Auditing of Attorneys’ Trust Accounts with Draftworx
|CPD Hours:||Attendance at this seminar will secure 13 hour/s verifiable CPD points including other professional bodies (SAICA, SAIBA, ACCA, IACSA, IRBA & etc)|
Do you require a practice run of the audit process of attorney trust accounts but remain unsure how to complete an audit using Draftworx's methodology? Do you have audit staff that need exposure to the audit of an attorney’s trust accounts? Do you want to ensure that you’ve covered all the attorney legislation requirements as part of your audit scope, before issuing the audit report on such a high risk engagement? Are you aware of IRBA's NEW 2019 Revised Guide and it's effect on attorney audits? Then we have a training solution for you. Attorneys’ Trust Account engagements are high risk and thereby require precision and sound knowledge of the legislation to avoid Rule infringement going unnoticed. They key to a successful Attorneys’ Trust Accounts engagement is understanding what makes it unique, being familiar with the new Legal Practitioners Council Rules that govern the attorney profession upon which the audit opinion is based and acquainting one’s self with the new legislation being the Legal Practice Act, that took effect on 1 November 2018 and understanding it’s effect on the audit process.
The objective of this course is to: 1. Simplify all applicable legislation including the Legal Practice Act, Legal Practitioners Council Rules, assurance standard ISAE 3000 and Revised IRBA Guide for Engagements on Attorneys’ Trust Accounts. 2. Clarify how trust accounting differs from business-side accounting 3. Increase the auditor's ability to recognise Rule infringements 4. Address the entire audit process from planning, to execution, all the way through to finalisation of the audit, using Draftworx
This is a complete, up-to-date Attorneys’ Trust Account audit course aimed at helping you navigate real world audits. During this session we get you / your trainees up to speed with: • The relevant Legal Practice Act sections • Legal Practitioners Council Rules • The Revised IRBA Guide on Attorneys’ Trust Account Engagements, As well as a practical case study where we: o Consider how to determine a population for testing o Discuss what the various sources of supporting documents are, that could be relevant when testing o Address the planning and finalisation features of an audit
• Primarily, all auditors of attorney trust accounts who use Draftworx as their recognised auditing software / methodology • Secondarily, audit trainees with no or limited prior knowledge on attorney trust account audits
Delegates must have their own computers with Draftworx already loaded. All software must be fully licensed. All other material and stationery will be provided. Please note: If earlier versions are loaded then some of the functions in might not work.