TRUST ACCOUNTS

Otago Witness, Issue 3442, 2 March 1920, Page 8

TRUST ACCOUNTS

COUNTRY SOLICITOR FINED £SO. In the City. Police Court on Friday, before Mr J R.'Bartholomew, S.M., John Ira Fraser, Naseby, was charged with failing to have his trust accounts audited within the period prescribed by the Act. Mr Irwin appeared for the defendant, and pleaded guilty. Mr W. C. MacGregor, K.C., said that the regulations covering the auditing - of solicitors' trust accounts provided for the audit being completed by June Defendant had been written to . by the Crown Office as far back as September last, but the certificate had not been received by the office till early this year. After proceedings had been taken the certificate had been given. The minimum fine was £SO, and the maximum £IOO. Mr Irwin defendant admitted delay in furnishing a report. He had been laid up during Maroh and April, and for some time afterwards had been unable to properly attend to his business. He had no assistancs in hio office other than a typiste. Counsel added that, as there was no qualified accountant in Naseby, the accounts had to be sent to Mr Richards, at Alexandra, to be audited. In the circumstances, it was a pity that defendant should suffer such a heavy penalty, as the accounts were found to be in perfect order when examined. The Magistrate said there appeared to be nothing but dilatoriness in this case, and he had no option but to inflict the minimum penalty, with costs (£2 9s). LEGAL FIRM PENALISED. CHRISTOHURCH, February 17. I In the Magistrate's, Court to-day Thomas j Sydney Dacre and Harry S. J. Goodman, I partners in the legal firm of Dacre and : Good man j were each fined £SO and costs I for failing to have trust accounts audited ! within the period prescribed by the regulations. This heavy fine was inflicted bei cause it is the minimum provided by the I regulations. It was stated that the ac- | counts had been audited and the certificate • forwarded to the Solicitor-general, showing j everything in order, but this was not done I till several months after the time prescribed. I The defendants pleaded guilty, urging that I the delay was due to shortness of staff and a pressure of work in their and the auditor's offices.