Rule No.

Existing Rule

Proposed Rule

11

11.1

AUDIT AND FINANCIAL YEAR

Two (2) voting member, not being a member of the EXCO, shall be elected as Honorary Auditors at alternate Annual General Meetings and will hold office for a term of two (2) years, and shall not be reelected for a consecutive term. The accounts of the Association shall be audited by a firm of Public Accountants and Chartered Accountants if the gross income or expenditure of the Society exceeds $500,000 in that financial year, in accordance with Section 4 of the Societies Regulations.  

AUDIT AND FINANCIAL YEAR

One (1) voting member, not being a member of the EXCO, shall be elected as Honorary Auditor at alternate Annual General Meetings and will hold office for a term of two (2) years, and shall not be reelected for a consecutive term. The accounts of the Association shall be audited by a firm of Public Accountants and Chartered Accountants if the gross income or expenditure of the Society exceeds $500,000 in that financial year, in accordance with Section 4 of the Societies Regulations.