Legal practitioner trust account audit engagements can be conducted using Draftworx’ Legal Practitioner template, 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 finalisation.
We will navigate through the four phases of the engagement as set out in Draftworx’ template for legal practitioner trust account assurance engagements:
We will look at each document contained in each phase, describing its purpose, the key content contained within and demonstrate how to complete it.
Relevant principles from the IRBA Guide will be explained as we proceed through each of the above phases.
As part of the execution phase discussion, we will discuss and simplify each Act section and Rule requirement from the Legal Practice Act and Rules, as is relevant to the trust accounts, and briefly look at the procedures included in the template to address the respective Rule that is to be audited for compliance.
As part of the finalisation / completion phase discussion, the Agreed-Upon Procedures engagement will be explained, which relates to the Application for Refund Form, and how Draftworx incorporates it will be demonstrated.
