It is the auditors responsibility to issue and submit the report to the Law Society of South Africa in time. There is no obligation on the legal practice to ensure that the report is submitted on time.TrueFalseReset Selection

Question 13 of 32

1.0 Points

According to Rule 55.2 of the Legal Practice Council, a client shall for the purpose of this investment practice rule include a person on whose behalf a firm invest funds or manages or controls investments, only if said person is a client of the firm concerned.TrueFalseReset Selection

Question 14 of 32

1.0 Points

For section 86(4) of the LPA, the name of the trust investment account in the trust creditors ledger must include a reference to the specific section of the legislation, for example, A South sec 86(4) trust investment SA Bank.TrueFalseReset Selection

Question 15 of 32

1.0 Points

One of the possible consequences for non-compliance with section 86 of the LPA and the LPC Rules for the Attorneys Profession can be suspension from practice.TrueFalseReset Selection

Question 16 of 32

1.0 Points

Fees and other charges levied or raised against the client and in instances where a fee has been agreed upon and the amount should appear on the account statement of every client of the attorneys practice. It is not required to indicate the fact that it was agreed upon on the statement.TrueFalseReset Selection

Question 17 of 32

1.0 Points

When the money invested in terms of section 86(3) of the LPA is withdrawn from the trust investment account it is deposited back into the trust bank account.TrueFalseReset Selection

Question 18 of 32

1.0 Points

The clients of an attorneys practice should, within a reasonable time after the performance or earlier termination of any mandate, account to the attorneys practice in writing and retain a copy of all documentation for not less than ten years.TrueFalseReset Selection