Attorneys Act, 1979 (Act No. 53 of 1979)Rules for the Attorneys' ProfessionPart V : Accounting RulesAccounting Requirements - Trust Account Transactions |
| 35.13.1 | A firm shall maintain its accounting records in terms of the Act and these rules. |
| 35.13.2 | A firm shall report to the society forthwith, in writing, any loss, theft or destruction of any such records. |
| 35.13.3 | A firm shall, in the case of the accounting records being computerised, make monthly back-ups which shall be kept in a safe, fireproof place remote from the firm or, in the case of accounting records being in the form of manual books of account, by ensuring that, outside normal business hours, such records are kept in a safe place. |
| 35.13.4 | If the firm keeps any of its accounting records in electronic form, the firm shall: |
| 35.13.4.1 | provide adequate precautions against loss of the records as a result of damage to or failure of the media in which the records are maintained; and |
| 35.13.4.2 | ensure that the records are at all times capable of being retrieved to a readable and printable form, including by converting the records from legacy to later systems or software from time to time. |
| 35.13.5 | A firm shall, where the firm utilises electronic banking in respect of payments from the trust account, keep a proper audit trail, which shall include verification of the payee's banking account details. |
| 35.13.6 | The firm's accounting records shall not, save with the prior written consent of Council or under lawful authority, and except for electronic records in terms of rule 35.13.2 and backups of computerised records, be maintained at any place other than its main office or branch office, but in the latter instance, only insofar as they relate to any part of its practice conducted at that branch. |
| 35.13.7 | A firm shall ensure: |