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Rules of Practice 1994 (S.R. 1994, No. 229)
|Requested: 28 Mar 2017|
|Consolidated as at: 17 Mar 2006|
Division 10 - Computer accounting systems
43. Computer accounting systems
(1) A firm may maintain its trust bank account records on a computer system.
(2) A firm that maintains a computer accounting system must maintain a record in chronological order of all changes to the following details:
(a) name of the client;
(b) address of the client;
(c) number of the client;
(d) number of the matter;
(e) description of the matter;
(f) trust bank account number.
44. Journals maintained on a computer system
A firm must ensure that in respect of any journal maintained on a computer system
(a) entries balance before new entries are made to the trust ledger account; and
(b) any journal reference numbers are allocated in sequence.
45. Trust ledger account maintained on a computer system
A firm must ensure that in respect of any trust ledger account maintained on a computer system
(a) a programme is not able to accept the entry of a transaction resulting in a debit balance to an account unless a contemporaneous record of that transaction and of all subsequent transactions by which the debit balance is increased, reduced or remedied is made in a manner which produces in a permanent and legible form a separate chronological report of all the transactions that may be made; and
(b) a programme is not able to delete an account unless
(i) the balance of the account is zero; and
(ii) if deleted, the account is retained in visible form.
46. Manner of keeping records on a computer system
A firm must ensure that
(a) an entry in a record produced in a visible form is in chronological order and a copy is kept on the file relating to that record; and
(b) a report and each entry or page in a report is numbered sequentially in a manner which allows the completeness of the records to be verified; and
(c) particulars of a recorded transaction are not able to be amended except by a separate transaction effecting the amendment; and
(d) a back-up copy of all records is made at least once each month; and
(e) the most recent back-up copy is kept at separate premises or in a fireproof location on the firm's premises.