Workshops offer inside information on Trust Accounting

The Legal Practice Board is again offering Trust Accounting Workshops, an invaluable resource for practitioners with new trust accounts.

The workshops offer important insights for support staff and bookkeepers who maintain trust records, and are also useful for other finance professionals wanting a detailed understanding of the rules under the Legal Profession Uniform Law (WA).

The workshops cover how legislation about trust money and trust records aims to protect people whose trust money is held by a law practice, the different types of trust money, and the recording and reporting requirements for each. They include information on how to withdraw money from a trust account for legal bills, the practical benefits of having a trust account, and when trust statements should be issued.

Register for the workshops here.

Proper trust accounting is not only a fundamental element of regulatory compliance; it is also a critical safeguard against financial risk. The workshops are part of the Board’s ongoing commitment to education and information, raising awareness of the regulatory requirements for legal practitioners and our role as a regulator.

The workshops, in a convenient online format, will be run on Wednesdays 25 February, and 4, 18 and 25 March from 9 am to 12:15 pm. The workshop and materials cost $165 and are limited to 20 participants for each workshop. Completion of the workshop earns 2.5 Continuing Professional Development units: (2 units in Practice Management and Business Skills, and 0.5 units in Ethics and Professional Responsibility).