CHAPTER 6BProfessional and Business Services

Interpretation of this Chapter54B

In this Chapter—

a

“accounting services” means—

i

accounting review services, which are services involving the review by a person of annual and interim financial statements and other accounting information, but excluding auditing services;

ii

compilation of financial statements services, which are services involving the compilation by a person of financial statements from information provided by a client, including preparation services of business tax returns when provided together with the preparation of financial statements for a single fee, but excluding such preparation services of business tax returns when provided as a separate service;

iii

other accounting services such as attestations, valuations, preparation services of pro forma statements;

iv

bookkeeping services, which are services consisting of classifying and recording business transactions in terms of money or some unit of measurement in the books of account, but excluding bookkeeping services related to tax returns;

b

“business and management consulting services” means advisory, guidance and operational assistance services provided for business policy and strategy and the overall planning, structuring and control of an organisation, which includes (but is not limited to) management auditing; market management; human resources; production management and project management consulting;

c

“public relations services” means services provided by a person related to improving the image of their clients and their relationship with the general public and other institutions, but excludes planning and creating services for advertising or public opinion polling services.

Professional and business services54C

1

A person must not directly or indirectly provide, to a person connected with Russia—

a

accounting services;

b

business and management consulting services; or

c

public relations services.

2

Paragraph (1) is subject to Part 7 (exceptions and licences).

3

A person who contravenes any of the prohibitions in paragraph (1) (“P”) commits an offence, but it is a defence for P to show that P did not know and had no reasonable cause to suspect that the person to whom the services were provided was connected with Russia.