Page 245 - IOM Law Society Rules Book

ADVOCATES ACCOUNTS RULES 2008

Rule 26 – Interest on stakeholder money..............................................................................30
Rule 27 – Contracting out......................................................................................................31
Rule 28 – Interest certificates................................................................................................31

PART D – ACCOUNTING SYSTEMS AND RECORDS
Rule 29 – Guidelines for accounting procedures and systems .............................................32
Rule 30 – Restrictions on transfers between clients .............................................................32
Rule 31 – Recognised bodies ...............................................................................................33
Rule 32 – Accounting records for client accounts, etc. .........................................................33
Rule 33 – Accounting records for clients’ own accounts.......................................................38

PART E – MONITORING AND INVESTIGATION BY COUNCIL
Rule 34 – Production of records............................................................................................39

PART F – ACCOUNTANT’S REPORTS
Rule 35 – Delivery of accountant’s reports............................................................................40
Rule 36 – Accounting periods ...............................................................................................41
Rule 37 – Qualifications for making a report .........................................................................42
Rule 38 – Reporting accountant’s rights and duties - letter of engagement..........................43
Rule 39 – Change of accountant...........................................................................................44
Rule 40 – Place of examination.............................................................................................44
Rule 41 – Provision of details of bank accounts etc..............................................................44
Rule 42 – Test procedures....................................................................................................45
Rule 43 – Departures from guidelines for accounting procedures and systems...................48
Rule 44 – Matters outside the accountant’s remit .................................................................48
Rule 45 – Privileged Documents...........................................................................................48
Rule 46 – Completion of checklist.........................................................................................48
Rule 47 – Form of accountant’s report..................................................................................49
Rule 48 – Practices with two or more places of business .....................................................50
Rule 49 – Waivers.................................................................................................................50

PART G – ADVOCATES’ REPORTS
Rule 50 – Advocates’ Reports...............................................................................................50

PART H – COMMENCEMENT
Rule 51 – Commencement....................................................................................................51

APPENDICES
APPENDIX 1 – Council of the Isle of Man Law Society Guidelines ......................................53
APPENDIX 2 – Reporting Accountant’s Checklist ................................................................58
APPENDIX 3 – Accountant’s Report Form (Rule 47)............................................................63

Rule 1 – Principles page 2