THE COMPANIES ACT

Hokitika Guardian, 6 March 1931, Page 3

THE COMPANIES ACT

PHOPOSKI) A.M KN'DAi KNTS. WimbLINGTOX. .March 3. Activities ui the A*-\v /a-awind Society of Accounuui is iu ihe UiiAcuo.i Ol lrgisiuli\. ami reguK.lmn a-HK moat wore she siinjvci o; comment oy the president of the society. Air \Y. !). Rcvell (liiiiaru), al the anu.ml meeting. IP referred to the work being done by the committee set up by ihe AiUn'-ney-uoiicral lor tne purpose ol rcpoi'ting on the proponed amemlmenis to the Companies Act. The eomniince, ..e s.,Ki, natl unuunaKen a v.orii o. some magnitude, and iL u;is doubtful whctln. r the Bill wo.dd he ready tor the next session of Parliament, but when ill. Bill came forward it would lie comprehensive and would do much to eradicate the weaknesses of the piysent Act, which had become out of dale and in urgent need of amendment. Regarding the solicitors' trust account audit regulations, committees iypr. seotative of the Accountants' Society and the Law Society had met on numerous occlusions and agreed upon several proposed amendments to the regulations. The regulations were now being redrafted for su Inn union to the committee, for final consideration, after which they would he placed before the Attorney-General, who had expressed his willingness to give effect to the roconimtndntion.s. I,; was sincerely hoped that when submitted there would he little delay in having them gazetted, as those who had to deal with audits realised the necessity for amendments which would ensure more satisfactory audits both from the point of view of accountants as well as that of the public.