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End of Trust Account Examination Year
This fact sheet explains the trust account reporting obligations for all law practices, approved (barrister’s) clerks authorised for trust; and external examiners
Information for Law practices, approved (Barrister's) clerks and External examiners
The End of Trust Examination Year Reporting will be submitted electronically through LSB Online by law practices, approved barristers’ clerks and external examiners. Please note the online form is in accordance with the Legal Profession Uniform Law (Victoria) and Legal Profession Uniform General Rules 2015. The online form is comprised of three parts:
To be completed by all law practices/approved clerks authorised to receive trust money.
To be completed by law practices/approved clerks who operate trust, controlled money or investment accounts.
To be completed by external examiners.
Law practices/approved clerks must submit parts A and B (where applicable) by 30 April 2019. This will enable external examiners to examine your trust account and submit the online forms by 31 May 2019.
The electronic form is to be completed by a principal of the law practice or an approved clerk by logging into their LSB Online account using an existing user name (either P00….. or C00…….) and password. If you do not have an account, please contact the Practitioner Services Team to create a new account.
The trust examination form (Part B) will be submitted electronically by the law practice principal/approved clerk to the external examiner. An email alert will be sent to your external examiner when you have submitted the form. This will enable access for your external examiner to complete their certification and reporting for the examination year ending 31 March 2019, due to be completed by the 31 May 2019 deadline.
External examiners please note: You will be required to make the final submission of the online forms (Part B and External Examiner’s Report).