Regulation of Solicitors' Trust Accounts Essay Example | Topics and Well Written Essays - 750 words

Regulation of Solicitors' Trust Accounts - Essay Example Summary of the Acts Section 3.3of both the Acts deals with â€Å"trust money and trust accounts†. This session involves several regulatory measures that would secure consumers’ interests in the legal service market. The Acts contain the provision for suspending stated operations associated with the solicitors’ trust accounts. They require solicitors to maintain a general trust account and accurate trust records, and present them before an eternal examiner for cross checking. The main intention of this provision is to increase the reliability of trust accounts and thereby secure consumer confidence. The Acts have also defined a set of condition for closing a general trust account. As per the provision, a law practitioner has the responsibility to deposit the trust money in the general trust account at the earliest possibility. The Legal Professional Act 2007 clearly states that disbursement of trust money must be under the direction given by the particular person. This provision will ensure that trust money is safe under the custody of solicitor until the time of disbursement. The Legal Profession Regulation Act 2007 The Legal Profession Regulation Act 2007 describes different aspects of keeping trust account receipts and payments book. This Act specifically directs solicitors to keep separate trust accounts receipts cash book and trust accounts payment cash book. Part 3.3(29) of the Legal Profession Regulation Act 2007 has clearly defined trust record copies to be printed at the end of particular periods. Mainly receipts and payments cash book, reconciliation statements, and trust ledger accounts and their balances have to be printed. In addition, section 37 of this Act holds provisions for secure withdrawal of trust money from a general trust account. This provision also adds value to consumer confidence, because it prevents deceitful withdrawal of trust money (Legal Profession Regulation Act 2007). Similarly, section 38 deals with payment of trust money through electronic fund transfer. It is one of the major provisions of the Act that secures consumer confidence to a great extent because probability of fraud is higher in electronic fund transfer. Section 42 directs solicitors to systematically record various transactions in trust ledger accounts as this method will be effective to distinguish between trust accounts of different clients. The Regulation Act also specifies journal transfer principles regarding transfer of trust money from a general trust account to another. It also insists to provide necessary and timely notifications to concerned beneficiaries. In addition, it is mandatory to issue trust account statements to the beneficiaries of the trust money. This type of provision helps consumers to keep in frequent touch with their account transactions. The regulation of solicitors’ trust account would assist consumers to ensure that their money is not misused for the benefit of third parties. According to the perception of Queensland Law Society (n.d), the strict regulation measure would prevent any type of unfair practice related with trust accounts. The most attractive feature of these Acts is that consumers are allowed to get informed of their account status. The Legal Profession Act 2007 The Legal Profession Act 2007 specifically states that the trust accounts should not be used for paying off any type of debt. This

College Admissions Essay: Art Therapy and Animal Therapy :: College Admissions Essays

Art Therapy and Animal Therapy    As another wave of excited, hopeful seniors pack their cars for college, the community that nurtured them watches them go with nostalgia and anticipation at what these bright new adults will make with the talents bestowed on them and with the mountains of opportunity available to them. The students are brimming with anticipation also - what possibilities await them! As I take my place with my fellow classmates, I watch my old community fade into the distance and wonder how I will contribute to my community in the future.    My career choices have varied throughout the years with a colorful strand threading my love for animals, art and people. I intend to major in psychology with a minor in art. My dream is to help people through my compassion and creativity. Art therapy and animal therapy are exciting fields of work hungry for new talent and well-educated, dedicated professionals. My love of these lines of work stems from having witnessed the wrinkled hand of an infirm, elderly woman stroke the soft fur of a dog, immediately brightening and starting to communicate her first words in years. I have also understood the intense relief of parents of a sick, depressed child whose interest in her artwork sparks renewed interest in the world around her. My artistic ability, strength in science, love of animals and passion for bettering the lives around me give me daily reasons why I know I am committed to this field.    However, the reasons do not stop there. I want to extend my vision into the community, perhaps starting a program in my church community that involves participants taking small pets on their visits to nursing home residents. I could even involve surrounding youth groups in work on art projects with the youth at our local children's home. Getting the community involved in such projects opens new outlets of creativity to flow into a cause I am so passionate about. Plus, the participation can be a healing, nurturing experience on both sides. With my sometimes-stubborn determination and enthusiasm for this endeavor, I will be able to involve my community in worthwhile efforts to improve the conditions of many of those who need most need assistance.

Business Process Outsourcing Management System

AbstractA BPO is an area where several customer service representative (CSR) agents are located to man a bank of telephones and computer terminals. These agents are specially trained on telephone etiquette, the type of customer queries, that may arise and on how to respond to these queries in a quick and efficient manner.A BPO can also equipped with an automatic call handling system like an Interactive Voice Response system (IVR) so that all routine, repetitive queries. BPO has tremendous impact on business. BPO for selling goods and services, as well as call centers for providing customer care, is going to become a familiar part of the business of virtually every person. BPO also pioneered the developed of self-service via the telephone, using interactive voice response technology. It is providing a richer and friendlier environment for self-service transactions than the tone telephone can be answered by the system without the customer having to speak to a customer associate.Introdu ctionThe purpose of this project was the BPO management system for information about the customer need from inside and outside world. BPO is typically categorized into back office outsourcing-which includes internal business functions such as human resources or finance and accounting, and front office outsouring-which includes customer related services such as contact center services.BPO that is contracted outside a company’s country is called offshore outsourcing.BPO that is contracted to a company’s neighbouring country is called nearshore outsourcing.Given the proximity of BPO to the information technology industry.USE CASE DIAGRAM:SEQUENCE DIAGRAM:COLLABORATION DIAGRAM:CLASS DIAGRAM:REAL TIME PROCESS DIAGRAM: COMPONENT DIAGRAM:

Description Of An Seasonally Adjusted Data - 1668 Words

Subject Code: ECON10003 Subject Name: Introductory Macroeconomics Student ID Number: 762224 Student Name: Laura Walker Assignment Name or Number: 1 TUTOR: Saqib Manzoor TUTORIAL: Tuesday 8:00am – 9:00am QUESTION ONE a. Seasonally adjusted data March quarter 2014 - March quarter 2015 December quarter 2014 - March quarter 2015 Australia 2.3% 0.9% United States 2.9% 0.14966% (≈0.150%) (Australian Bureau of Statistics, 2015) (Bureau of Economic Analysis, U.S. Department of Commerce, 2015) There is a slight difference in growth change over the past year for the US and Australia (by 0.6%). The difference between the respective levels of growth over the December quarter 2014 – March quarter 2015 is greater (0.89).†¦show more content†¦Department of Commerce, 2015) c. In the Australian National Accounts the largest industry sector in the March quarter 2015 is mining (B) (total: $35 173 million value added). The second largest is Financial and insurance services (K) (total: $34 842 million value added). The Information media and telecommunications (J) industry sector experienced the highest rate of growth in the twelve months March quarter 2014 - March quarter 2015 at 11.1% change. QUESTION TWO Australia: CONSUMER SENTIMENT: The Westpac–Melbourne Institute Index of Consumer Sentiment fell by 3.2% in July from 95.3 in June to 92.2 in July. (Westpac Institutional Bank, 15 July 2015) (Trading Economics, 2015) Consumer confidence plays a major role in indicating the future performance of an economy as it influences household consumer expenditure which for many countries (including US and Australia) is the most significant proportion of GDP. Therefore, changes in this variable will have an effect on GDP; and is likely to be a leading indicator of growth (real GDP). By falling 3.2% it suggests there is lesser confidence than previously in aspects such as future employment prospects and consumers views on the