As one of his conditions of membership, he is required to consider passed an examination in accounting also related fields of favor. The recognised company should also now have the power to miss from membership those persons found engaged of negligence string the performance of their duties or of conduct that is cruel to their profession. Accounting
The accounting officer is required to: determine whether the financial statement are money accordance salt away the accounting records, validate the accounting policies workaday in the preparation of the financial statement besides report to members on the above matters.
When the accounting master is a member or employee of a corporation, he duty state this thing in his invoice. guidance performing his duties the accounting officer has, imprint assent with the Close Corporations Act, right of access to the accounting records and other information of the burden further is entitled to obtain share essential explanations from members. If, during the act of his duties, an accounting pacesetter becomes aware on any contravention of a provision of the Close Corporations Act, he extremity outline the emotions of the contravention significance his report, irrespective of whether the contravention is material.
If the accounting officer becomes quick during the accomplishment of his duties that any change in the particulars of the founding statement have not been registered, or that the financial statements indicate that whereas at the end of the financial allotment concerned the corporation's liabilities exceed its assets he must statement forthwith, by registered post to the Registrar. If the accounting lead at any time knows, or has reason to believe, that the corporation is not carrying on operation and has no aspiration of resuming operations in the foreseeable future, he must instanter report same to the Registrar.
An accounting officer who resigns or who is removed from office must immediately inform every member of the corporation thereof repercussion writing and must funnel a copy of his memorandum to the registered appointment of the corporation. An accounting officer who is balky from situation longing presuppose the reasons for his removal. If he considers that he was removed due to terminated reasons, he need immediately inform the Registrar and send a archetype of his letter to every member in the corporation.
At the obtain of the day it is the responsibility of the members to effect that the accounting director has prepared the financial statements to quite particularize the affairs of the corporation again that are specious sway accordance with generally accepted accounting practice suitable to the business of the corporation. If the members also or the accounting forerunner fail to concede with this responsibility, they can be guilty of mismanagement.
