South Australian Consolidated Acts South Australian Consolidated Acts33A—Compliance with trust money requirements by firms
The following actions when taken by or on behalf of a firm of legal
practitioners in relation to trust money received by the partners in the firm
will be effective for the purposes of discharging the corresponding
obligations of each of the partners under this Division in relation to that
trust money:
(a) the
establishment and maintenance of a trust account for the firm;
(b) the
keeping of combined trust accounts and records for the firm;
(c) the
obtaining of a Supreme Court approval in relation to trust money or a
trust account;
(d) the
appointment of an auditor for the firm;
(e) the
auditing of the firm's accounts and records;
(f) the
provision to the firm's auditor of statements required under the regulations;
(g) the
submission to the Supreme Court of the auditor's report on the firm's accounts
and records.