section 22;
the accounting Limited Liability Partnership has been dissolved;
the approval of the accounting Limited Liability Partnership under this Part has been revoked under Part 7; or
the accounting Limited Liability Partnership has applied for its approval under this Part to be revoked.
The Authority shall not grant an application by an accounting corporation, an accounting firm or an accounting Limited Liability
Authority
“Authority” means such person as is appointed by His Majesty the Sultan and Yang Di-Pertuan under section 3(1) to be the Authority for the purposes of this Act;
Accountants
Partnership for the revocation of its approval under subsection (1)(c), (2)(c)
or (3), as the case may be, if —
he has received any complaint or information under Part 7
against the accounting corporation, accounting firm or accounting
Limited Liability Partnership or any public accountant practising therein;
disciplinary proceedings under Part 7 are pending against the accounting corporation, accounting firm or accounting Limited
Liability Partnership or any public accountant practising therein; or
the conduct of business of the accounting corporation, accounting firm or accounting Limited Liability Partnership is the subject of an inquiry or investigation by the Oversight Committee or a
Disciplinary Committee under Part 7.
The Authority may also revoke its approval of an accounting corporation or an accounting firm and order the removal of its name and relevant particulars from the appropriate Register if he is satisfied that —
relevant particulars
“relevant particulars”, in relation to a public accountant, an accounting corporation, an accounting firm or an accounting Limited Liability Partnership, means such particulars of the public accountant, accounting corporation, accounting firm or accounting Limited Liability Partnership as the Authority may determine to be relevant for inclusion in the Register of Public Accountants, the Register of Public Accounting Corporations, the Register of Public Accounting Firms or the Register of Public Accounting Limited Liability Partnerships, as the case may be;
the approval of the accounting corporation, accounting firm or accounting Limited Liability Partnership under this Part was obtained by fraud or misrepresentation;
the accounting corporation, the sole proprietor or any partner of the accounting firm, or any partner of the accounting Limited
Liability Partnership, as the case may be, has made an arrangement with its or his creditors;
the accounting corporation, accounting firm or accounting
Limited Liability Partnership has ceased to provide public accountancy services in Brunei Darussalam; or
the accounting corporation, accounting firm or accounting
Limited Liability Partnership is no longer in a position to provide public accountancy services effectively.
The Authority shall, before exercising his powers under subsection (5), notify the accounting corporation, accounting firm or accounting Limited Liability Partnership concerned of its intention to take such action and shall give the accounting corporation, accounting firm or accounting Limited Liability Partnership an opportunity to submit reasons,
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within such period as the Authority may determine, as to why its approval under this Part should not be revoked.
Any person who is aggrieved by an order under subsection (5)
may, within 30 days of being notified of the order, appeal to the Minister whose decision is final.
Terms defined in s 2
accounting corporation
Defined · s 2“accounting corporation” means a company approved as an accounting corporation under section 20;
accounting firm
Defined · s 2“accounting firm” means a firm approved as an accounting firm under section 21;
accounting limited liability partnership
Defined · s 2“accounting limited liability partnership” means a limited liability partnership approved as an accounting limited liability partnership under section 22;
Authority
Defined · s 2“Authority” means such person as is appointed by His Majesty the Sultan and Yang Di-Pertuan under section 3(1) to be the Authority for the purposes of this Act;
Disciplinary Committee
Defined · s 2“Disciplinary Committee” means a Disciplinary Committee appointed under Part 7;
Oversight Committee
Defined · s 2“Oversight Committee” means the Public Accountants Oversight Committee appointed by the Authority under section 5(1);
public accountancy services
Defined · s 2“public accountancy services” means the audit and reporting on financial statements and the doing of such other acts that are required by any written law to be done by a public accountant;
public accountant
Defined · s 2“public accountant” means a person who is registered in accordance with this Act as a public accountant;
Register of Public Accounting Corporations
Defined · s 2“Register of Public Accounting Corporations” means the register kept and maintained under section 6(1)(a)(ii);
Register of Public Accounting Firms
Defined · s 2“Register of Public Accounting Firms” means the register kept and maintained under section 6(1)(a)(iii);
Register of Public Accounting Limited Liability Partnerships
Defined · s 2“Register of Public Accounting Limited Liability Partnerships” means the register kept and maintained under section 6(1)(a)(iv);
Registrar
Defined · s 2“Registrar” means the Registrar of Public Accountants appointed by His Majesty the Sultan and Yang Di-Pertuan under section 10(1)(a) and includes a Deputy Registrar and an Assistant Registrar appointed under section 10(1)(b);
relevant particulars
Defined · s 2“relevant particulars”, in relation to a public accountant, an accounting corporation, an accounting firm or an accounting Limited Liability Partnership, means such particulars of the public accountant, accounting corporation, accounting firm or accounting Limited Liability Partnership as the Authority may determine to be relevant for inclusion in the Register of Public Accountants, the Register of Public Accounting Corporations, the Register of Public Accounting Firms or the Register of Public Accounting Limited Liability Partnerships, as the case may be;
Part
Practice Monitoring Programme
Part
Disciplinary Proceedings
Part