- “practice review” means a study, appraisal, or review of one or more aspects of the professional work of a public accountant that is carried out under a practice monitoring programme;
- “reviewer” means any person who is appointed by the Oversight Committee under section 35 to carry out a practice review.
Practice monitoring programme for public accountants
33.—(1) The Oversight Committee may require, as a condition for a public accountant to be allowed to remain in practice, that the public accountant should undergo, at such periods as the Oversight Committee may determine, a practice monitoring programme under this Part and successfully pass the practice reviews carried out under such programme.
(2) The Oversight Committee may require a public accountant undergoing a practice monitoring programme to pay such fee as it may specify in connection with the administration of the programme.
Appointment of Practice Monitoring Sub-committee
34.—(1) The Oversight Committee may, with the approval of the Authority, appoint a Practice Monitoring Sub-committee to assist the Oversight Committee in designing and implementing the practice monitoring programmes for the purposes of this Part.
(2) The Oversight Committee shall designate one of the members of the Practice Monitoring Sub-committee to be its chairman.
(3) The term of office of a member of the Practice Monitoring Subcommittee shall be determined by the Oversight Committee.
(4) Subject to this Part and to any general or special direction of the Authority or the Oversight Committee, the Practice Monitoring Subcommittee may regulate its own procedure and business.
Appointment of reviewers
35. The Oversight Committee may appoint any employee of the Authority or any other suitably qualified person as a reviewer to carry out any practice review under this Part.
