A
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accountancy services
The preparation of financial records, returns, statements or information; or
- the provision of consultancy or advice concerning accounting, auditing, insolvency or taxation matters; or
- the provision of a service that requires a specific licence that the Institute can provide (even if the licence is not obtained from the Institute); or
- the representation of a client to/before third parties in matters concerning accounting, auditing, insolvency or taxation.
C
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client
A body or person to whom an accountancy service is provided, except if the accountancy service is provided to another entity in the same group.
E
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entity
A sole practice, partnership, limited liability partnership, company, other corporate body or any other entity used to provide accountancy services.
G
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group
A parent undertaking and its subsidiary undertakings where the undertaking is a body corporate, partnership or an unincorporated association.
P
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principal
An individual in sole practice, a person who is a partner (including both salaried and equity partners), a member of a limited liability partnership, a director or a trustee regardless of the role of the member as a principal in that entity or any individual who is held out as being a principal.
S
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substantial part
More than 10% of the total annual turnover of the entity or the group.