1973 Bill Pro 3 Second Session, 17th Legislature, 21 Elizabeth II THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL Pre 3

An Act to Incorporate the Institute of Accredited Public Accountants of Alberta MR. GHITTER First Reading .............................. . Second Reading . Third Reading .............................. . Printed by QUEEN'S PRINTER for the Province of Alberta, EDMONTON

Preamble Bill Pro 3 Mr. Ghitter BILL Pre 3 1973

AN ACT TO INCORPORATE THE INSTITUTe OF ACCREDITED PUBLIC AC'CQUNTANTS OF ALBERTA (Assented to , 1973)

WHEREAS the persons hereinafter nam'ed have by their Petition prayed that it be enacted as hereinafter set forth and it is expedient to grant the prayer of the Petition.

NOW THEREFORE HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Alberta, enacts as follows:

Short title 1. This Act may be cited as The Alberta Accredited Public Accountants Act. Interpre- 2. In this Act, tation Incor­ poration Head office (a) "by-law" means a by-law passed by the council; (b) ",council" means the council of the institute; (c) "institute" means The Institute of A'ccredited Pub­ lic Accountants of Alberta incorporated under this Act; (d) "member" means a member of the institute and includes a certificated member of the institute and a student member of the institut'e. 3. Doug Clarke, R. J. Barrett, J. Albert Barrie, D. F. ThOll1pson, J. C. Givens, Peter Huising and J. E.

Logan, all in the Province of Alberta, Accountants, and such other persons as now have or herea:£ter may acquire membership in the institute, are hereby constituted a body Icorporate under the name "The Institute of Accredited Public Ac­ countants 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 council may by by-law from time to time determine.

Objects Power to hold real property The Council First council Election of coundl First officers Annual meeting 5. The objects and purposes of the institute are (

a) to pr'Ovide an organization for accountants and auditors, and for student accountants and student auditors, with a view t'O pr'Omoting and advandng the interests of the profession of acc'Ountancy; (

b) to Ico-operate with, assist, and receive assistance from, any organization within Canada 'Or elsewhere having like or s,imilar aims and 'Obj'ects; (

c) tD imprDve the skill, knDwledge and prDficiency 'Of its members by prDviding facilities fDr study and research and by disseminating speciaHzed knDwl­ edge and training am'Ong its members; (

d) tD dD such 'Other lawful things as are incidental Dr cDnducive to the attaining 'Of the above objects or any 'Of them. '6. The institute may acquire, h'Old, dispose of, and 'Other­ wise deal with, real and personal property necessary for its Dbj'ects and purposes. 7.

(1) There shall be a council cDmposed of seven per­ sons, Dr such greater 'Or lesser number as may be deter­ mined by by-law, to be knDwn as "The CDuncil 'Of The Institute of Accredi,ted Public AccDuntants of Alberta", by which the business and affairs 'Of the inst~tute shall be managed.

(2) Until the first annual meeting of the members of the institute the c'Ouncil shall be composed 'Of the persons named in sectiDn 3.

(3) At the first and subsequent annual me'etings the members of the cDuncil shall he elected by ballot and shall cDntinue in 'Office until their successors are elected. 8.

(1) The council shall elect from amDng its members a president, a vice-<president, a secretary and a treasurer, and such additi'Onal Dr other officers as may be prDvided by the by-laws.

(2) Until the first annual meeting 'Of the members 'Of the institute the said DDUg Clarke shall be the pres'ident, the said R. J. Barrett shall be the vice-president, the said J. Alber;t Barrie shall be the secretary, and the said D. F. ThDmpsDn shall be the treasurer. 9. The first annual meeting 'Of the members 'Of the insti­ tute shall be held nDt later than the first day 'Of December, 1973, and an annual meeting shall be held in each year thereafter at such Nme and place as may be fixed in the by-laws. 2

By-taws Membership Certilicated members Student members Qualifi­ cations for membership l.().

(1) The council may pass by-laws for the carrying out of the objects and powers of the institute and, without limiting the generality 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 insti­ tute; (

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 institute and of the council.

(2) Every such by-law unless in the meantime confirmed at a general meeting of the institute called for the purpose of considering the same has force only until the next annual meeting and in default of confirmation thereat ceases to be in force.

(3) A by-law passed by the council may be repealed, amended, varied, or otherwise dealt with by the institute at an annual meeting or at a special meeting called for the purpose. 11. Membership in the institute shall be of two classes, namely, certificated membership and student membership. 12. A certificated member of the institut'e shall be known as and styled "Accredited Public Accountant" and may affix to his name the word.s "Accredited Public Ac­ countant" or the initials thereof "A.P.A.". 13.

A student member shall be entitled to such privileges and rights, and be subject to such obl,igations, in the insti­ tute 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 insti­ tute shall be open to (

a) any resident of Alberta who is an accredited mem­ ber in good standing of the association known as "The Institute of Arccredited Public Accountants" incorp'Orated by charter of the Government 'Of Canada, and 3

Qualifi­ cations for student membership Exami­ nations MembM"­ship fees and assess­ ments (

b) those persons whose knowledge and ability, experi­ ence, conduct, moral, ethkal and financial qualifi­ cations are at least at par with thos'e mentioned under clause (

a) and whose application has been approved by the council. 15. Student membership in the institute shall be open to such persons as the council may determine and under such terms and conditions as the by-laws may pres'cribe. 16. The council shall prescribe the subjects on which examination shall be taken, which shall include the follow­ ing and such others as may in its opinion be necessary or des'irable : (

a) bookkeeping and accounting, including ,the prac­ ti'cal application of all income tax laws of the Parli­ ament of Canada, taring laws of the province, the Canada Corporations Act, The Companies Act of Alberta, The Partnership Act, the Bankruptcy Act, the Bank Act, the Winding Up Act and the Bills of Exchange Act; (

b) auditing, including types of audits, verification of assets and liabilities, verification of income and expenses, and revenue and 'expenditures; (

c) business investiga,tions, including the principles of practice and procedure on bond issues, mergers, company reorganization, defalcation of bonds, fire loss and adjustments, and appraisals; (

d) commercial law, including the principles of con- (

e) tract, partnership, bulk sales, real estate, wills, estates, copyrights, patents and royalties; industrial and business organization and adminis­ tration, including the principl'es of cost accounting, installation of business systems, budgeting, credits and collections, off'ice management and correspond­ ence. 1. 7.

(1) The council may fix an entranee 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 assessm'ents as it may deem necessary or advisable to be paid by members of any class, 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. 4

Liability of members The register Register as evidence ,of member­ ship Prohibitions Right to practice Penalty Commence­ ment 18. No member shall be liable for any debt of the insti­ tute beyond the amount oQf his unpaid fees and assessments. 19. The council shall cause to be kept by one of its of­ fieers a re'gi,ster in which shaH be entered the names of all certificated members of the institute in good standing, and those persoQns only whose names are entered in the register shall be entitled to the privileges of certificated member­ ship in the institute. 20. The register for which proQvision is made in

section 19 shall be prima facie evidence in all courts in the Prov­ ince that the persons whose names are entered therein are certificated members of the institute in goQod standing, and the absenee of the name of any person from the register shall be prima facie evidence that he is not a certificated member of the institute. 21. No person, unless he 'is a certificated me'mber of the institute and registered as such, may (

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

b) use in connection with his business, occupation, or calling, the initials "A.P.A." 'either along or in combination with any other initial or initials, word oQr words, or any other initials, names, t,itles, or de­ scription, implying in any such case that he is a member of the institute. 22. Nothing in this Act shall affect or interfere with the r,ight of any person who is not a m'ember of the insti­ tute to practice as an accountant or auditor in the Province. 23. Any person who contravenes any of the provisions of

section 21 shall be guilty of an offence and liable on

summary conviction, for every such contravention, to a fine nOot exceeding $100. 24. This Act comes into force on the day upon which it is assented to. 5 Title: 1973 (17th, 2nd) Bill Pr3,

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