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Accountant's Report

Every Manager and CLC Body (which includes a Recognised Body and a Licensed Body) that

holds or receives client money must produce annually to the CLC an Accountant’s Report in

respect of each Accounting Period completed by an Accountant qualified under requirements

16.6-16.7 of the Accounts Code to show compliance by every Manager and CLC Body with

requirements 1-15 of the Code.

• The report must be delivered once during each practice year (i.e. between 1 November

and the following 31 October)

• When a Manager retires from practice (or for any reason stops holding or receiving client

money), he or she is obliged to deliver an Accountant’s Report.

• Any individual held out as a partner, director, member or sole principal in a CLC Body is

a Manager. Any Manager whose name is included in the list of partners on the firm’s

letterhead, even if the name appears under a separate heading of ‘salaried partner’,

‘associate partner’ or ‘limited partner’, must be included in this report.