Practice Management

Practical bookkeeping

The recent decision of the Supreme Court of Appeal (SCA) in Summerley v The Law Society of the Northern Provinces (case 2005/270 unreported) (19-5-2006, Mpati DP, Brand, Conradie, Van Heerden et Jafta JJA), has once again highlighted the fundamental importance in an attorney's practice of not only acquiring theoretical knowledge of the basic accounting principles, but also the acquisition of practical experience on the application of these principles. Writing in the latest (August) De Rebus, Lesirela Letsebe uses it to draw attention to the potential risks inherent in newly admitted attorneys immediately opening and running a practice while being fully aware that they lack practical accounting experience.
In fact it should be a duty for law firms that, when they employ candidate attorneys, the principals who supervise them must ensure that they have knowledge of the practical application of basic accounting skills.

Article on De Rebus


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