ACCOUNTANTS AND AUDITORS

Dominion, Volume 8, Issue 2405, 10 March 1915, Page 3

ACCOUNTANTS AND AUDITORS

ANNUAL GENERAL MEETING

PRESIDENT'S ADDRESS

The annual general meeting of' the New Zealand Accountants' and Auditors' Association was held last night, the president (Mr. E. W. Evans, of Auckland) being in the chair.

The annual report stated that the year's income had exceeded the expenditure, and tho outstanding subscriptions stood at a lower figure than usual. At . the outbreak of tho war the Executive Committee considered that the association should do its sharo to help the Empire, and the sum of £25 was donated to the New Zealand War Fund. At the close of the year the membership of the. association stood at 227. During the year five applications for promotion to fellowship were considered, and in three cases the applications were granted. The thanks of the council were extended to the executive and local committees for the services rendered to the association throughout the period. In moving tho adoption of the report, the president referred to the satisfactory result of the year's work, and went on to stress the importance of retailers' books and accounts being periodically audited. "I particularly mention retailers," he said, "because the final distribution of nearly all classes of merchandise passes through this channel of trade'to the consumer. It is therefore obvious that if the retailer is working on sound commercial lines and accepted business principles, his trading must be prosperous. If conducted otherwise, there can only bo une result. Might I suggest to commercial accountants that when opportunity arises they bring the importance of such audits and investigations before the notice of their principal customers; for I feel certain that all will ngree that it is only through profitable retailing, a prosperous commercial reiiection can be expected by manufacturing and wholesale houses. • Consequently, in tho evolution of business the public accountant benefits in his professional capacity as auditor." Touohing upon the future of the association, the president remarked that there were one or two significant facts that lie would like to mention, and in doing so he was compelled to refer in tho first instance to the attitude of the N'ow Zealand Society of Accountants. ''You all know," he said, "that at the last examinations of this body the matriculation examination was compulsory for all,examinees, and the opinion has -been very widely expressed .that such a test was not only very inconvenient for those who had been engaged in offices for somo years, but that it waß an unnecessary and harsh test - for the qualification of accountancy when the standard set in all other subjects was of such a high order. So far as the matriculation examination is concerned, I think it,will'be admitted that it is simply a "general knowledge" examination, and should not be .'t as a test to prove tho ability ,of. anyone' sitting for examination ill accountancy subjects; for I hold that if an examinee can. satisfy the'governing authority by ' examination' in practical accountancy subjects, that lie possesses the necessary knowledge and ability he 'is entitled to his certificate. Opinions have also been expressed that the other tests are-too severe, the result that Ithose engaged in commercial pursuits have been . discouraged from prosecuting their studies. I am onlv stating opinions, but I feel sure you will all agree that tho papers set should be of such a nature only to. elicit from the examiner that knowledge which should "be possessed by a first-class accountant. It will be for-the. incoming council to closely watch and keep in touch with the doings of the New Zealand Society respecting future examinations, and _not only is it within the range of possibility but also the range of probability that your association will have recourse to its former sphere of usefulness, again setting up examinations for those who wish to qualify for the accountancy profession.", Mr. W. H. Hemingway, who seconded tho motion for' the adoption of the report, expressed the opinion that, while' a general knowledge' examination was necessary in accountancy, the matriculation was not the one required. He contended that tho members of the University Senate closely enough in touch with the subject to • prescribe the correct examination as there was not a commercial man on the Senate. Moreover, if the matriculation examination were to remain attached to the accountancy course it would be found that students on passing that examination would follow the more lucrative callings of law and. medicine, and the accountancy profession would be neglected. This would be bad for the country. After others of those present had spoken in support of the motion, the report was adopted. A resolution was carried expressing sympathy with Mr. W. F. Scandrett, of Invercargill, in his recent illness, and wishing him a speedy return to health. Officers were elected as. follow:— President, Mr. G. O'Halloran (Auckland) ; vice-presidents, Messrs.' W. H. Hemingway (Aueklaud), F. P. Corkill (Taranaki), J. H. G. Rowley (Wellington), A. W. Bascand (Canterbury), C. H. Statham (Otago), and W. A. Ott (Southland); council, Messrs. E. W. Evans, F. Gribble, T. _E. Whitton, R. H. Potter, and E. Wright (Auckland), H. Bailey and R. Ellis (Taranaki), J. M. Fleming, T. Forsyth, J. Kellow, D. M'Kay, and J. C. Port (Wellington), W. H. Cheeseman, F. H. Labatt, C. J. Salter, A. J. Virtue, and T. Compton (Canterbury), G. Blyth, H. Mitchell, J. G. Patterson, W. E. C. Reid, and T. H. Thompson (Otago), and R. A. Anderson and W. F. Scandrett (Southland); auditor, Mr. P. S. Butler (Auckland); registrar, Mr. G. W; Hutchison (Auckland).