Short title

        1. These regulations may be cited as the Chartered Accountants Regulations .

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Definitions

        2. In these regulations

             (a)  "Act" means the Chartered Accountants Act, 2008 ;

             (b)  "applicant " means a person applying to the institute for membership;

             (c)  "ASCA" means the Atlantic School of Chartered Accountancy;

             (d)  "by-laws" means the by-laws of the institute;

             (e)  "firm " means a sole proprietorship or partnership;

              (f)  "membership committee" means the membership committee appointed under by-law 241(4);

             (g)  "partnership " includes a limited liability partnership;

             (h)  "profession " means the profession of chartered accountants in Newfoundland and Labrador and "professional" refers to a member of that profession;

              (i)  "provincial institute" means an institute or order of chartered accountants incorporated in a province or territory of Canada , or in Bermuda , but does not include the Institute of Chartered Accountants of Newfoundland and Labrador ;

              (j)  "rules of professional conduct" means the rules of professional conduct of the institute; and

             (k)  "student" means a student registered under the provisions of the by-laws, and includes a person registered as a student on a conditional basis under the by-laws, and for the purpose of paragraph 3(2)(a) includes a student of a provincial institute.

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Admission to membership

        3. (1) The membership of the institute consists of those persons who are members or fellows of the institute in good standing at the date of the first enactment of these regulations and those other persons who are afterward admitted, and who continue in good standing.

             (2)  The membership committee may by resolution admit to membership of the institute an applicant who has completed a declaration in the form the board may require and for whom it has received satisfactory evidence of good moral character, where the applicant is

             (a)  a student who has registered with the institute and who has fulfilled the educational, practical experience and examination requirements prescribed by the board;

             (b)  a member in good standing of a provincial institute and whose professional qualifications and experience are satisfactory to the board;

             (c)  a certified public accountant from the United States of America who is a certificate holder in good standing with a state board of accountancy or equivalent body which recognises membership in the institute as a basis for obtaining the certificate granted by that board without requiring the member to write and pass the uniform certified public accountant examination administered by the American Institute of Certified Public Accountants, if he or she has fulfilled all of the educational, practical experience and examination requirements prescribed by the board for applicants under this paragraph; or

             (d)  a member or former member of an accounting body outside Canada and the United States which recognizes membership in the institute as a basis for obtaining membership in that body without requiring that its normal final examinations be written and passed, if the other accounting body

                      (i)  is designated by the board under subsection 4(1), in the case of a current member in good standing of the accounting body,

                     (ii)  was designated by the board under subsection 4(1), or a predecessor provision when the former member ceased to be a member in good standing of that accounting body, in the case of a former member, or

                    (iii)  was a body designated by the board under subsection 4(1), or a predecessor provision, on the date the person applying to the institute was admitted to membership in that body, if the body is not designated under subsection 4(1) on the date of making application to the institute,

and if the applicant has fulfilled all of the educational, practical experience, and examination requirements as prescribed by the board for an applicant under this paragraph.

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Designated accounting bodies

        4. (1) The board may designate particular accounting bodies outside Canada which have educational, practical experience and examination requirements for qualification for membership which are acceptable to the institute, and professional standards and requirements for admission to and continuance of membership which are acceptable to the institute.

             (2)  The board may remove the designation of a particular accounting body made under subsection (1).

             (3)  The board may prescribe the educational, practical experience, and examination requirements for persons who apply for membership.

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Application for membership

        5. (1) An applicant for membership in the institute shall make application to the registrar in writing and the application shall be accompanied by a declaration signed by the applicant that the contents of the application are true and correct.

             (2)  An applicant shall inform the board if he or she

             (a)  has been convicted of a criminal or similar offence;

             (b)  has pleaded guilty or been found guilty of a violation of the rules of professional conduct;

             (c)  is the subject of an investigation by the complaints authorization committee or a body having similar powers with another provincial institute;

             (d)  is the subject of a charge laid by the disciplinary body of another provincial institute; and

             (e)  has pleaded guilty or been found guilty of violating the provisions of the Securities Act or regulations or an equivalent Act or regulations in another jurisdiction.

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Readmission to membership

        6. (1) The membership committee may by resolution re-admit to membership of the institute an applicant who has completed the requirements as prescribed by the board.

             (2)  The membership committee shall give prompt written notice to the applicant of its decision reached under subsection (1).

             (3)  An applicant who is not satisfied with the decision of the membership committee may apply to have the matter reviewed by the board.

             (4)  A member of the membership committee shall not take part in the consideration of, or participate in a decision regarding, an application under subsection (3) if the member participated in a previous consideration or decision of the membership committee in respect of the matter that is the subject of an appeal under subsection (3).

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Fellows

        7. (1) A member of the institute, in good standing, who has given conspicuous service to the profession, the institute and the community may, by obtaining an affirmative vote of at least 2/3 of all members of the board whether or not attending the meeting at which the matter is dealt with, be admitted as a fellow of the institute.

             (2)  A member of the board is not eligible for nomination or election for fellowship.

             (3)  A member who is admitted as a fellow shall be entitled to take and use the designation "Fellow of Chartered Accountants" or the initials F.C.A. and shall be granted a certificate accordingly.

             (4)  The use of the designation F.C.A. shall be subject to the by-laws of the institute.

             (5)  The board shall, upon application, admit as fellows those members who have been elected fellows by another provincial institute for as long as

             (a)  the provincial institute grants a similar right to its members; and

             (b)  the member retains membership in the provincial institute.

             (6)  A fellow may not continue to hold the title fellow if he or she is no longer on the roll of the institute or the roll of another provincial institute.

             (7)  The board shall decide on the appropriateness of re-awarding the title to a member who has been re-entered on the roll of the institute.

             (8)  A reinstated member may recover the title of fellow by obtaining an affirmative vote of at least 2/3 of all members of the board whether or not attending the meeting at which the matter is dealt with.

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Honourary membership

        8. (1) A person, who has given conspicuous service to the institute, either in the advancement of its educational objects or general welfare, or by material contribution to the library or other funds of the institute, may by unanimous vote of the board be elected to honourary membership in the institute.

             (2)  An honourary membership does not confer upon a person the right to use the designation "chartered accountant" or be elected to the board.

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Membership certificate

        9. (1) A member shall be entitled to receive a certificate of membership which shall be in the form that the board may determine and to hold the certificate as long as he or she remains a member.

             (2)  A m embership certificate remains the property of the institute and in the event of termination or suspension of membership for a reason other than death shall, at the request of the board, be returned to the institute.

             (3)  All members certificates shall be under the seal of the institute attested by the chairperson or vice-chairperson and by the secretary-treasurer.

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Use of designation

      10. A member, practising in partnership with a person who is not a member, shall not permit the partnership to take or use the designation "Chartered Accountants" or "Fellow of Chartered Accountants", or permit the partnership to take the initials "C.A." or "F.C.A.".

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Firm and professional corporation names and registration

      11. (1) A member, firm, or professional corporation shall register with the institute, in the manner prescribed by the board, the name or names under which the member or firm carries on a public accounting practice or a related function business or practice.

             (2)  The board may authorize a firm to practice under a name which is consistent with the rules of professional conduct.

             (3)  Upon registration with the institute, a firm or professional corporation shall designate a member of the institute to be the designated representative of the firm or professional corporation .

             (4)  A member shall notify the institute in writing not later than 30 days following

             (a)  a merger of the members practice with another members practice or a firm or practice;

             (b)  the acquisition by the member of another members practice or a firm or practice; and

             (c)  the closure or termination of the members practice.

             (5)  The designated representative of a firm shall notify the institute in writing not later than 30 days following

             (a)  the merger of the firms practice with another members practice or a firm or practice;

             (b)  the acquisition by the firm of another members practice or a firm or practice; and

             (c)  the dissolution of the firm.

             (6)  The designated representative of a professional corporation shall notify the institute in writing not later than 30 days following

             (a)  the merger of the professional corporations practice with another members practice, or firm or practice;

             (b)  the sale or transfer of the voting shares of the professional corporation to another member or firm;

             (c)  the acquisition by the professional corporation of another members practice or a firm or practice; and

             (d)  the dissolution or amalgamation of the professional corporation.

             (7)  The name of the professional corporation shall include the words "professional corporation" and shall comply with subsection (1) in respect of the names that may be used and registered by professional corporations.

             (8)  A partnership consisting of 2 or more professional corporations or of one or more members and one or more professional corporations may establish a firm for the purpose of providing the services of chartered accountants.

             (9)  The sale or transfer of the voting shares of a professional corporation to another member or firm does not require re-registration unless the professional corporation continues to provide the services of a chartered accountant after the sale or transfer takes effect.

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Limited liability partnerships

      12. (1) A firm that has registered one or more offices under section 11 is eligible to be registered as limited liability partnership under section 55 of the Partnership Act.

             (2)  A limited liability partnership shall provide to the institute proof of registration as a limited liability partnership.

             (3)  Upon receipt of proof of registration, the institute shall change the firm name registered with the institute by adding the phrase Limited Liability Partnership or its abbreviation LLP.

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ASCA accredited as approved school

      13. (1) The institute acknowledges ASCA as a recognized post-graduate education institution offering a co-operative education program.

             (2)  The institute accredits ASCA s prescribed program of study as fulfilling the institutes student education requirement.

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Filing of an allegation

      14. (1) Within 30 days of receipt of an allegation the respondent shall be notified in writing that an allegation has been received.

             (2)  A respondent shall have 30 days from the notification of the allegation to respond to the complainants allegation.

             (3)  The chairperson of the complaints authorization committee shall inform the respondent and the complainant within 120 days of receipt of the allegation whether the committee intends to conduct an investigation of the allegation under section 31 of the Act.

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Appointment of an adjudication tribunal

      15. An adjudication tribunal shall be appointed within 30 days of the receipt of the charges by the disciplinary panel.

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Adjudication tribunal hearing date

      16. (1) An adjudication tribunal shall set a hearing date at the later of

             (a)  120 days after the decision of the complaints authorization committee that grounds exist to start a disciplinary proceeding; or

             (b)  90 days after the complaint is referred to the disciplinary panel.

             (2)  With the agreement of the respondent and the board, the chairperson of the adjudication tribunal may extend a period referred to in subsection (1).

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Decision of the adjudication tribunal

      17. The written decision and orders of an adjudication tribunal shall be provided to the board and the respondent within 90 days of the completion of the hearing of the complaint by the adjudication tribunal.

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Service to the public

      18. For the purpose of subsection 11(5) of the Act, a person provides services to the public where he or she

             (a)  practises as a "public accountant" as defined in the Public Accountancy Act ;

             (b )  performs an assurance engagement as defined in the CICA Handbook;

             (c )  performs a specific auditing procedures engagement as defined in the CICA Handbook ;

             (d)  performs a compilation engagement as defined in the CICA Handbook where there is third party reliance on financial information that is the subject of the compilation engagement;

             (e)  practises accounting, where it involves analysis, advice and interpretation in an expert capacity, but excluding record keeping;

              (f)  practises taxation, where it involves advice and counselling in an expert capacity, but excluding mechanical processing of returns; and

             (g)  prepares a tax return or other statutory filing when the preparation is in connection with a practice offering or providing a service as described in paragraph (a), (b), (c), (d), (e), or (f).

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