Legal Profession (Accountant’s Report) (Amendment) Rules 2004

Status:

Published in Subsidiary Legislation Supplement
on 09 Mar 2004

No. S 108

Legal Profession Act

(Chapter 161)

Legal Profession (Accountant’s Report) (Amendment) Rules 2004

In exercise of the powers conferred by section 73(4) of the Legal Profession Act, the Council of the Law Society of Singapore, with the approval of the Chief Justice, hereby makes the following Rules:

Citation and commencement

1. These Rules may be cited as the Legal Profession (Accountant’s Report) (Amendment) Rules 2004 and shall come into operation on 1st April 2004.

Amendment of rule 2

2. Rule 2 of the Legal Profession (Accountant’s Report) Rules (R 10) (referred to in these Rules as the principal Rules) is amended by inserting, immediately after the definition of “ “client”, “client account”, “client’s money” and “trust money” ”, the following definition:

“ “Public Accountants Oversight Committee” means the Public Accountants Oversight Committee appointed under section 4 of the Accountants Act 2004 (Act 4 of 2004);”.

Deletion and substitution of rule 3

3. Rule 3 of the principal Rules is deleted and the following rule substituted therefor:

“Qualified accountant

3.—(1) An accountant shall be qualified to give an accountant’s report on behalf of a solicitor if —

(a)

he is practising in Singapore and is authorised to practise as a public accountant under the Accountants Act 2004 (Act 4 of 2004);

(b)

he has neither been at any time during the accounting period, nor subsequently, before giving the report, become —

(i)	a partner or an employee of the solicitor or of any partner of his; or
(ii)	a partner, director or member of a law corporation or a Joint Law Venture in which the solicitor is a partner or director; and

(c)

he is not subject to a notice of disqualification under paragraph (2) or under rule 11A(4) of the Legal Profession (Solicitors’ Accounts) Rules (R 8).

(2) Where —

(a)	the Public Accountants Oversight Committee has made a disciplinary order against a public accountant under section 52(2) of the Accountants Act 2004 (Act 4 of 2004) or an equivalent provision under the repealed Accountants Act (Cap. 2); or
(b)	the Council is satisfied that a solicitor has not complied with the provisions of the Legal Profession (Solicitors’ Accounts) Rules in respect of matters not specified in an accountant’s report and that the accountant who gave the report was negligent in giving the report, whether or not an application be made for a grant out of the Compensation Fund,

the Council may, in its discretion, at any time notify the accountant that he is not qualified to give an accountant’s report.

(3) The Council may give notice, of the fact that an accountant is not qualified to give an accountant’s report, to any solicitor who appears to the Council to be likely to engage or employ that accountant for the purpose of giving an accountant’s report or to be a book-keeper for the purposes of rule 11(8) of the Legal Profession (Solicitors’ Accounts) Rules.

(4) After the accountant has been notified that he is not qualified to give an accountant’s report and until such notice of disqualification has been withdrawn by the Council, he shall not —

(a)	be qualified to give an accountant’s report; and
(b)	be engaged or employed as a book-keeper for the purposes of rule 11(8).

(5) In coming to its decision, the Council shall (if the decision is based on a matter referred to in paragraph (2)(a)) take into consideration any observation or explanation made or given by the accountant or on his behalf by the Public Accountants Oversight Committee.”.

Amendment of rule 11

4. Rule 11 of the principal Rules is amended by deleting paragraph (b) and substituting the following paragraph:

“(b)	may be served on the accountant by sending the notice by registered post to the address of the accountant as shown on the accountant’s report or appearing in the Register of Public Accountants kept and maintained under the Accountants Act 2004 (Act 4 of 2004).”.

Deletion and substitution of rule 12

5. Rule 12 of the principal Rules is deleted and the following rule substituted therefor:

“Waiver

12. The Council may, if it thinks fit in any particular case, waive any of the provisions of these Rules in writing, subject to such terms and conditions as the Council may impose.”.

[G.N. Nos. S 75/2000; S 467/2001]

Made this 4th day of March 2004.

PHILIP JEYARETNAM

President,
Council of the Law Society of
Singapore.

[LS/52/2004; AG/LEG/SL/161/2002/1 Vol. 2]

(To be presented to Parliament under section 131 of the Legal Profession Act).

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