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500.1 |
A member in public practice should not use a trade or association name
or any other impersonal or fictitious names under which to practise the
profession. The term "trade or association name" means a business name
that is not a personal name or a composite of personal names. |
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500.2 |
A member in public practice is not allowed to practise as a
chartered accountant or licensed accountant other than -
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(a) |
in his or her own name, or |
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(b) |
in the name or names of his or her partner or partners, being
chartered accountants or licensed accountants; or |
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(c) |
in the name of a firm existing at the time of the coming into
operation of the Act or formed thereafter provided that the partners in
Malaysia are eligible to be registered as chartered accountants or
licensed accountants. |
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500.3 |
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(1) |
A member in public
practice should not allow the name of the firm to be used by any
organisation to conduct business that is incompatible to public practice
or which would bring the profession to disrepute. |
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(2) |
A member in public practice should not report or express an opinion on
financial statements examined for the purposes of such report or opinion
by a person other than a staff or member of his or her firm, unless such
other person is also a member in public practice, except for entities
which are incorporated or operating outside Malaysia. |
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(3) |
A member in public
practice should not assist by any means and in any manner whatsoever any
person who practises or holds himself or herself out as a chartered
accountant, auditor, tax consultant, tax adviser or any other like
description in contravention of the Act or any other law for the time
being in force in Malaysia. |
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500.4 |
Subject to paragraph 500.6, a member in public practice should not allow
any person who is not a member of the Institute to practise in
partnership with him or her as a chartered accountant/licensed
accountant or to practise in his or her name as a chartered
accountant/licensed accountant. |
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500.5 |
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(1) |
A member who is not entitled to be a member in public practice is not
allowed to -
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(a) |
hold himself or herself out to be a member in public practice in any
manner whatsoever; |
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(b) |
provide public practice services as a chartered accountant, auditor, tax
consultant or tax adviser or any services of a similar nature that may
indicate or be likely to lead persons to infer that he or she is a
member in public practice or qualified by any written law to practise
the profession of or is in practice as a chartered accountant. |
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(2) |
Notwithstanding paragraph 500.5(1), the
aforesaid member may carry on the work of a tax consultant or a tax
adviser if authorised to do so under section 153 of the Income Tax Act
1967. |
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(3) |
A member who is registered with the
Institute as a licensed accountant is not precluded by paragraph
500.5(1) from carrying on any practice in which he or she was
professionally engaged immediately before the coming into operation of
the Act. |
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500.6 |
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(1) |
A
member may subject to these by-laws, participate whether as a director
and/or shareholder in a limited or unlimited company which offers
taxation, tax advice and taxation consultancy services, provided that in
doing so -
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(a) |
the
member and/or the company does not contravene any written law; and
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(b) |
the
company is not in any way described as Chartered Accountants or Licensed
Accountants. |
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(2) |
Where members participate as directors
and/or shareholders in limited or unlimited companies in the manner as
stated in paragraph 500.6(1), such members are -
(a) deemed for the purposes of these by-laws to be members in public
practice and the provisions of the rules of the Institute and these
by-laws with the appropriate modifications, apply to such members; and
(b) cause the companies to comply with these by-laws if such members
hold the majority interest and/or voting rights whether directly or
indirectly in the companies. |
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