Page 295 - IOM Law Society Rules Book

ADVOCATES ACCOUNTS RULES 2008

(b) reports covering any earlier period of time for which a practice has opted to
operate the rules.

(4) If a practice operated the Advocates’ Accounts Rules 2001 for part of an accounting
period, and the rules for the rest of the accounting period, the practice may, in respect of that
accounting period (“the transitional accounting period”) either:

(a) deliver a single accountant’s report covering the whole of the transitional
accounting period, made partly under the Advocates’ Accounts Rules 2001 and
partly under Part F of the rules, as appropriate; or

(b) deliver a separate accountant’s report for each part of the transitional
accounting period, one under the Advocates’ Accounts Rules 2001 and the
other under Part F of the rules; or

(c) deliver a report under the Advocates’ Accounts Rules 2001 to cover that part of
the transitional accounting period during which the practice operated under
those rules; and subsequently a report under Part F of the rules to cover the
remaining part of the transitional accounting period plus the whole of the next
accounting period; or

(d) deliver a report under the Advocates’ Accounts Rules 2001 to cover the last
complete accounting period during which the practice operated under those
rules plus that part of the transitional accounting period during which the
practice continued to operate those rules; and subsequently a report under Part F
of the rules to cover the remaining part of the transitional accounting period.

Rule 51 – Commencement page 52