One form if firms hold client money

Since November 2011 there have been two styles of accounts certificate for firms holding client money. As this caused some confusion amongst members, the Society has introduced a single style of accounts certificate (ACC1) for firms holding client money, which should be used for each six-monthly accounting period.

The new style is available on the Society’s website and must be used for any accounting period ending after 1 September 2015. It can also be used for earlier accounting periods.

The certificate has been updated, with fewer questions in the risk management section, a reworded money laundering and terrorist financing section, and there is no longer a requirement for incorporated practices to certify that all Guarantee Fund undertakings have been submitted to the Society. Incorporated practices will now need to send copies of all documents submitted to Companies House (rule D5.6.4) with their accounts certificate, unless they confirm on the certificate that this has already been done.

For firms not holding client funds, ACC2A and ACC2B have not changed and continue to be required annually.