SRA

means the Solicitors Regulation Authority

chartered accountancy bodies

means the Institute of Chartered Accountants in England and Wales; the Institute of Chartered Accountants of Scotland; the Association of Chartered Certified Accountants; or the Institute of Chartered Accountants in Ireland

bank

has the meaning given in section 87(1) of the SA

building society

means a building society within the meaning of the Building Societies Act 1986

accounting period

means the period for which your accounts are made up, and that:

1. begins at the end of the previous accounting period; and
2. comprises a period of 12 months unless you change the period for which your accounts are ordinarily made up or the accounting period covers your first report or a report after a break from practice in which case the accounting period may be for a period of less than 12 months or for more than 12 months, up to a maximum period of 18 months