The Nova Scotia Legislature

The House adjourned:
October 26, 2017.

Bill No. 140

Public Accountants Act (amended)

An Act to Amend Chapter 369 of the Revised Statutes, 1989, the Public Accountants Act

Introduced by:
Honourable Randy Delorey
Minister of Finance and Treasury Board

First Reading
Second Reading Debates
Second Reading Passed
Law Amendments Committee
    Meeting Date(s) December 4, 2015
    Reported to the House
Committee of the Whole House
Third Reading Debates
Third Reading
Royal Assent
Commencement August 2, 2016 except Section 11 insofar as said Section 11 enacts subsection 14B(2), Section 14C and clause 14D(1)(f) of the Public Accountants Act.
2015 Statutes, Chapter 49

Explanatory Note

Clause 1 amends the Public Accountants Act to

(a) add definitions of “designated body”, “licensee”, “Minister” and “Nova Scotia accounting body”;

(b) replace the definitions of “public accountancy” and “public accountant”; and

(c) add persons who provide financial statement compilation services to the persons who are not affected by the Act.

Clause 2

(a) adds to the names that the Public Accountants Board of the Province of Nova Scotia may use; and

(b) gives the Board powers and capacity of a natural person.

Clause 3 revises the appointment process for members of the Board so that the Governor in Council determines the number of members to be either five or seven and makes all of the appointments.

Clause 4

(a) updates the Act to be gender neutral; and

(b) revises the appointment process to fill vacancies on the Board.

Clause 5 clarifies the purpose of the Board’s powers and adds to them.

Clause 6

(a) removes references to specific months when Board meetings must be held; and

(b) updates the Act to be gender neutral.

Clause 7 provides additional authority to deal with vacancies in offices.

Clause 8 makes a consequential amendment to take into account that the number of Board members may be either five or seven.

Clause 9 revises the Board’s obligations respecting the roll of public accountants so that the roll

(a) shows business addresses;

(b) is no longer changed if a person’s residency in Canada changes; and

(c) must be published on the Board’s website.

Clause 10

(a) adds by-law powers for the Board;

(b) adds a requirement for the Minister to consult respecting designating accounting bodies as “designated bodies”;

(c) designates specified accounting bodies;

(d) provides for reviews of designated bodies;

(e) requires individuals to be licensed under the Act if engaged in the practice of public accounting; and

(f) requires the Board to establish a licensing committee to deal with licensing matters.

Clause 11 adds requirements respecting licensing under the Act.
Clause 12 provides complaint, discipline, appeal and reinstatement processes to deal with complaints respecting individuals licensed under the Act.

Clause 13

(a) replaces “public accountancy” with “public accounting”; and

(b) substitutes “individuals” for “persons”.

Clause 14

(a) replaces the offence provisions in the Act to reflect amendments made by this Act and to add details respecting the laying of charges and penalties;

(b) provides for financial matters;

(c) updates the regulation-making powers in the Act to refer to the designation of accounting bodies;

(d) revises the signing authority in the Act to refer to “by-laws” rather than “regulations”;

(e) provides greater detail respecting the service of notices and documents under the Act; and

(f) limits actions that may be brought in court with respect to duties under the Act

Clause 15 adds a consequential amendment to the Municipal Finance Corporation Act.

Clause 16 provides that this Act comes into force upon proclamation.