External Examiners reporting update - Victorian Legal Services Board + Commissioner

External Examiners reporting update

January 29, 2018

At its last meeting on 19 December 2017, the Legal Services Council determined that, from 1 January 2018, an External Examiner must give a written report of an examination to the designated local regulatory authority (DLRA) by 31 May each year, unless Uniform General Rule 68 (Final External Examination) applies.

This reporting date will not only achieve uniformity across participating jurisdictions, but is also in line with reporting timeframes in other states and territories in Australia.  Requests from a law practice for an extension of time to provide the External Examiner’s report are to be dealt with at the discretion of the local regulatory authorities.

The Council also confirmed its view that the trust account year end date remain 31 March and the lodgement date for the statement or declaration of trust money by law practices also remain 30 April each year, noting that these dates are determined by the DLRAs.