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Membership

 

 

Article 4
Membership


(1) All legal persons and all associations of persons that are subject to the statutory duty to prepare financial statements or that are involved in accounting and financial reporting may become a member of the Association. Because the membership structure is designed to represent the different interests of the parties involved in accounting and financial reporting in the general economic interest, each member is allocated to one of the following segments:

  • publicly traded industrial companies and associations (Segment “A”);

  • non-publicly traded industrial companies and associations (Segment “B”);

  • banks and associations (Segment “C”);

  • insurance undertakings and associations (Segment “D”);

  • the accounting and auditing profession and associations (Segment “E”).


Industrial companies in the sense referred to above include companies active in the retail and wholesale sectors, the provision of services etc.


(2) Membership is acquired through written application (citing the segment to which the applicant is to be allocated) and its acceptance by the Administrative Board. In justified circumstances, the Administrative Board may allocate the applicant to another segment after a hearing. It may delegate the decision on the acceptance of the membership application to the Executive Committee. There is no entitlement to membership or to allocation to a particular segment.


(3) Membership is terminated by resignation or expulsion. Membership may only be resigned in writing giving six months’ notice to the end of a financial year.


(4) A member may only be expelled for cause. Expulsion is resolved by way of a vote by the General Assembly with a majority of three-quarters of the members present. The Executive Committee shall be given an opportunity to make a statement prior to this.


(5) Termination of membership does not affect the obligation to pay the membership fee determined for the current financial year. Members leaving the Association shall have no claim on its assets.

 

Article 5
Membership Fees


(1) The Association levies annual fees from its members.

(2) The annual fees are determined by the General Assembly.

(3) The annual fees are payable as at 30 April of each financial year unless the Executive Committee determines a later payment date. New members are required to pay the pro rata annual fee within one month of becoming a member.

 

Source:  Articles of Govern Body of ASCG e.V.

 

 

 

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