AGY-1988 | Public Accountants Registration Board

Full description

The Public Accountants Registration Board was established under the Public Accountants Registration Act 1945 commencing on 28 May 1945. (1)

Between April 1945 and January 1946, the Public Accountants Registration Board was made up of the following five members: · the Auditor-General (who was the chairman); · the Under-Secretary of The Treasury; · the Crown Solicitor; · the State Chairman of the Institute of Chartered Accountants in Australia or such member as may be nominated by him; · the State Chairman of the Commonwealth Institute of Accountants or such member as may be nominated by him (2).

Between January 1946 and December 1961, the Public Accountants Registration Board consisted of the following five members: · the Auditor-General (who was the Chairman); · the Under-Secretary of The Treasury; · the Public Trustee; · two registered public accountants elected by registered public accountants (3).

Members of the Board held office for three years and were eligible for re-election at the end of their term. In December 1961, the Board was reconstituted. The Board was made up of five members, as follows: · the Auditor-General (who was the Chairman); · the Public Trustee; · three members were appointed by the Governor of whom: - one was to be a barrister or solicitor with at least five years standing who would chair any inquiry, investigation or hearing held under the Act; - one was to be selected from a panel of names of three registered public accountants nominated by the Council of the NSW Branch of the Institute of Chartered Accountants in Australia; - one was to be selected from a panel of names of three registered public accountants nominated by the Council of the NSW Division of the Australian Society of Accountants (4).

Members held office for three years. Any person could be registered as a public accountant if they proved to the Board that they: · were above the age of twenty-one years; · were of good character; · were engaged in, or about to engage in the practice of the profession; · had passed the examinations set by the Board, and acquired such practical experience as the Board deemed sufficient; · were, at the commencement of the Act, a holder of a certificate of membership of any approved institute of accountants; or had passed the final examination for membership prior to the commencement of the Act; · were engaged in the practice of the profession or calling as a public accountant either on his own behalf or in partnership with any other public accountant; or · were a member of the Commonwealth naval, military or air forces at the commencement of the Act and who had practiced as an accountant not less than one year before joining the armed forces; · were a member of the armed forces during World War Two, registered under such terms and conditions as the Board imposed (5).

The Board could exempt from any or all examinations, any person who proved they had passed an equivalent examination held by the University of Sydney or any Technical College under the control of the Department of Public Instruction. The Board could also exempt any accountant who practiced outside New South Wales (6).

The Companies Auditor's Board was a separate entity from the Public Accountant's Registration Board, but for practical purposes the administrative and financial operations of the two were merged. (7) The Public Accountants Registration Board was abolished on 1 July 1989.

Endnotes
1. NSW Government Gazette No.36, 13 April 1945, p.652.
2. Public Accountants Registration Act no.18, 1945. Part 2, Section 4.
3. Ibid, Part 2, Section 6.
4. Ibid, Part 3, Section 18.
5. Ibid, Part 3, Section 19.
6. Report of the Public Accountant's Registration Board for the year ended 31 December, 1975 p. 3 in NSW Parliamentary Papers 1976-77-78 vol. 10 p. 725.
7. Public Accountants Registration (Amendment) Act No.61, 1961. Section 4.