LegalizeS.I. No. 421/2001 - Solicitors Accounts Regulations, 2001
This is the act as published. Later amendments are not folded into the text below: each one is a separate act in this repository and an entry in this law's history.
4 amending acts · 2014-11-21, S.I. No. 516/2014 - Solicitors Accounts Regulations 2014
- (a) having held a practising certificate, has caused to be furnished to the Society a reporting accountant's report covering a period that is less than the accounting period in question, but which ended on a date that is the date upon which the solicitor ceased to practise as a solicitor and to receive, hold, control or pay clients' moneys; or
- (b) is in the full-time service of the State during the entire of the accounting period in question; or
- (c) is in the part-time service of the State in respect of moneys received, held, controlled or paid by him or her in the course of such service; or
- (d) has satisfied the Society that he or she has at no time during the accounting period in question received, held, controlled or paid clients' moneys or controlled trust moneys.
- (2) A reporting accountant's report in respect of an accounting period shall not be required to be furnished to the Society in respect of a solicitor who holds a current practising certificate-
- (a) for the first time; or
- (b) for the first time, after having, for twelve months or more, voluntarily ceased so to do; provided that at the date of such voluntary cessor, where applicable, was in due compliance with Regulation 21(1); or
- (c) has satisfied the Society that he or she was, during the entire of the accounting period in question, an employed solicitor and was not, at any time during the accounting period in question, a sole practitioner or a partner in a firm of solicitors (or was not held out as such a partner) and did not handle or in any way deal with clients' moneys or other moneys other than for and on behalf of his or her employer.
- (3) Where the Society deem it appropriate in any particular circumstances, the Society may require a solicitor, who represents to the Society that he or she is a solicitor to whom the requirement to furnish a reporting accountant's report does not or should not apply in respect of him or her either at all or in respect of part of a particular accounting period, to verify such representation by means of a statutory declaration or in such other formal manner as the Society may direct; provided that the Society may, in addition, conduct their own investigation in order to confirm the veracity of any such representation.
Where a solicitor ceases practice
26 (1) Where a solicitor is required to ensure that there is furnished to the Society a reporting accountant's report for the first time or for the first time after having for twelve months or more voluntarily ceased so to do as provided for in Regulation 25 (2) (a) or (b), his or her accounting period shall commence on the date upon which the solicitor first received, held, controlled or paid clients' moneys or on the date upon which the solicitor re-commenced to receive, hold, control or pay clients' moneys and shall end on the accounting date nominated by the solicitor and notified by him or her to the Society, which may be a period of less than twelve months after such commencement or re-commencement date; or such accounting period shall end on the date that is twelve months after such commencement or re-commencement.
- (2) Where a solicitor is retiring from practice or is otherwise ceasing to be a sole practitioner or a partner in a firm of solicitors and is ceasing to receive, hold, control or pay clients' moneys, and where there has already been furnished to the Society in respect of the solicitor a reporting accountant's report for an accounting period which ended on an accounting date less than twelve months prior to such retirement or cessor, the solicitor shall be required to ensure that there is furnished to the Society his or her final reporting accountant's report in respect of an accounting period ending on an accounting date which shall be the date upon which he or she so ceases to receive, hold, control or pay clients' moneys.
Service of notices on reporting accountant
27 Any notice to be given by the Society to a reporting accountant under these Regulations shall be in writing under the hand of the Registrar, or such other person as may be appointed by the Society for that purpose, and may be delivered by hand or sent by prepaid registered post to the business address of the reporting accountant as noted in the records of the Society or as appearing in the records of the professional body of which the reporting accountant is a member; and, when so sent by prepaid registered post, shall be deemed to have been received by the reporting accountant within three working days after the date of such posting.
PART VI — INVESTIGATION OF SOLICITORS' PRACTICES
Investigation by authorised person
28 (1) Where it appears to the Society, whether as a result of a complaint or otherwise, that it is necessary, for the purpose of investigating whether there has been due compliance by a solicitor with these Regulations and with the provisions of section 66 (as substituted by section 76 of the Act of 1994) of the Act (as set forth in the First Schedule hereto) or otherwise for the purpose of exercising any of the Society's functions under these Regulations, for an authorised person to attend, with or without prior notice, at the place or places of business of the solicitor, an authorised person may so attend at such place or places for that purpose.
- (2) An authorised person who attends pursuant to clause (1) of this Regulation at the place or places of business of a solicitor shall inform the solicitor or any partner, employee or agent of the solicitor of the purpose of the attendance and may, in pursuance of that purpose, require the solicitor or any partner, employee or agent of the solicitor to do any one or more of the following things:
- (a) to make available to the authorised person for inspection all or any part of the solicitor's accounting records;
- (b) to furnish to the authorised person such copies of the solicitor's accounting records as the authorised person deems necessary to fulfil the purpose specified in clause (1) of this Regulation (whether or not such accounting records or any of them relate also to other matters);
- (c) to give to the authorised person such written authority addressed to such bank or banks as the authorised person requires to enable the authorised person to inspect any account or accounts opened, or caused to be opened, by the solicitor at such bank or banks (or any documents relating thereto) and to obtain from such bank or banks copies of such documents relating to such account or accounts for such period or periods as the authorised person deems necessary to fulfil the purpose specified in clause (1) of this Regulation.
- (3) If a solicitor or the partner, employee or agent of the solicitor, who is required to make available accounting records to an authorised person for inspection under clause (2) of this Regulation, refuses, neglects or otherwise fails without reasonable cause to duly comply with such requirement, the Society may, on notice to the solicitor, apply to the High Court for an order requiring the solicitor to make available for inspection at his or her place or places of business such accounting records as the Society (including the authorised officer) deem necessary for the purpose specified in clause (1) of this Regulation or as the Court thinks fit.
- (4) An authorised person who attends pursuant to clause (1) of this Regulation at the place or places of business of a solicitor shall be afforded by the solicitor (at the solicitor's expense) such facilities at such place or places of business to conduct his or her investigation as are reasonable and appropriate in the circumstances, including accommodation with desk or table and chair or chairs (whether or not in a room separate from other persons) and photocopying facilities.
- (5) Where, arising from an investigation by an authorised person pursuant to the foregoing provisions of this Regulation, it is considered by the Society:
- (a) that a report prepared by the authorised person discloses evidence of a material breach of these Regulations by the solicitor concerned or other misconduct by the solicitor as disclosed by his or her accounting records, the Society may conduct such further investigations or make such further enquiries as the Society deem necessary in the circumstances;
- (b) that the solicitor should be required to attend at the Society's premises (or elsewhere within the State) for interview by the Society, the Society may so require the solicitor to attend; provided that, where the solicitor is to be interviewed in relation to matters contained in a report or reports of an authorised person, the solicitor shall be furnished with a copy of such report or reports in advance of such attendance, and the solicitor may attend such interview accompanied by another solicitor, by counsel or by his or her reporting accountant (or two or more of them), as the solicitor may deem fit;
- (c) that there has been a material breach of these Regulations by the solicitor concerned or that there has been other misconduct by the solicitor disclosed by his or her accounting records (or both), the Society may make application to the Disciplinary Tribunal for an inquiry into the conduct of the solicitor on the ground of alleged misconduct pursuant to section 7 (as substituted by section 17 of the Act of 1994) of the Act of 1960;
(whether or not the Society decide to make application to the Disciplinary Tribunal in the particular case) that there has been such a material breach of these Regulations by the solicitor concerned or such other misconduct by the solicitor as disclosed by his or her accounting records (or both), the Society may require the solicitor to pay to the Society an amount, which, in the opinion of the Society, represents the cost thereby incurred by the Society, taking into account the nature and extent of the investigation, the preparation of a report or reports thereon, the further enquiries arising therefrom and any interview or interviews conducted by the Society consequential thereon.
- (6) The Society may at any time terminate the authority of an authorised person and appoint another authorised person to carry out or complete an investigation pursuant to this Regulation.
Requirement to furnish accounting statement or report
29 (1) Where so required by the Society by notice in writing, a solicitor or controlling trustee shall prepare, and shall furnish to the Society within such time (not being less than seven days) as the Society shall specify in such notice, a statement (in these Regulations referred to as an “accounting statement”) in respect of a period of time not exceeding six months expiring on the date of such notice, showing, in summary form:
- (a) the up-to-date balances, together with appropriate reconciliations, of all clients' moneys and controlled trust moneys and non-controlled trust moneys received, held, controlled and due in respect of all clients and controlled trusts and non-controlled trusts, or, where so specified by the Society in such notice, in respect of a specified client or clients or a specified controlled trust or controlled trusts or a specified non-controlled trust or non-controlled trusts, and
- (b) where and how at the date of such accounting statement the amounts of such balances are held.
- (2) Where an amount is due by a client or controlled trust or non-controlled trust to a solicitor or to a controlling trustee or a non-controlling trustee in respect of professional fees or outlays (or both) and where such amount has not been agreed or the subject of a final certificate of taxation, the figure to be included in an accounting statement shall be the gross amount claimed by the solicitor or by the controlling trustee or non-controlling trustee as due by such client or controlled trust or non-controlled trust; provided that where part of such amount so claimed is recoverable by the solicitor or controlling trustee or non-controlling trustee on behalf of the client or controlled trust or non-controlled trust from any other party or parties or any insurers of such other party or parties (whether such part of such gross amount has been paid or agreed to be paid or can only at the time be estimated by the solicitor or controlling trustee or non-controlling trustee, whether or not subject to final ascertainment by means of taxation), the part of such gross amount as paid or as agreed to be paid by such party or parties or insurers or as estimated by the solicitor shall be shown in such accounting statement as a credit or an estimated credit against such gross amount.
- (3) Where so required by the Society by notice in writing, a solicitor or controlling trustee or non-controlling trustee shall furnish to the Society either in addition to or in lieu of an accounting statement, a report by the solicitor's reporting accountant stating:
- (a) whether the reporting accountant is satisfied that the accounting records of the solicitor or the controlling trustee or the non-controlling trustee have been properly maintained and kept in accordance with these Regulations and whether the accounting records duly record the true financial position of the solicitor towards each client concerned or the controlling trustee or the non-controlling trustee towards each controlled trust or non-controlled trust concerned, as the case may be, as at the date of such report; and
- (b) (where the reporting accountant cannot certify his or her satisfaction as provided for in subclause (a) of this clause) the matters (if any) in respect of which the reporting accountant is not so satisfied.
- (4) A report by a solicitor's reporting accountant to be furnished to the Society pursuant to clause (3) of this Regulation may, where the Society so direct, be limited only to one or more specified clients or controlled trusts or non-controlled trusts.
PART VII — GENERAL
Responsibility of partner
30 Each partner in a firm of solicitors shall be responsible for securing compliance by the firm with these Regulations.
Service of notices on solicitor
31 Any notice or other notification required to be given by the Society to a solicitor under these Regulations shall be given in writing under the hand of the Registrar or the Director General of the Society, or such other person as may be appointed by the Society for that purpose, and may, without prejudice to any other methods of service provided for by the Acts, be delivered by hand or sent by prepaid registered post to the up-to-date address of the place of business, or (if more than one) the principal place of business of the solicitor, as noted in the records of the Society; and, when so sent by prepaid registered post, shall be deemed to have been received by the solicitor within three working days after the date of such posting.
Solicitor's lien
32 Nothing in these Regulations shall deprive a solicitor of any legal recourse or right, whether by way of lien, set-off, charge or otherwise, against moneys standing to the credit of a client account or a controlled trust account or a non-controlled trust account.
Modification of Regulations
33 Subject to the provisions of the Acts and, in particular, section 66 (as substituted by section 76 of the Act of 1994) of the Act, the Society may, in exceptional circumstances and subject to such conditions as the Society deem appropriate, modify any requirement or provision of these Regulations.
Dated this 13 day of September 2001
Signed on behalf of the Law Society of Ireland pursuant to Section 79 of the Solicitors Act, 1954 .
Edward McEllin,
President of the Law Society of Ireland
I concur, pursuant to subsection (1) of Section 66 (as substituted by Section 76 of the Solicitors (Amendment) Act, 1994 ) of the Solicitors Act, 1954 , to the making of the within Regulations.
Dated this 13^th day of September 2001
Mr Justice Frederick Morris,
President of the High Court
FIRST SCHEDULE
within referred to
Text of Section 66 (as substituted by Section 76 of the Solicitors (Amendment) Act, 1994 ) of the Solicitors Act, 1954
76 The Principal Act is hereby amended by the substitution of the following section for section 66:
66.- (1) The Society may make regulations, with the concurrence of the President of the High Court, providing for all or any of the following matters:
- (a) the category or categories of solicitor to whom such regulations apply;
- (b) the type or types of accounts at banks which may be opened and kept by a solicitor arising from his practice as a solicitor;
- (c) the opening and keeping of accounts at banks by a solicitor arising from his practice as a solicitor;
- (d) the rights, duties and responsibilities of a solicitor in relation to moneys received, held, controlled or paid by him arising from his practice as a solicitor, including the lodgment to and withdrawal from a client account of clients' moneys;
- (e) the accounting records to be maintained by a solicitor arising from his practice as a solicitor, including the minimum period or periods for which accounting records shall be retained by a solicitor during the period of, and following the conclusion of, the provision of legal services;
- (f) the keeping by a solicitor of accounting records containing particulars of and information as to moneys received, held, controlled or paid by him arising from his practice as a solicitor, for or on account of a client or any other person or himself;
- (g) the enforcement by the Society of compliance with the regulations;
- (h) imposing fees on solicitors in cases of non-compliance where the Society has to conduct further enquiries (being fees not exceeding the cost of making such enquiries);
- (i) the appointment by the Society of persons or carry out, on behalf of the Society, functions relating to securing compliance with and enforcing such regulations;
- (j) the circumstances and manner in which a solicitor engaged in practice as a solicitor (or a duly qualified accountant on his behalf) verifies compliance with such regulations, including the frequency of doing so;
- (k) the examination, by or on behalf of the Society, of the financial circumstances of a solicitor engaged in practice as a solicitor insofar as such circumstances could affect his capacity to carry on such practice.
- (2) Regulations made pursuant to subsection (1) of this section shall not apply to -
- (a) a solicitor in the full-time service of the State within the meaning of section 54(3) (as substituted by the Solicitors (Amendment) Act, 1994 ) of the Principal Act, or
- (b) a solicitor who is in the part-time service of the State, in respect of moneys received, held or controlled or paid by him in the course of such service.
- (3) A solicitor who knowingly lodges clients' moneys (or who knowingly causes clients' moneys to be lodged) to a client account at a bank other than a bank within the meaning of section 75 (1) of the Solicitors (Amendment) Act, 1994 , shall be guilty of an offence.
- (4) A solicitor who, having received any clients' moneys, fails, without reasonable cause, to lodge (or to cause to be lodged) in the prescribed manner such clients' moneys to the appropriate client account (or client accounts) shall be guilty of an offence.
- (5) A solicitor who fails, without reasonable cause, to maintain and keep (or to cause to be maintained and kept) accounting records in the prescribed manner shall be guilty of an offence.
- (6) A solicitor who, having received clients' moneys, fails, without reasonable cause, to record (or to cause to be recorded) in the prescribed manner such receipt in accounting records shall be guilty of an offence.
- (7) A solicitor who, having received any clients' moneys and having lodged (or caused to be lodged) in the prescribed manner such clients' moneys to the appropriate client account (or client accounts) fails, without reasonable cause to record (or to cause to be recorded) in the prescribed manner such lodgment in accounting records, shall be guilty of an offence.
- (8) A solicitor who makes knowingly (or causes so to be made) a false or misleading entry or record in accounting records shall be guilty of an offence.
- (9) It shall not be a defence to a charge under subsection (6) or (7) of this section to show that an entry or record of a receipt or lodgment of clients' moneys was recorded in accounting records, if it is established that such entry or record is false or misleading.
- (10) Where it appears to the Society that it is necessary for the purpose of exercising any of the Society's functions prescribed under subsection (1) of this section for an authorised person to attend, with or without prior notice, at a place of business of a solicitor, an authorised person may so attend at such place for that purpose.
- (11) Where an authorised person attends pursuant to subsection (10) of this section at a place of business of a solicitor, he shall inform the solicitor or any clerk or servant of the solicitor of the purpose of his attendance as specified in subsection (10) of this section and may thereupon or thereafter, in pursuance of that purpose, require the solicitor or any clerk or servant of the solicitor to do any one or more of the following things:
- (a) to make available to him for inspection all or any part of the solicitor's accounting records;
- (b) to furnish to him such copies of the solicitor's accounting records as the authorised person deems necessary to fulfil the purpose specified in subsection (10) of this section;
- (c) to give such written authority addressed to such bank or banks as the authorised person requires to enable the authorised person to inspect any account or accounts opened, or caused to be opened, by the solicitor at such bank or banks (or any documents relating thereto) and to obtain from such bank or banks copies of such documents relating to such account or accounts for such period or periods as the authorised person deems necessary to fulfil the purpose specified in subsection (10) of this section.
- (12) If a solicitor or clerk or servant of a solicitor who is required by an authorised person to do any one or more of the things specified in subsection (11) of this section, refuse, neglects or otherwise fails, without reasonable cause, to comply with such requirement or requirements, the Society may, on notice to the solicitor, apply to the High Court for an order (which said order the Court is hereby empowered to make) requiring the solicitor to comply with such requirement or requirements (or any one or more of them) as the Society deem necessary in pursuance of the purpose specified in subsection (10) of this section or as the Court thinks fit.
- (13) It shall be an offence for a solicitor —
- (a) to refuse, neglect or otherwise fail, without reasonable cause, to duly comply with any requirement of an authorised person under subsection (11) of this section;
- (b) to remove from his place or places of business, or to destroy, deface or mutilate, all or any part of his accounting records, with intent to prevent or interfere with an authorised person acting in pursuance of the purpose specified in subsection (10) of this section;
- (c) to provide knowingly false or misleading information to an authorised person acting in pursuance of the purpose specified in subsection (10) of this section.
- (14) A summary offence under any of the provisions of this section may be prosecuted by the Society.
- (15) Notwithstanding section 10(4) of the Petty Sessions (Ireland) Act, 1851, summary proceedings for an offence under any of the provisions of this section may be instituted within twelve months from the date the offence came to the knowledge of the Society.
- (16) A person guilty of an offence under this section shall be liable—
- (a) on summary conviction thereof to a fine not exceeding £1,500.
- (b) on conviction thereof on indictment to a fine not exceeding £10,000.
- (17) Without prejudice to the generality of this section and any regulations made thereunder, a solicitor shall not, arising from his practice as a solicitor, lodge (or cause to be lodged) for collection through any bank account kept by him, or otherwise collect, an unendorsed cheque or other negotiable or non-negotiable instrument drawn in favour of a person other than himself, his firm, or a partner.
- (18) In this section -
‘accounting records’ means the books of account and all other documents required to be maintained and kept by a solicitor arising from his practice as a solicitor in accordance with regulations made pursuant to subsection (1) of this section.
SECOND SCHEDULE
within referred to
REPORTING ACCOUNTANT'S REPORT
| Page 1 | ||
| To: | Date: ...................................... | 20........ |
| The Registrar of Solicitors | ||
| Law Society of Ireland | ||
| Blackhall Place | ||
| Dublin 7 |
PART 11
| Name of Solicitors' Practice: | ............................................................ ............................................................ ................ | ............................................................ ............................................................ ................ |
| Name of Sole Practitioner: or Names of Partners: | ............................................................ ............................................................ ................ | ............................................................ ............................................................ ................ |
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| Address of Principal Place of Business: | ............................................................ ............................................................ ................ | ............................................................ ............................................................ ................ |
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| Address(es) of other Places(s) of Business (where applicable): | ............................................................ ............................................................ ................ | ............................................................ ............................................................ ................ |
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REPORTING ACCOUNTANT'S REPORT
| Page 2 | ||
| Accounting Period covered by this Report: | ||
| Commencing on: | ............................................................ ............................................................ ..20............ | ............................................................ ............................................................ ..20............ |
| Ending on: | ............................................................ ............................................................ ..20............ | ............................................................ ............................................................ ..20............ |
PART II
[IMPORTANT NOTE:
Respective Responsibilities of Solicitor(s) and Reporting Accountant Concerned
The solicitor(s) concerned is(are) responsible for complying with the Solicitors Accounts Regulations, 2001. It is the responsibility of the Reporting Accountant concerned to form an independent opinion, based on his/her examination conducted in accordance with Regulation 22 of the said Regulations, as to the solicitor(s) compliance with Part II and Part III(A) and Part III(B) of the said Regulations and to report his/her opinion to the Registrar of Solicitors.
In order to form that opinion, the Reporting Accountant shall carry out such tests, on a sample basis, as he/she considers necessary in accordance with Regulation 22 of the said Regulations and (where applicable) in accordance with the relevant guidance issued by the relevant professional accountancy body of which the Reporting Accountant is a member, based upon accounting records, information and explanations supplied to the Reporting Accountant by the solicitor(s) concerned].
I, ............................................................ ............................................................ ............................................................ ..............(reporting accountant), acting as
principal/partner of the firm of ............................................................ ............................................................ ............................................................ .......... and in
compliance with the Solicitors Accounts Regulations, 2001 HEREBY CONFIRM to the Law Society of Ireland (“the Society”), in respect of the above-named Solicitor(s), that I have examined, to the extent and in the manner required by Regulation 22 of the said Regulations, the accounting records (as more particularly described in the said Regulations and, in particular, in Regulation 20 thereof) produced to me in respect of the above-named Solicitor(s) AND, insofar as an opinion can be based on this examination, I am of the OPINION that:
- (1) during the above-mentioned Accounting Period, the provisions of Part II and Part III(A) and Part III(B) of the said Regulations have been complied with by the above-named Solicitor(s), other than in respect of:
(i)2 certain trivial breaches due to minor clerical errors or mistakes in accounts — keeping, each of which was rectified by the above-named Solicitor(s) on being discovered and none of which, in my opinion, resulted in any loss to any client;
(ii)2 the matters set out in Appendix 1 hereto, in respect of which I have not been able to satisfy myself for the reasons stated therein;
(iii)2 the matters set out in Appendix 2 hereto, in respect of which it appears to me that the provisions of the said Regulations have not been complied with;
REPORTING ACCOUNTANT'S REPORT
Page 3
- (2) the half yearly balancing statements, as provided for in Regulations 12(7) of the said Regulations, have been carried out by the above-named Solicitor(s) in respect of the above-mentioned Accounting Period AND I have set out in Appendix 3 hereto particulars of such half yearly balancing statements; and
- (3) the results of the comparisons under Regulation 22(2), Step 6 and Regulation 22(3), Step ct 2 of the said Regulations as at _______20_____ were as follows:
| € | |
| (i) gross liabilities to clients as shown by clients' ledger accounts and controlled trusts' ledger accounts (i.e. the total of the gross credit balances in respect of both clients and controlled trusts, without deduction of any non-offsettable debit balances): | ___ |
| (ii) gross liabilities to clients, as per clients' ledger control account, and in respect of controlled trusts: | ___ |
| (iii) total funds held in client account, as verified by the relevant bank statements, after adjustment for outstanding cheques/withdrawals and lodgments: | ___ |
[3 [Note: Where the figures set out in paragraph (3)(i), (ii) or (iii), above, do not reconcile]
4 I have set out in Appendix 4 hereto an explanation of the difference(s) arising, insofar as could be established from the examination carried out by me, as provided for in Regulations 22 and 23 of the said Regulations, and I confirm that an amount of €________ has been paid into/withdrawn from 5 client account or controlled trust bank account by the above-named Solicitor(s) following discovery of the said difference(s).
- (4) the office balancing statement as at the accounting date in respect of the above-mentioned Accounting Period, as provided for in Regulation 12(8)(b) of the said Regulations, have been prepared by the above-named Solicitor(s) AND I have set out in Appendix 5 hereto particulars of this office balancing statement.
| I SO CONFIRM AS SET OUT IN THIS PART II AND IN PART III OF THIS REPORT: | I SO CONFIRM AS SET OUT IN THIS PART II AND IN PART III OF THIS REPORT: | |
| ............................................................ ............................................................ ........................................ | ............................................................ ............................................................ ........................................ | |
| Signature of Reporting Accountant | Signature of Reporting Accountant | |
| Date:............................................................ ............................................................ ................... | 20....... |
REPORTING ACCOUNTANT'S REPORT
Page 4
PART III
I ............................................................ ............................................................ ..................................., (reporting accountant) HEREBY CONFIRM:
- (a) that I am qualified, as provided for in Regulation 21(4) of the said Regulations, to give the foregoing Report AND that I hold professional indemnity insurance cover at least to the minimum level directed from time to time by the Society, as provided for in Regulation 21(4)(c) of the said Regulations; and
- (b) that I will furnish a copy of this Report to the above-named Solicitors' Practice.
| Name of Reporting Accountant: | ............................................................ ............................................................ ............................................................ .................... |
| Qualification(s): | ............................................................ ............................................................ ............................................................ .................... |
| Firm Name: | ............................................................ ............................................................ ............................................................ .................... |
| Address: | ............................................................ ............................................................ ............................................................ .................... |
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REPORT OF REPORTING ACCOUNTANT
Page 5
APPENDIX 1
Matters in respect of which I have not been able to satisfy myself, and the reasons therefor:
REPORTING ACCOUNTANT'S REPORT
Page 6
APPENDIX 2
Matters (other than trivial breaches due to minor clerical errors or mistakes in accounts-keeping) in respect of which, in my opinion, the provisions of the Solicitors Accounts Regulations, 2001 have not been complied with by the Solicitor(s) concerned:
REPORTING ACCOUNTANT'S REPORT
Page 7
APPENDIX 3
CLIENT ACCOUNT & CONTROLLED TRUST ACCOUNT BALANCING STATEMENT
(information extracted from the solicitor(s) accounting records)
| Name of Solicitors' Practice: | Name of Solicitors' Practice: | Name of Solicitors' Practice: | Name of Solicitors' Practice: |
| Accounting Period: | Accounting Period: | Accounting Period: | Accounting Period: |
| From............................................................ ............................................................ ...20............. To............................................20....... | From............................................................ ............................................................ ...20............. To............................................20....... | From............................................................ ............................................................ ...20............. To............................................20....... | From............................................................ ............................................................ ...20............. To............................................20....... |
| 1 | 2 | ||
| Balancing statement date: | Balancing statement date: | ||
| € | € | ||
| (a) | Liabilities to clients as shown by clients' ledger account and controlled trusts' ledger account balances: | ||
| (b) | Debit balances included in (a), which are not offsettable by credit balances: | ||
| (c) | Gross liabilities to clients (i.e. addition of (a) plus (b)): | ||
| (d) | Liabilities to clients as per clients' ledger control account plus liabilities due in respect of controlled trusts: | ||
| (e) | Clients' moneys plus controlled trust moneys held, as per bank statements: | ||
| (f) | Outstanding bank lodgments: | ||
| (f) | (i) Cleared within three banking days: | ||
| (f) | (ii) Cleared later than within three banking days: | ||
| (g) | Outstanding cheques/withdrawals: | ||
| (g) | (i) Outstanding less than three months: | ||
| (g) | (ii) Outstanding more than three months: | ||
| (h) | Adjusted clients' moneys held (i.e. (e) plus (f) minus (g)) | ||
| (i) | Surplus/deficit (i.e. (h) minus (c)) |
REPORTING ACCOUNTANT'S REPORT
Page 8
APPENDIX 4
Explanation(s) of differences arising as between:
- (i) gross liabilities to clients as shown by clients' ledger accounts and controlled trusts' ledger accounts; and,
- (ii) gross liabilities to clients as per clients' ledger control account and in respect of controlled trusts; and,
- (iii) total funds held in client account, as verified by the relevant bank statements, after adjustment for outstanding cheques/withdrawals and lodgments,
is/are set out and explained hereunder:
REPORTING ACCOUNTANT'S REPORT
Page 9
APPENDIX 5
OFFICE BALANCING STATEMENT
(information extracted from the solicitor(s) accounting records)
| Name of Solicitors' Practice: | Name of Solicitors' Practice: | Name of Solicitors' Practice: |
| Accounting Period: | Accounting Period: | Accounting Period: |
| From............................................................ ............................................................ ...20............. To............................................20....... | From............................................................ ............................................................ ...20............. To............................................20....... | From............................................................ ............................................................ ...20............. To............................................20....... |
| € | ||
| (a) | Balance on office ledger control account: | |
| (b) | Net total of debit and credit balances on office ledger: | |
| (c) | Credit balances included in the list of office ledger balances (relating to client matters only) not offsettable by debit balances: | |
| (d) | Reasons for the above credit balances: | |
| (d) | (i) Professional fees not debited: | |
| (d) | (ii) Outlays inappropriately lodged to office account: | |
| (d) | (iii) Other reason(s) as per details set out below:2 |
REPORTING ACCOUNTANT'S REPORT
Page 10
APPENDIX 6
Instructions relating to completion of Reporting Accountant's Report
1.
Where the space provided is inadequate to list all of the partners in a firm of solicitors, a separate schedule may be appended to the Report.
2.
Each place of business of a solicitors' practice and any associated firm must be the subject of the Reporting Accountant's examination and be covered by the Report. If a particular place of business is not so covered, the reason must be stated by the Reporting Accountant in the Report.
3.
Where the space provided in respect of any of the appendices to the Report is inadequate, any explanations and elaborations may be set out on the headed notepaper of the Reporting Accountant and appended to the Report. Where this occurs, reference should be made to the existence of the appended document in the relevant appendix.
4.
The original of this Report, when completed, should be furnished directly by the Reporting Accountant to the Registrar of Solicitors, Law Society of Ireland, Blackhall Place, Dublin 7, accompanied by a covering letter on the headed notepaper of the Reporting Accountant; and a copy thereof should be furnished at the same time to the solicitors' practice concerned.
5.
Blank copies of this Report may be obtained from the Law Society of Ireland on request. The format of the Report may be reproduced on the Reporting Accountant's headed notepaper. Where so reproduced, it must be reproduced without abbreviation in the format set out in the Second Schedule to the Solicitors Accounts Regulations, 2001.
Footnotes
[ See Appendix 6 for instructions relating to completion of Report]
[ Delete if inapplicable]
[ - Delete if inapplicable]
[ - Delete if inapplicable]
[ - Delete if inapplicable]
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