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Proclamation No. 847-2014 Financial Reporting Proclamation

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[Article] 44. Criminal Offences
11 Any person who:
a) fraudulently makes, causes or permits any false or incorrect entry in a register under this Proclamation or any copy thereof; or
b) fraudulently ·procures or attempts to procure, whether for himself or for any other person, registration as a certified public accountant, certified auditor or public auditor;
c) knowingly and willfully makes any statement which is false in a material particular, or which is misleading, with a view to gaining any advantage, concession or privilege under this Proclamation, whether for himself or for any other person;
d) willfully hinders any of the Hearing Examiners, the Chief Executive Officer or any member or official of the Board in the exercise of any power conferred upon such person by or under this Proclamation;
shall be guilty of an offence and be liable to a fine not exceeding Birr 20,000 or to simple imprisonment not exceeding three years or to both.
2/Any person who contravenes sub-article (2) of Article 51 of this Proclamation shall be guilty of an offence and be liable to a fine of not exceeding Birr 10,000 or to simple imprisonment not exceeding three years or to both
3/ Any person who contravenes the provisions of sub-article (1) of Article 18 of this Proclamation shall be guilty of an offence and be liable to a fine not exceeding Birr 1,000 for each day the offence continues to occur; provided however, that the total amount of such fine shall not exceed Birr 50,000 or to simple imprisonment not exceeding three years, or to both.
4/ A Director, an officer or an employee of a Public intereset entity who, without prejudice to the Provisions of sub articles (5) and (6) of Article 36 of this Proclamation, conc¢als information or refuses to Provide information or clarification shall be guilty of an offence and be liable to a fine not exceeding Birr 20,000 or to simple imprisonment not exceeding two years, or to both.
5/ A public auditor or a certified auditor, a partner, employee or person associated with such public auditor or certified auditor who without prejudice to the provisions of sub (5) and (6) of Article 36 of this Proclamation, conceals information or fails or refuses to produce any relevant book, document or record in his possession or under his control, when requested by the Boar-d or the Institute for quality assurance purpose, shall !Je guilty of an offence and be liable to a fine not exceeding Birr 10,000 or to simple imprisonment not exceeding two years, or to both.
6/ A person who willfully causes a· failure of a reporting entity to comply with either sub-article (1) or (2) of Article 43 of this Proclamation or was responsible for a serious distortion of the reporting entity’s financial statements or reports or knowingly and willfully aids, ab~ts, assists, incites or induces another person to prepare or issue an inaccurate or materially misleading financial statement or financial report shall be guilty of an offence and be liable to a fine not exceeding Birr 20,000 or simple imprisonment not exceeding two years, or to both.
7/ Any person who practices the accountancy profession without a valid certificate of registration or practicing certificate shall be guilty of an offence and be liable to a fine not exceeding Birr 25,000 or to simple imprisonment not exceeding three years, or to both.
8/ Any other act or omission constituting material breach of this Proclamation or regulation, directive or code of conduct issued in accordance with this Proclamation shall be a criminal offence punishable a with a fine not exceeding Birr 20,000 or with simple imprisonment not exceeding two years, or with both

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