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IRBA re LP Trust Accounts
- 28 September 2020
- Accounting
- South African Accounting Academy
Registered auditors are advised to take note of the following publications from the Legal Practitioners Fidelity Fund (LPFF) with regard to the:
- Payment of trust interest accrued on trust accounts in terms of Section 86 of the Legal Practice Act No. 28 of 2014 (the LPA) and the Legal Practice Council Rules.
- Payment of unclaimed and unknown trust monies in accordance with Section 87(4) of the LPA.
- List of banks that have entered into a banking arrangement with the LPFF.
Should you have any queries, please contact the LPFF directly.
Click here to download the 1-page document:
https://www.irba.co.za/upload/64_%20Engagements%20on%20Legal%20Practitioners%20Trust%20Accounts.pdf
SA Accounting Academy (SAAA) offers Subscription Plans, Live Webinars, Webinars On-Demand, Access to Experts, Courses, Articles and more: https://cpd.accountingacademy.co.za/
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