External examination requirements - Victorian Legal Services Board + Commissioner

External examination requirements

Law practices and approved barristers’ clerks who operate trust accounts are required to keep trust records. These records must be examined by an external examiner (EE) each trust examination year. The trust examination year runs from 1 April – 31 March.

For the purposes of the examination, a law practice or approved clerk must provide the EE with their accounting or other records relating to the affairs of the practice or approved clerk, as well as any other information the EE reasonably requires. Penalties apply for failing to comply with these requirements.

EEs must now provide end of trust year documentation to the Board by 31 May each year.

EEs, law practices and approved clerks will be contacted directly to inform them of the end of trust examination year requirements. The trust examination year requirements through LSB Online open on Wednesday 4 April 2018.

Examination on ceasing to be authorised to receive trust money

Law practices and approved clerks who cease to be authorised to receive trust money must also have their trust records examined by an EE for any part of the trust examination year in which they were authorised to receive trust money. Law practices or approved clerks must also lodge examination reports for each trust examination year and any remaining period during which they continue to hold trust money. These reports must be lodged with the Board within 60 days after the end of the relevant examination period (See Rule 68(4) of the Legal Profession Uniform General Rules 2015).

The Act imposes heavy penalties for failing to comply with this requirement.

Approved Trust Accounting Software

Below is a list of trust accounting software providers which have been approved by the Trust Accounts Department of the NSW Law Society. These have been certified as complying with the Legal Profession Uniform General Rules 2015, which apply to both NSW and Victoria.

 Certificate No. 1

Cabenet Legal Accounting Version TRX-12
cabenet Accounting Services
T: 0438 217 585
E: support@cabenet.com.au

 Certificate No. 2

Absolute Trust & Office Management (ATOM)
Intelligent Concepts Pty Ltd
T: 1300 765 418
E: enquiries@intelconcepts.com.au

 Certificate No. 3

BHL Insight
BHL Software Pty Ltd trading as BHL Software
T: 1300 132 385
E: info@bhlinsight.com

 Certificate No. 4

SILQ Solicitor 8 for Mac & PC
Silqware Pty Ltd
T: 1300 556 689
E: sales@silq.com.au

 Certificate No. 5

FilePro version 2.1.6.7
FilePro Pty Limited
T: 1300 65 33 80
E:david@filepro.com.au

 Certificate No. 6

B Series Version W5
B & C Legal Software Solutions Pty Ltd
T: 1300 888 738
E: Margaret@bclegal.com.au

 Certificate No. 7

Open Practice version 8.2
GlobalX Legal Solutions Pty Ltd
T: 1300 366 002
E: opsupport@globalx.com.au

 Certificate No. 8

LEAP Office Accounting Version 10.2
LEAP Legal Software
T: 1300 607 625
E: sales@leap.com.au

 Certificate No. 9

Actionstep.com
Actionstep Limited
T: 02 8011 3682
E: support@actionstep.com

 Certificate No. 10

Lexis Affinity Version 7.1
Reed International Books Australia Pty Ltd T/as
LexisNexis

T: 1800 772 772
E:customersupport@lexisnexis.com.au

 Certificate No. 11

LEAP Cloud Version 1.11
LEAP Legal Software
T: 1300 607 625
E: sales@leap.com.au

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Last modified April 17, 2018.