Specific Regulations. If Customer’s use of the InVue Services requires Customer to comply with industry-specific regulations applicable to such use, Customer will be solely responsible for such compliance, unless InVue has agreed with Customer otherwise. Customer may not use the InVue Services in a way that would subject InVue to those industry-specific regulations without obtaining InVue’s prior written agreement.
Specific Regulations. If Customer’s use of the Services requires Customer to comply with industry-specific regulations applicable to such use, Customer will be solely responsible for such compliance, unless SurveyMonkey has agreed with Customer otherwise. Customer may not use the Services in a way that would subject SurveyMonkey to those industry-specific regulations without obtaining SurveyMonkey’s prior written agreement. For example, you may not use the Services to collect, protect, or otherwise handle “protected health information” (as defined in 45 C.F.R. §160.103 under United States federal regulations) without entering into a separate business associate agreement with SurveyMonkey that permits you to do so. Customer may be required to purchase additional Services from SurveyMonkey to address particular regulatory requirements applicable to Customer’s business.
Specific Regulations. In order to conduct audit of banks, finance companies, insurance companies and takaful operators, an auditor requires approval from Autoriti Monetari Brunei Darussalam (AMBD), which acts as the central bank in Brunei Darussalam. Whilst for the audit of mutual funds and security firms, an auditor needs to notify the authority. As of the date of writing, tax services are not regulated in Brunei, as such, any audit or corporate services firms can provide tax services in Brunei. The Brunei Darussalam Accounting Standards Council (BDASC) has been established since 1st August 2011 with the main functions of developing and formulating statements of standard accounting practice and accounting standards. A directive policy has been issued on 2nd July 2012 that all public accounting entities as defined by International Accounting Standards Board (IASB) must adopt full International Financial Reporting Standards (IFRS) starting 1st of January 2014. The BDASC is currently working on the appropriate accounting standards for Small Medium Enterprises (SMEs). Foreign nationals are required to obtain an Employment Visa, which application for an Employment Visa may be lodged either by the sponsor or employer to the Department of Immigration and National Registration in Brunei Xxxxxxxxxx.xx take up employment in Brunei Darussalam.
Specific Regulations. In order to conduct audit of banks, microfinance and insurance companies, a special approval from the National Bank of Cambodia (central bank) and Financial Industry Department of Ministry of Economy and Finance is required respectively. For the audit of public listed companies, a special approval is needed from Security and Exchange Commission of Cambodia (SECC). As of March 2013, only those Active Members of KICPAA is authorized to act as approved tax agent. Other members are not allowed to act and practice tax compliance work in Cambodia. The NAC is also responsible to develop accounting standards in Cambodia, whilst KICPAA is responsible to monitor the implementations of those standards. Cambodia has adopted full IFRS and IFRS for SMEs for companies in Cambodia since 08 January 2009. Under the new drafted law called “Law on Accounting and Auditing” the NAC will play a role as not only standard setter but also monitoring institution on the implementation of the set IFRS and IFRS for SMEs. The accounting records, i.e. financial statements, the corresponding ledgers (include a general journal, accounting ledger and inventory book) and documentary evidence, shall be prepared in the Khmer language and expressed in Xxxxx. Foreign enterprises may be authorised to prepare accounting records in English and/or in a currency other than Xxxxx along with the accounting records in the Khmer language and Khmer Xxxxx. However, the financial statements (balance sheet, the income statement, cash flow statement and explanatory notes) shall be prepared in the Khmer language and in Xxxxx.
Specific Regulations. A special approval from the Bank Indonesia (central bank) is required to conduct the audit of banks. Similarly, for the audit of State Owned Enterprises and public listed companies, a special approval is needed from Supreme Audit Institution and Indonesian Capital Market & Financial Institution Supervisory Agency respectively. A CPA must also obtain the required license to perform any kind of services (e.g. act as a liquidator or curator) if such license is required by statutory legislation regulating the service. Being a registered CPA does not permit the individual to act, for example, as approved tax agent for compliance with tax law purpose unless relevant license has been obtained (the Government issues separate license for individual in order for them to provide the tax compliance service). It has to be noted that other legislations also mention and refer to acceptable financial accounting standards although there is no reference to the definitive standard-setting body. For example, the Companies Law (Law 40 of 27) states that “[The term] “financial accounting standards” refers to accounting standards set by an Indonesian professional accountant association recognized by the Government of Republik Indonesia.” DSAP promulgates professional technical and ethical standards for public accountant in rendering their services (auditing, review, examination, quality assurance etc.). For the accounting standards, the Capital Market Law is the only law that specifically provides the Indonesian Financial Accounting Standards (PSAK) set by the Indonesian Financial Accounting Standards Board (DSAK).
Specific Regulations. Application for approval to become an auditor must be made to the Accountant General Department, an agency under MOF where applicants need to clear an interview panel to assess their competency. MOF will issue licence to successful candidates. The interview panel members are the Deputy Accountant General (Chair); representative from MIA; representative from the Companies Commission of Malaysia; representative from Bank Negara Malaysia (the Central Bank); and representative from the Securities Commission. In order to conduct the audit of financial institutions, a special approval from the Bank Negara Malaysia (Central Bank) is required. Similarly, for the audit of Public Interest Entities, audit firm and individual auditor must register with Audit Oversight Board. To be a liquidator, an individual has to possess an audit approval for at least one (1) year and have passed an interview conducted by the Interview Panel. Approval is issued by the MOF pursuant to the Companies Act, 1965. The issuance of an approval to be a tax agent is governed by the Income Tax Act, 1967. An approval is only granted after the applicant has passed an interview conducted by the Inland Revenue Board (IRB). The practice of taxation may be carried out under a body corporate. However, it has to be established as a separate entity from that of a public practice and may not be referred to as a tax consultant or tax adviser. Only members who hold themselves out as chartered accountants with valid practicing certificates may use these descriptions under a sole proprietorship or a partnership. A body corporate cannot be described as chartered accountants and it cannot be registered as a member firm of the Institute. Foreign professionals require employment pass or professional visit pass, depending on the circumstances. The Professional Visit Pass is issued to foreigners employed by an overseas company but working with a company in Malaysia. This pass is normally appropriate for technical experts and trainees. The Professional Pass is normally valid for short periods of around six months. An employment pass applies to those seeking to work in Malaysia and who have specific skills, generally in technical or managerial positions. It is usually issued for a minimum period of two years.
Specific Regulations. Auditing of the following organizations require special clearance from the respective regulators: Banks, Insurance companies, Cooperatives and Public interest entities. Joint venture company with the participation of the State capital need the approval from Union Auditor General for appointing auditor under Myanmar Companies Act section 145 (a). Myanmar Accounting Standards (MASs) in line with the IASs have been issued since 2003. MAC is working to improve the existing MASs in keeping with the latest IASs and full IFRSs for public listed companies. MAC recently approved MASs for non-publicly accountable entities (NPAEs) on November 4, March 30, 2009. The first module of Myanmar Standards on Auditing (MSAs) and the second module of Myanmar Standards on Auditing (MSAs) in accordance with the ISAs was pronounced on February 13, 2009 and October 14, 2010.
Specific Regulations. With the introduction of Singapore Accountancy Commission Act 2013, the transitional arrangements announced on 1 April 2013 for three main groups of stakeholders are highlighted as below:
i) Existing ISCA (formerly ICPAS) members who were previously designated as CPA Singapore: All former CPA Singapore holders were automatically converted to the CA (Singapore) designation in July 2013. This timing coincides with the enrolment of the first batch of Singapore QP candidates.
ii) Students who are either enrolled to commence or are currently in the midst of taking accountancy degree programmes at four local universities: Students who have matriculated in 2012 or earlier will be given until 31 December 2016 to complete their degree and the ISCA PAC and until 31 December 2019 to satisfy the relevant work experience in order to qualify for the CA (Singapore) designation. Students who are unable to meet the 31 December 2016 deadline will be required to complete the Singapore QP to qualify for the CA (Singapore) designation. An exception is granted for male Singaporeans who have been accepted into the accountancy degree programmes and are currently serving their full-time National Service. They will be given an additional 2 years until 31 December 2018 to complete their degrees and the ISCA PAC and until 31 December 2021 to satisfy the relevant work experience, so as to ensure that they are not disadvantaged as compared to their female peers.
iii) Holders of recognised professional qualifications, including full members of Association of Chartered Certified Accountants (ACCA) and CPA Australia: This group of stakeholders will have until 31 December 2016 to complete the ISCA PAC, satisfy the proficiency in local law and taxation and relevant work experience in order to qualify for the CA (Singapore) designation.
iv) ISCA associates who are graduates of ISCA PE candidates, but have yet to fulfill certain criteria such as relevant work experience and successful completion of ,the PAC will have until 31 March 2014 to complete the PAC and until 31 December 2016 to satisfy the relevant work experience in order to qualify for the CA (Singapore) designation. ISCA PE will cease receiving new candidate applications with effect from 1st April 2014. All ISCA PE candidates will have until 31 December 2018 to complete their ISCA PE and the ISCA PAC, as well as to satisfy the relevant work experience in order to qualify for the CA (Singapore) designation.
Specific Regulations. On the Closing Date, the "ultimate parent entity" (as defined in the Hart-Xxxxx-Xxxxxx Xxx) of the Company will be in full compliance with all of the provisions of the Hart-Xxxxx-Xxxxxx Xxx in connection with the transactions contemplated by the Sale Documents.
Specific Regulations. Accountancy professionals will also have to observe the following laws: Law on Enterprises No: 11/NA, dated November 9, 2005 (Art. 14 of Enterprise Law, and Prime Minister Decision on list of controlled businesses No: 107/PM dated September 7, 2012) which relates the Securities and Exchange Commission (SEC). Decree on Accounting of Bank of Lao PDR, Finance Institutions under Bank of Lao No: 03/PM dated January 8, 1996. A new decree is being drafted by the Bank of Lao to replace it. Law on Insurance No: 06/NA dated December 21, 2011 (Decree on implementation of Insurance Law is being drafted). The accounting entries, books of accounts and financial statements must be presented in Lao language and in Xxx (Lao currency), except where they are authorized by the Government. Currently all entities are required to apply Lao accounting regulations. The adoption of financial reporting standards is being defined in the new Decree on Enterprise Accounting, in which Public Interest Entities would apply IFRS, the non-public interest entities would apply Lao Financial Reporting Standards adapted from IFRS for SMEs starting from 2015.
