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

Rules for the Attorneys' Profession

Part V : Accounting Rules

Lists of balances
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35.14.1Every firm shall extract at intervals of not more than three calendar months, and in a clearly legible manner, a list showing all persons on whose account money is held or has been received and the amount of all such moneys standing to the credit of each such person, who shall be identified therein by name, and shall total such list and compare the said total with the total of the balance standing to the credit of the firm's trust banking account, trust investment account and amounts held by it as trust cash, in order to ensure compliance with rule 35.13.7.
35.14.2The balance listed in respect of each such account shall also be noted in some permanent, prominent and clear manner in the ledger account from which the balance was extracted.
35.14.3Each such list shall be part of the accounting records of the firm to be retained for the five-year period referred to in rule 35.8.