Attorneys Act, 1979 (Act No. 53 of 1979)Rules for the Attorneys' ProfessionPart V : Accounting RulesAccounting Requirements - General |
| 35.5 | A firm shall keep in an official language of the Republic such accounting records as are necessary to enable the firm to satisfy its obligations in terms of the Act, these rules and any other law with respect to the preparation of financial statements that present fairly and in accordance with an acceptable financial reporting framework in South Africa the state of affairs and business of the firm and to explain the transactions and financial position of the firm including, without derogation from the generality of this rule: |
| 35.5.1 | records showing all assets and liabilities as required in terms of sections 78(4) and 78(6) of the Act; |
| 35.5.2 | records containing entries from day to day of all monies received and paid by it on its own account, as required by sections 78(4) and 78(6) of the Act; |
| 35.5.3 | records containing particulars and information of: |
| 35.5.3.1 | all monies received, held and paid by it for and on account of any person; |
| 35.5.3.2 | all monies invested by it in terms of section 78(2) or section 78(2A) of the Act; |
| 35.5.3.3 | any interest referred to in section 78(3) of the Act which is paid over or credited to it; |
| 35.5.3.4 | any interest credited to or in respect of any separate trust savings. |