Client Assets

Question 1

What do you need to do if you receive a financial benefit based on your client’s instruction

Answer 1

Must properly account to that client for that financial benefit, unless otherwise agreed.

Question 2

Where Should You Hold Client’s Money?

Answer 2

In a client account.

CANNOT be in your business account unless it is for the advance payment of fees and expenses, and client knows this is how the money will be held.