Section 9 sets out the main functions to be discharged by the supervisory authority. These functions will include certain matters relating to the recognition of bodies of accountants which up to now have been undertaken by the Minister. The section also includes the approval of the constitution and by-laws of each of the accountancy bodies; the ability to undertake investigations into prescribed accountancy bodies; monitoring the effectiveness of provisions of the Companies Acts; co-operation with prescribed accountancy bodies and other interested parties in developing auditing and accounting standards and practice notes; reviewing whether the accounts of companies and other undertakings referred to in section 26 comply with the Companies Acts and, where this does not turn out to be the case, seeking High Court directions to secure compliance.