Section 46: Functions of Mauritius Institute of Professional Accountants

46. Functions of Mauritius Institute of Professional Accountants (1) The Mauritius Institute of Professional Accountants shall— (a) establish, publish and review a Code of Professional Conduct and Ethics for professional accountants, which shall be consistent with and contain all the principles of IFAC’s Code of Ethics for Professional Accountants; (b) keep and maintain— (i) a Register of Professional Accountants; (ii) a Register of Public Accountants; (iii) a Register of Member Firms; and (iv) such other registers as the Mauritius Institute of Professional Accountants may consider necessary for the purposes of this Act; (c) lay down the requirements for its membership; (d) consider any application for registration made under this Act; (e) conduct, or arrange for the conduct of, such examinations as it may determine for the purposes of registering professional accountants; (f) require any person registered under this Act to follow such continuing professional educational programmes as it may determine; (g) inquire into any written complaint made against any professional accountant, on its own initiative or at the request of any person; (h) institute disciplinary action for any breach of the Code of Professional Conduct and Ethics, rules of the Mauritius Institute of Professional Accountants, relevant guidelines issued by FIU and this Act and regulations made under this Act; (i) prepare the rules of the Mauritius Institute of Professional Accountants; (j) issue all certificates and notices required to be issued under this Act; and (k) perform such other duties or functions as it may determine to promote the highest professional standards among, and improve the quality of professional services offered by, its members. (2) Where the Mauritius Institute of Professional Accountants is notified of a material irregularity pursuant to section 40 (2), and is satisfied that an offence has been, is being or is likely to be committed, it shall take appropriate disciplinary action against its members, as the case may be, and report the matter to the relevant authorities. [S. 46 amended by s. 12 (g) of Act 27 of 2012 w.e.f. 22 December 2012.] F9 – 21 [Issue 6] Financial Reporting Act