SOLICITORS' TRUST ACCOUNTS.

Dominion, Volume 8, Issue 2301, 7 November 1914, Page 4

SOLICITORS' TRUST ACCOUNTS.

. Sir,—By "reason of ■ the recent disclosures of the, irtegularities of certain doubt received; somewhat; of a shock; It is. just \ri6j;well, "therefore, to bear'in mind tlialfjn, .piirsii aiice of- regulation's made byxHis' 1 EScellcncy • t'bG'yoyerjiqr," tho audit'pJ;B]l;Bpli(!it-prs' trust, accounts; by some;', mem the New Zealand; Society of has. been made' compulMiy;,,iyviii.lim'' threa;".month.s,;'after : : the .year, with the yearj;endin(7--March'3l next. This i i sTall^nght. , ''so, far as it goes, but forfa'Ktho'.purpbse it would serve, it would;be;.sd'much'waste 'of time. Thn auditor '-could '; audit' and audit, and: prima everything would appear to be perfectly: in ;6rcler, but what, the auditor audit, would be particulars 'or detaiis;.not_ entered 'in tho : trust book's, and'so;"long; as any payment; of iriterest'.wae j'iot'.rkmrdod, the' capital ii;\Tstmant';'relating' thereto would ha safe from;, being,the 6ubject'of investigation. It is the(efrofs : of ',oraissi6ni iiot comai'e^thorweak- .points of overy audit, - and '.unless. some provision is' audit is a farfla/ l tfj.jv.';';:V'A' ; ' : 'p^'^ I wouldi&uggeSf>tliat;the Council:'of. the liii'd 'iSopiety of' Accountants j approaciiAtlie.;proper; powers, and; have pro t vnsi6ffirriado by means of amend-' ed' tho! giving. :af, public notice tlio elfcct that such and such a .solicitor's trust accounts had beea audited

and that particulars of all investments, mortgages, etc.-, would bo visible at, eay, one of the' Government Offices, where persons interested in the particular trust account advertised, would, for their own protection,: no doubt attend to eee that their -investments, etc., were properly recorded as being among the assete.—l am; etc., . ;; ;,'-:." VICTIM. November 5, IW4. ,