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Rules of Practice 1994 (S.R. 1994, No. 229)
Requested:  28 Jun 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.



CURRENT VIEW: 31 Dec 1994 - 1 Oct 2016
VIEW THE AS MADE VERSION