N.Z. INSTITUTE OF ACCOUNTANTS.

Dominion, Volume 4, Issue 1221, 1 September 1911, Page 6

N.Z. INSTITUTE OF ACCOUNTANTS.

ANNUAL MEETING. The annual meeting of the Incorporated Institute of Accountants of New Zealand was held last evening, Mr. W. W. Bruce (Auckland) presiding. Members wero present from all parts of tho Dominion. The annual report slated that:— The membership of the institute at the beginning of the year" was 292, consisting of MS Fellows, 121 Associates, and 20 students. Twenty-one gentlemen who had passed the New Zealand Society's examination in 1910 with the requisite marks, applied for aefmission to the institute — two as Fellows and 19 as Associates—and were duly admitted by circular resolution. The number on the register at the end of the year was 371, consisting of IBS Fellows, 201 Associates, and 5 students. The prize essay, competition for 1910, "Goodwill: Its Nature and Treatment in Accounts," resulted as follows: —A. M. Seaman, 1; F. A. Barclay, 2; Arnold Hore, 3. The annual statement of accounts showed that the institute had .£OOO on fixed deposit, and a credit balance in tho bank of J2228 12s. lid., and 3s. in hand. The excess of income over expenditure for the year was <£101 3s. 2d., and a recovery was made of .£lO 10s— amount previously written off. Thus the accumulated fund'now stood at .tb. Ms. lhl. In moving the adoption of tlie report and balance-sheet, the president, dealt with the future policy of the institute, in view of the coming into existence of the New Zealand Society of Accountants. Having carried out its obligations to would-be members, and having decided not to hold any more examinations,; it was difficult to know what else the institute could do.in order to justify its existence. They had all done their best to create another institute in order to more effectively fulfil the same functions that they, the Incorporated Institute, hitherto had endeavoured'to do. He had, however, j endeavoured to 'ascertain tlie feelings of members. The old members were'prepared to throw in their lot with the new' society, though in doing so would be giving up what most they pride. There was, however, . another general opinion, viz., that after the reputation that tlie institute had built up and the importance attached to its diplomas,' that -it should not disband. He, personally, had formed a strong opinion that the institute could not at present be dissolved. It could lie dormant in order that the new institute might more quickly place itself in the high position that the institute had done. They must, however,' be careful to guard against any competitive elements entering into the two societies' existence. Mr. A. B. Robertson (Auckland) seconded the motion. . Mr. W. Jack saw no reason why the institute should disband. . Jlr. H. C. Tewsloy (Wellington) suggested that in connection with the University commercial courses which were now being held, that the institute should subsidise the sum of .£l5O already being given by the New Zealand Society of Accountants by an annual grant of ,£IOO. Several members expressed their views npon the question of whether the society should dissolve or continue. Mr. H. D. Vickery (Wellington), as a younger member of the institute, advocated its continuance. Mr. Peter Barr (Dunedin) said there was no further justification for the continued existence of the society except that the members desired it; and they wero all desirous, he. took it, flint it should continue. In this .matter the older members were at one with the younger members. .In regard to tho relations with tlie new society, he pointed out that seven of the members of the institute then present' were members of tlie council of the new society. (Hear, hear.)

The report and balance-sheet were adopted. ■ , A motion was' carried thanking tho president for his address, and deciding that it be printed.,

The election of councillors (.who retired automatically) resulted as follows:— Wellington, Mr. C. Matthews: Auckland, Mr. W. B. Holmes; Canterbury, Mr. C. W. Hulme; Dunedin. Mr. C. E.-Smith; other districts. Mr. W. M'Culloch; auditor, Mr. A.: J. Pethericlc (Wellington).

Mr. W. B. Hudson moved the following addition to the articles of the association:—"(4a) Members by exariiination of the Now Zeal and. Society of Accountants incorporated: under the New Zealand Society of Accountants Act, 1908, may be admitted members of the institute subject to the same provisions as to reputation, character, and competency as those enumerated in Article; No. 3, and in accordance with procedure in that article, except tnpt in their case the minimum age shall be twenty-five "years in the case of a fellow and twenty-one years in the case of an associate, and the entrance fees.shall be £3 3s. and £1 Is. respectively.". The resolution was carried unanimously. Mr. A. B. Robertson (Auckland) moved that the meeting, approve of the suggestion that the surplus funds of tho institute, to the extent of .£IOO, should be used in the direction of augiuentng any subsidy to be paid to the university by. the New Zealand Society of Accountants. After discussion the motion, with tho consent of the mover, .was altered in tho direction of approving a suggestion that a sum not exceeding i£loo per annum should be the contribution',' and that the period of the grant be five years. • This was carried.. SOCIETY OF ACCOUNTANTS. The council of the..Ncw Zealand Society of Accountants sat throughout yesterday, and will continue, in conference to-day, Mr. Peter : Barr (Dunedin) presiding. The election of officers resulted as follows:—President, Mr. Peter Barr (reelected); vice-president, Mr. H. C. Tewsley (Wellington), 1 re-elected; treasurer, Mr. J. S. Barton. It was decidcd that the executive consist of the president, vice-president, and tho Wellington members of. the-council. An examination committee was set up as follows:—The president, vice-president, Messrs. A. T. Clark, J. S. Barton, Henry Shaw, and Walter Euthprfurd; an'"investigation" committee—the president and vice-president, and Messsrs. Hulme (Christchurch), Wilson (Tirimru), Hampson (Nelson), M'Culloch (Nanier), -Shaw (Auckland), and Clark (Wellington).