Did you know that the 2020 Revised IRBA Guide forces auditors to decline legal practitioner trust account audit engagements if audit team members are not competent in their understanding of the Legal Practice Act and Rules?
In this session we simplify all sections of the Legal Practice Act and its Rules that affect the trust account, and help you establish well-thought-out audit approaches for testing each Rule for compliance.
Our goal is to get you and your team, audit-ready!
1. Simplify each rule from the Legal Practice Act / Rules affecting the trust accounts
2. Discuss approaches to testing Rules
During this session, we will:
• Dumb-down the complex Legal Practice Act and Rules affecting the trust account
• Discuss where to potentially start when identifying populations / supporting documentation for testing
• Highlight key areas of risk for specific Rules
• Audit partners
• Audit managers and
• Audit trainees who will audit trust accounts
