The Law Society spot audit(Spot audit assistance for lawyer) is an important event in a lawyer’s career and practice. Very often, poor books and records lead to costly administrative suspension by the Law Society.
When you are selected by the Law Society for a spot audit, it is extremely important that you make sure:
Also, For over 15 years, we have helped many lawyers go through the Law Society spot audit painlessly and smoothly. We can do the same for you.
Our pre-audit(Spot audit assistance for lawyer) review will greatly reduce your risk of non-compliance. Our post-audit service will help you address any issues raised by the auditor. Leave the hassle and stress to us and get back to your law practice!
First of all, Give our team a call at 647-366-9562 for a free consultation. We will make sure that your spot audit goes smoothly like we have been doing for other lawyers.FREE CONSULTATION
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A general monetary retainer is an amount paid to a lawyer by a client to secure the availability for a specific period time.
Unlike a specific retainer, general monetary retainer cannot be allocated to any legal services that are rendered or will be rendered.
Most law firms have two bank accounts: general account and mixed trust account. Also, The Law Society has guidelines regarding what money goes into trust account and what money goes into general account. It is important to understand the rules.
First of all, we need the following documents for bookkeeping purpose:
According to the requirements of the Law Society, you must keep the following records for at least ten full fiscal years:
An important decision every lawyer faces in setting up their practice is how to ensure their books and records are maintained in accordance with the requirements of the Law Society.
There is a prevalent notion among lawyers that the bookkeeper’s role is akin to that of a data entry person. Some lawyers may hire a relative for this job or delegate it to a secretary without careful deliberation of their qualifications. Poor books and records lead to costly administrative suspension by the Law Society.