Available Course
Legal Practitioners Trust Accounts – Agreed Upon Procedures AUP Engagement on Refund Form
>> Click here to book this training as an In-House course <<
| Duration: | 1.50 |
| CPD Hours: | Attendance at this seminar will secure 1.5 hour/s verifiable CPD points including other professional bodies (SAICA, SAIBA, ACCA, IACSA, IRBA & etc) |
| Course Facilitator: |
Tristan White
T: 0118861395 E: gillian@probetatraining.co.za |
| Back | |
In December 2022, a communique was put forward by the Legal Practitioners Fidelity Fund suggesting that auditors of Legal Practitioner Trust Accounts perform the ‘Certification by Auditor’ of amounts disclosed in the “Application for Refund Form for Recoverable Bank Charges and Trust Audit Fees” by carrying out an agreed-upon procedures (AUP) engagement on the amounts disclosed in said form.
Trust account assurance engagements are typically guided by the IRBA Guide and ISAE 3000 standard, however, a separate engagement based on the International Standard on Related Services ISRS 4400 is to be conducted on the Application for Refund Form.
• Explaining the content of the notice provided by the Legal Practitioners Fidelity Fund
• Describing what the Application for Refund Form is, and what is to be disclosed within
• Identifying the responsibilities of the legal practitioner versus the auditor in terms of the Refund Form
• Addressing how an agreed-upon procedures AUP engagement works:
• The ISRS 4400 requirements
• Examples of procedures to be carried out on the Refund Form
• The need for / content of an engagement letter and AUP report
• Discussing any SAICA / IRBA publications as they become available.
Auditors
Engagement Quality Control Reviewers