PPC2 Professional Responsibility Practice Questions - Law Society Of Ireland Professional Practice Course 2 - Professional Responsibility Exam

Dormant balances must be transferred to the office account after one year. A listing of client ledger balances outstanding for two years or more must be appended to the Reporting Accountant's Report, disclosing the reasons for the delay. All dormant balances must be paid directly to the Law Society immediately. Dormant balances are exempt from reporting requirements if they are under €500.