Bill ID 5133 (Legislature 17, Session 1)

L17 S1 5133

Alberta — Bills

1972 Bill Pro 9 First Session, 17th Legislature, 21 Elizabeth II THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL Pre 9

An Act to Incorporate the Institute of Accredited Public Accountants of Alberta MR. GRITTER First Reading .............................. . Second Reading ...... . Third Reading .............................. . Printed by L. S. Wall, Queen's Printer, Edmonton

BILL Pre 9 1972

AN ACT TO INCORPORATE THE INSTITUTE OF ACCREDITED PUBLIC ACCOUNTANTS OF ALBERTA ( Assented to ,1972)

Preamble 'iVHEREAS the persons hereinafter named have by their Petition prayed that it be enacted as hereinafter set forth, and it is expedient to grant the prayer of the Petition:

Short title Intel'I!re tation Incorpo ration Head office THEREFORE Her Maj esty, by and with the advice and consent of the Legislative Assembly of Alberta, enacts as follows: 1. This Act may be cited as The Institute of Accredited Public Accountants of Alberta Act. 2.

In this Act, (a) "by-law" means a by-law of the council; (b) "council" means the council of the Institute; (c) "Institute" means The Institute of Accredited Pub· lic Accountants of Alberta incorporated under this Act; (d) "member" means a member of the Institute and in cludes a certificated member of the Institute and a student member of the Institute. 3. Ralph A. Siebring, Douglas Clarke, R. J. Barrett, J. C. Givens, IsaIah Melech, Peter Huising and Mrs.

Greta Ben nett all of the Province of Alberta, Accountants, and such other persons as now have or hereafter may acquire mem bership in the Institute, are hereby constituted a body corporate under the name "The Institute of Accredited Public Accountants of Alberta". 4. The head office of the Institute shall be at the City of Calgary or such other place within the Province as the coun cil may by by-law from time to time determine.

Objects and purposes of Institute Power to hold real property The 0o'UnciI Officers Annual meeting 5. The objects and purposes of the Institute are (

a) to provide an 'Organization for accountants and auditors, and for student accountants and student auditors, with a view to promoting and advancing the interests of the profession of accountancy; (

b) to co-operate with, assist, and receive assistance from, any 'Organization within Canada or elsewhere having like or similar aims and objects; (c) ~o improve the skill, knowledge and pr'Oficiency of Its members by providing facilities for study and research and by disseminating specialized knowl edge and training among its members; (

d) to do such other lawful things as are incidental or conducive to the attaining 'Of the above objects or any of them. 6. The Institute may acquire, hold, dispose of, and other wise deal with, real and personal property necessary for its objects and purposes. 7.

(1) There shall be a council composed of seven per sons, 'Or such greater or lesser number as may be determined by by-law, to be known as "The Council of The Institute of Accredited Public Accountants of Alberta", by which the business and affairs of the Institute shall be managed.

(2) Until the first annual meeting of the members of the Institute, the council shall be composed of the persons named in

section 3.

(3) At the first and subsequent annual meetings the members of the council shall be elected by ballot and shall continue in office until their successors are elected. 8.

(1) The council shall elect from among its members a president, a vice-president, a secretary and a tre~surer, and such additional or other officers as may be provIded by the by-laws.

(2) Until the first annual meeting of the members of the Institute the said Ralph A. Siebring shall be the president, the said'Douglas Clarke shall be the vice-preside?t, the said R. J. Barrett shall be the secretary, and the SaId J. C. Givens shall be the treasurer. 9. The first annual meeting of the members of the In stitute shall be held not later than the first day 'Of December, 1972 and an annual meeting shall be held in each year there afte; at such time and place as may be fixed in the by-laws. 2

By-laws Membership Certificated members Student members Qualifi cations for membership 10. Th~ council may make by-laws for the carrying out ~f ~h.e objects and I?urposes of the Institute and, without hmItIng the generahty of the foregoing, may by such by laws provide for (

a) the terms and conditions of membership in the Institute; (

b) the discipline, suspension and expulsion of its members; (

c) the powers and duties of the officers of the Institute; (

d) the curriculum and course of study to be pursued by student members; (

e) the appointment of examiners, the defining of their duties, and the fixing of their remuneration; (

f) the time and place of the annual meetings of the members; (

g) the procedure to be adopted at meetings of the In stitute and of the council. 11. Membership in the Institute shall be of two classes, namely, certificated membership and student membership. 12. A certificated member of the Institute shall be known as and styled "Accredited Public Accountant", and may affix to his name the words "Accredited Public Ac countant" or the initials "A.P.A." 13.

A student member shall be entitled to such privileges and rights, and be subj ect to such obligations, in the Instit ute as the by-laws may from time to time provide, but no student member shall be entitled to vote at a meeting of the Institute. 14. Under such terms and conditions as the council may by by-law prescribe, certificated membership in the Instit ute shall be open to (a) (

b) any resident of Alberta who is an accredited mem ber in good standing of the association known as "The Institute of Accredited Public Accountants" incorporated under the laws of the Parliament of Canada; or any resident of Alberta whose knowledge and ab.i1- ity, experience, conduct,moral, ethical and finanCIal qualifications are at least equal to those mentioned in clause (

a) and whose application has been ap proved by the council. 3

Qualifi cations for student membership Membership fees and 8!ssessments Liabj,lity of members 15. The council shall prescribe the subj ects on which examinations shall be taken, which shall include the follow ing and such others as may in its opinion be necessary or desirable: (

a) bookkeeping and accounting, including the practical application of all taxing statutes of the Parliament of Canada and of the Legislature of Alberta, The Companies Act, The Partnership Act, the Bank Act (Canada), the Bankruptcy Act (Canada), the Bills of Exchange Act (Canada), the Canada Corpora tions Act, the Winding Up Act (Canada), and all similar and related statutes of the Parliament of Canada and of the Legislature of Alberta; (

b) auditing, including types of audits, verifications of assets and liabilities, verification of income and ex penses, and verification of revenue and expendi tures; (

c) business investigations, including the principles of practice and procedure on bond issues, mergers, company reorganization, defalcation of funds, fire loss and adj ustments and appraisals; (

d) commercial law, including the principles of con tract, partnership, bulk sales, real estate, wills, estates, copyrights, patents and royalties; (

e) industrial and business organization and adminis tration, including the principles of cost accounting, installation of business systems, budgeting, credits and collections, office management and correspond ence. 16.

(1) The council may fix an entrance fee and an annual fee to be paid by members of each class, and may from time to time vary the amount of such fees.

(2) The council may from time to time fix such special assessments as it may deem necessary or advisable to be paid by members of any c:Iass, but no such assessment shall be recoverable until confirmed by a vote of the members at an annual or at a special general meeting called for the purpose.

(3) All fees and assessments fixed by the council under authority of this Act may be recovered as debts due to the Institute. 17. No member shall be liable for any debt of the In stitute beyond the amount of his unpaid fees and assess ments. 4

Register Regist€'r as evidence of membership Prohibitions Right to practise as accountant 'or auditor Penalty Coming into force 18.

(1) The council shall cause to be kept by one of its officers a register, in which shall be entered the names of all certificated members of the Institute in good standing.

(2) Those persons only whose names are entered in the register shall be entitled to the privileges of certificated membership in the Institute. 19. The register kept under

section 18 shall be prima facie evidence in all courts in Alberta that the persons whose names are entered therein are certificated members of the Institute in good standing, and the absence of the name of any person from the register shall be prima facie evidence that he is not a certificated member of the Institute. 20. No person unless he is a certificated member of the Institute and registered as such may (

a) take or use the designation "Accredited Public Accountant", or (

b) use in connection with his business, occupation, or calling, the initials "A.P.A." either alone or in com bination with any other initial or initials, word or words, or any other initials, names, titles, or des cription, implying in any such case that he is a member of the Institute. 21. Nothing in this Act shall affect or interfere with the right of any person who is not a member of the Institute to practise as an accountant or auditor in Alberta. 22. Any person who contravenes any of the provisions of

section 20 is guilty of an offence and liable on

summary conviction, for every such contravention, to a fine not ex ceeding $25. 23. This Act comes into force on the day upon which it is assented to. 5 Title: 1972 (17th, 1st) Bill Pr9,

An Act to Incorporate the Institute of Accredited Public Accountants of Alberta

Document details

Collection	Alberta — Bills
Citation	L17 S1 5133
Type	bill
Volume / chapter	L17 S1 5133
Language	en
Format	json
Source	PROVINCIAL
Identifier	6ee286c9de95bbf3b3e55f077d1f6936e40f8416

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