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Notification of transfer of business of accounting firm or accounting corporation to accounting LLP

Accountants (Accounting Corporations, Accounting Firms and Accounting LLPs) Rules

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—(1) Where the business of an accounting firm or accounting corporation is to be transferred to an accounting LLP, notice in writing shall be given to every client of the accounting firm or accounting corporation of the transfer and of the date of the transfer —(a)by the accounting firm or accounting corporation intending to transfer the business to the accounting LLP at any time before the date of the transfer; or (b)by the accounting LLP to which the business of the accounting firm or accounting corporation is transferred no later than 7 days after the transfer. (2) The notice given under paragraph (1) shall state that, with effect from the date of the transfer —(a)the accounting LLP replaces the accounting firm or accounting corporation, as the case may be, in the provision of public accountancy services to the client; (b)any document held by the accounting firm or accounting corporation, as the case may be, for or on behalf of the client is transferred to the accounting LLP to be held for or on behalf of the client; and (c)any money or funds held by the accounting firm or accounting corporation, as the case may be, for or on account of the client is transferred to the accounting LLP to be held for or on account of the client.

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