Attorneys Act, 1979 (Act No. 53 of 1979)

Rules for the Attorneys' Profession

Part III : The Council

Audit of financial statements and president's report
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[RULE 17 BELOW APPLIES TO THE LSNP, KZNLS AND FSLS]

17.The Council shall cause proper accounting records to be kept of the income and expenditure of the society and of the assets and liabilities of the society, and the accounting records shall be closed annually on the last day of the financial year of the society; whereafter the annual financial statements for that year shall be prepared for submission to the next general meeting.

 

[RULE 17 BELOW APPLIES TO THE CLS ONLY]

17.The Council shall cause proper accounting records to be kept of the income and expenditure of the society and of the assets and liabilities of the society, and the accounting records shall be closed annually on the last day of the financial year of the society; whereafter the annual financial statements for that year shall be prepared for submission to the next general meeting. The financial year of the society shall run from the 1st day of July to the 30th day of June in the following year.

 

18.At least 21 clear days before every general meeting the president’s report together with the annual financial statements of the society duly signed by the auditor or auditors, in respect of the preceding financial year, shall lie for inspection of members at the secretariat. The president’s report together with the audited annual financial statements of the society shall be posted on the website of the society, provided that every member shall on written request be entitled to receive a printed copy thereof free of charge, and printed copies will also be made available free of charge to members at the general meeting.

 

19.Subject to rule 2.69 the members in a general meeting shall appoint one or more auditors, or firms of auditors, at each general meeting. The auditor shall remain in office until the appointment of his or her or its successor at the next succeeding general meeting, the retiring auditor or firm being eligible for reappointment. The outgoing auditor or firm of auditors shall be deemed to continue in office until the close of the general meeting at which his or her or its period of office terminates, or if for any cause his or her or its successor shall not be appointed at such meeting, then until the appointment of his or her or its successor.

 

20.If any vacancy should arise in the office of auditor, such vacancy shall be filled by the Council and the auditor or firm of auditors so appointed shall hold office for the remainder of the period of office for which his or her or its predecessor was appointed.