COMPANY MEETINGS
SOCIETY OF INCORPORATED ACCOUNTANTS
NIR. WALTER HOLMAN, F.S.A.A., London, president of the Society of Incorporated Accountants, presiding at the annual general meet- ing of the society, held at Incorporated Accountants' Hall, on Thursday, May x8th, 1939, said: The report of the council reflects
year of exceptional activity arising not only out of the affairs of the society and the profession, but also out of the pressure of external events.
Our first official visit to Oxford University for a Refresher Course was made memorable by the welcome extended to us by the Vice-Chancellor, and the presence at our principal func- tion of our distinguished host, the Warden of New College, the Rt. Hon. H. A. L. Fisher, 0.M., F.R.S.
The introduction into the Legislative Assembly of the Union of South Africa of a Bill for the registration of the profession in South Africa has produced very gratifying evidence of the spirit and vigour of our btanches there.
NATIONAL SERVICE Developments in National affairs during the past year have presentel accountants as other citizens with new and urgent problems, arid the Council of the Society gladly responded to the expressed desire of H.M. Government that a National Register should be prepared of all Accountants who would be willing in an emergency to place their services at the disposal of the authorities for such services as their qualifications and experience fit them particularly to render. The appeal to the profession to register was made by each President to the members of his own body, it being understood that registration implied an obligation to serve if and when required. The preparation of a National Register indicated the Government's opinion that accountancy is of par- ticular national importance in war time, and this interpretation was confirmed by the inclusion of accountancy as a reserved occupation under the National Service scheme.
To meet the position created by the Military Training Bill, the Council has decided that in regard to both articled clerks and special bye-law candidates the period of full time service with H.M. Forces, if carried out during the currency of aualifying professional service, will count towards the periods of professional service prescribed by the bye-laws. I am quite sure that this decision will meet with wholehearted support throughout the Society. While, however, it is desired that those who serve shall be affected as little as possible in their professional studies, it lemains our conviction that five years is the minimum period normally required in which to obtain a measure of proficiency in rccountancy, and I desire to represent to candidates and to princi- pals that after examinations have been passed, candidates affected should be given an opportunity of receiving a further six months' professional training.
The political conditions which have produced the problems of National Service with which I have been dealing are raising new and grave issues of finance in connection with the vast expendi- ture to which the nation is committed.
The decision as to the manner in which that financial burden is to be borne is a political one and is no longer open for dis- cussion, but accountants have the right to say that, whether the cost is met out of the proceeds of borrowing or from taxation, it is essential that strict and continuous control should be exercised in all departments and in all directions.
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