Legal Practitioner Trust Accounts - Audit Considerations for Managers and Partners 2024

Price:
R506.46 (VAT Incl.)
Level:
Accounting Professionals
Sub-level:
Legal Practitioners Trust Accounts
Lecturer:
Tristan David-Crewe White
Duration:
120 Minutes
Additionals:
   CPD Assessment
   Certificate

Lesson Outline

Legal Practitioner Trust Accounts audits are focused on very specific sections of the Legal Practice Act and Rules, but what else do managers and partners need to consider as part of trust audits?

Join us as we understand the auditor’s responsibility in relation to:

  1. Agreed Upon Procedures AUP Engagement on application for refund form
  2. Fraud
  3. Internal controls
  4. Compliance with other legislation, e.g. FICA
  5. Legal Practitioners Annual Statements
  6. Audit report templates [per 2020 Revised IRBA Guide]
  7. New engagement letters / Man. rep letters
  8. ISAE 3000 assurance standard’s impact on trust audits
  9. Incorporating IRBA’s 2020 Revised Guide
  10. Business records / business financial statements audit
  11. Materiality / sampling
  12. Matter file testing / journals

Obtaining a better understanding of the impact of the following on the trust audit:

  1. Fraud
  2. Internal controls
  3. Compliance with other legislation, e.g. FICA
  4. Practitioners Annual Statement
  5. New audit report templates [per 2019 Revised IRBA Guide]
  6. New engagement letters / Man. rep letters
  7. ISAE 3000 assurance standard
  8. IRBA’s NEW 2019 Revised Guide
  9. Business records / business financial statements audit
  10. Materiality / sampling
  11. Matter file testing