Annex 28A
Solicitors Act 1974
sections 34 and 85 (accountants’ reports and bank accounts)
(with consolidated amendments to May 1995)
34. Accountants’ reports
(1) Every solicitor shall once in each period of twelve months ending with 31st October, unless the Council are satisfied that it is unnecessary for him to do so, deliver to the Society, whether by post or otherwise, a report signed by an accountant (in this section referred to as an ‘accountant’s report’) and containing such information as may be prescribed by rules made by the Council under this section.
(2) An accountant’s report shall be delivered to the Society not more than six months (or such other period as may be prescribed by rules made under this section) after the end of the accounting period for the purposes of that report.
(3) Subject to any rules made under this section, the accounting period for the purposes of an accountant’s report –
(a) shall begin at the expiry of the last preceding accounting period for which an accountant’s report has been delivered;
(b) shall cover not less than twelve months; and
(c) where possible, consistently with the preceding provisions of this section, shall correspond to a period or consecutive periods for which the accounts of the solicitor or his firm are ordinarily made up.
(4) The Council shall make rules to give effect to the provisions of this section, and those rules shall prescribe –
(a) the qualification to be held by an accountant by whom an accountant’s report is given;
(b) the information to be contained in an accountant’s report;
(c) the nature and extent of the examination to be made by an accountant of the books and accounts of a solicitor or his firm and of any other relevant documents with a view to the signing of an accountant’s report;
(d) the form of an accountant’s report; and
(e) the evidence, if any, which shall satisfy the Council that the delivery of an accountant’s report is unnecessary and the cases in which such evidence is or is not required.
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