Accountants Act, 1985
Act 5 of 1985
- Commenced on 1 April 1985 by Date of Commencement (Accountants Act) Notice, 1985
- [This is the version of this document at 1 December 1998.]
Part I – Preliminary
1. Short title and commencementThis Act may be cited as the Accountants Act, 1985 and shall come into operation on such date as the Minister may, by notice in the Gazette, appoint and the Minister may appoint different dates for the coming into force of the different provisions of the Act.
2. InterpretationIn this Act, unless the context otherwise requires—“articled clerk” means a person who is duly bound to serve under articles of clerkship;“articles of clerkship” means a written contract whereby any person is duly bound to serve another for a specific period and is entitled to receive training in the profession of a chartered accountant;“auditor” means a person who is registered as such under section 9(3) and holds himself out to be an auditor;“Bye-laws” means the Bye-laws of the Institute made under this Act;“chartered accountant” means a person who is registered in terms of section 9(1);“Council” means the Council of the Institute elected by the Institute in terms of this Act;“financial year” means the period from the 1st April in one year to the 31st March in the following year and in respect of the first accounting period it shall be the period whether shorter or longer than twelve months as the Institute may determine;“formal training” means a programme of training for trainee accountants or trainee chartered accountants approved or recognised by the Institute;[Added A.5/2000]“Institute” means the Swaziland Institute of Accountants established under section 3;“Minister” means the Minister responsible for Finance;“public practice” means the practice of an auditor who has an office or place of business in Swaziland and for that purpose holds himself out as an auditor and places his services at the disposal of the public for reward, but does not include services which are substantially at the command of any person or of the Government;“Register” means the Register of Accountants and Auditors maintained by the Institute under section 4(1);“registered accountant” means a person who is registered in terms of section 9(2);“resident” means(a)a citizen of Swaziland; or(b)any person to whom a residence permit has been issued under section 22(4) of the Immigration Act, 1964 and who is ordinarily resident in Swaziland for a period of not less than eight months in each year during the period of validity of his residence permit;“student clerk” means a person other than an articled clerk who is registered with the Institute in order to study for the certificate issued by the Council under section 9;“trainee accountant” means a person other than an articled clerk who has entered into a training contract registered with the Institute in order to study for the examination of the Institute.[Added A.8/1991]
Part II – The Institute and the Council
3. Establishment of the Swaziland Institute of Accountants
4. Maintenance of Registers
5. Power of Institute to prescribe qualificationsThe Institute shall prescribe the degrees, diplomas or other qualifications of persons required by it for registration under section 9.
6. Functions of the InstituteThe Institute may—
6bis. Borrowing powers of Institute
7. Inauguration of Institute and Council
8. General meetings of the Institute
Part III – Registration of accountants
9. Persons entitled to be registered as accountants
10. Persons disqualified from registrationNo person shall be registered in terms of section 9 who—
11. Right of appeal to the High CourtA person whose application for registration has been refused by the Council may appeal against such refusal to the High Court and the rules of Court applying to appeals from a magistrate’s court to the High Court shall, mutatis mutandis, apply to such appeal.
12. Prohibition against practising as an auditorNo person who is not registered under section 9(3) as an auditor and who does not have an office or place of business in Swaziland, shall be entitled to practise as an auditor:Provided that a person practising as an auditor at the date of commencement of this Act shall be entitled to continue so to practise without registration for a period of ninety days from such date; andProvided further that nothing in this Act shall be construed as preventing the Auditor-General from performing his duties in terms of the Finance and Audit Act, of 1967.
13. Use of designations
14. Information to be furnished by accountants and auditors
Part IV – Disciplinary powers of Council
15. Inquiry by Council into charges of unprofessional conduct
16. Matters for and procedure upon inquiry by Council
17. Notification of decision of CouncilAs soon as practicable but not more than thirty days after the conclusion of an enquiry by the Council the Registrar shall notify the person concerned of the Council’s findings and decision.
18. Appeal to the Court against decision by Council
19. Power to publish decisionsAfter an application to the High Court in terms of this Act has been dismissed or the period during which such an application may be made in terms of this Act has expired, the Council may publish in the Gazette a report of the findings and of any penalty imposed by it at an inquiry held in terms of section 16(1).
20. Effect of suspension or removal from RegisterNo person who has been suspended or whose name has been removed from the Register under this Part shall practise as a public accountant and his registration certificate shall be deemed to be cancelled until the period of suspension has expired or until his name has been restored to the Register in terms of section 16(1).
21. Removal of name at request of person registeredThe Registrar shall remove the name of any person from the Register on written application made by such person and on proof to the satisfaction of the Registrar that no disciplinary proceedings are being contemplated or have been instituted against such person.
22. Restoration of name to Register
Part V – Auditors
23. Prohibition against practising as auditorSubject to section 12, no person who is not registered in terms of section 9(3) shall be entitled to act as an auditor where the appointment of an auditor or the performance of an audit is required by any law.
24. Powers and duties of auditors
Part VI – Bye-laws
25. Bye-lawsProvided that a general meeting of the Institute has approved of them by a majority of two-thirds of the members present and voting, the Council may by notice in the Gazette publish Bye-laws for—
Part VII – Offences and penalties
26. Offences and penalties by unregistered personsAny person who is not registered under this Act as an auditor or chartered accountant and—
27. Offence and penalties by persons registered under this Act
Part VIII – Miscellaneous
28. Repeal of Order No. 25 of 1978The Public Accountants and Auditors Order, 1978 is hereby repealed.
History of this document
01 December 1998 this version
01 April 1985
Commenced by Date of Commencement (Accountants Act) Notice, 1985
Cited documents 0
Documents citing this one 5
- Swaziland Government Gazette dated 1994-06-24 number 31
- Swaziland Government Gazette dated 1997-07-04 number 268
- Swaziland Government Gazette dated 2006-08-18 number 097