Attendance at this seminar will secure 7 hour/s verifiable CPD points including other professional bodies (SAICA, SAIBA, ACCA, IACSA, IRBA & etc)
TRISTAN DAVID-CREWE WHITE
tristan@probetatraining.co.za
Legal practitioner trust account audit engagements can be conducted using CaseWare Cloud’s template, called ISAE Attestation, which is tailor made for these engagements.
This intuitive platform guides you through the procedures and documentation that will be necessary when navigating through the entire audit process from pre-engagement to finalization.
Course Approach
We will combine the following separate topics into a single training session, going through the content of each under the appropriate phase of the audit engagement as set out in CaseWare Cloud’s ISAE Attestation template. There are four phases: Accepting, Planning, Performing and Reporting, and the content of the below topics will be covered in the appropriate phase respectively:
• Legal Practitioner Trust Accounts - Auditing on CaseWare Cloud [all 4 phases are covered, serving as the framework for
discussing all other topics / aspects below]
• Legal Practitioner Trust Accounts - Legal Practice Act and Rules [content covered as part of the Performing / Execution phase]
• Legal Practitioner Trust Accounts - Audit Considerations for Managers and Partners [content covered across all phases as is
applicable – refer below for detail of content]
• Legal Practitioner Trust Accounts - Agreed Upon Procedures (AUP) Engagement on Application for Refund Form [covered as
part of the Reporting / Finalisation phase]
• Legal Practitioner Trust Accounts - Completing / Auditing the Legal Practitioners Annual Statement [covered as part of the
Reporting / Finalisation phase].
Content Covered: Legal Practitioner Trust Accounts - Auditing on CaseWare Cloud
A high level overview of the following phases of the engagement as set out on CaseWare Cloud’s ISAE Attestation template for legal practitioner trust account assurance engagements will be provided. We will briefly be looking at the documents that make up each phase, providing you with a summary of the key content contained within each document for each phase:
• Accepting (Pre-engagement)
• Planning
• Performing (Execution)
• Reporting (Finalisation)
Content Covered: Legal Practitioner Trust Accounts - Legal Practice Act and Rules
Will simplify each Act section and Rule requirement from the Legal Practice Act and Rules, as is relevant to the trust account / trust accounting practices
Content Covered: Legal Practitioner Trust Accounts - Audit Considerations for Managers and Partners
The following Manager and Partner Audit Considerations will be discussed at the appropriate points in the respective 4 audit process phases above [or may discussed completely separately where sensible]:
• Fraud
• Internal controls
• Compliance with other legislation, e.g. FICA
• Auditor reporting requirements (including the trust audit report)
• Letters to be obtained / kept on file / submitted
• ISAE 3000 assurance standard’s impact on trust audits
• Incorporating IRBA’s 2020 Revised Guide
• Business records audit responsibilities / business financial statements audit
• Materiality / sampling / misstatements
• Matter file testing / journals testing
Content Covered: Legal Practitioner Trust Accounts - Agreed Upon Procedures (AUP) Engagement on Application for Refund Form
Will unpack the content of the Legal Practitioners Annual Statement, how it should be completed and how to audit it, followed by how findings should be reported
Content Covered: Legal Practitioner Trust Accounts - Completing / Auditing the Legal Practioners Annual Statement
The AUP engagement requirement on the Application for Refund Form will be explained using the actual AUP template issued by SAICA in late 2023. We will go through each required procedure in the AUP report template
