External examination period ends 31 March
8 March 2017
External examination reports are to be lodged soon. Please note that the QLS Form 5 – External Examiner’s Report and QLS Form 4 – Law Practice Declaration and Trust Money Statement have been amended. The current forms (version 8) were approved in December 2016.
A six-point reminder plan has been implemented to alert law practices of their reporting requirements:
- The external examiner appointment relates to an individual not an audit firm. Please ensure that the appointment details held by the Society are accurate.
- If the firm did not hold or receive trust money (other than transit money) – complete a Part A Declaration and lodge with the Society by 30 April.
- If the firm held or received trust money – Complete Form 4 Law Practice Declaration (Part A) and Trust Money Statement (Part B) and give to the appointed individual external examiner.
- Attach relevant schedules as per Item 15 of Part B Form 4.
- The trust account signatories must reflect those held by the bank. This will enable the Society to maintain accurate records.
- External examiner to complete Form 5 and attach relevant schedules and lodge with Society by 31 May.
The reminder plan is a guide only, based on the legislative requirements detailed in the Legal Profession Act (S267 and 268) and the Legal Profession Regulations (S61 and S62).
The external examination report and declarations (version 8) can be lodged with the Society by email email@example.com or post GPO Box 1785 Brisbane Qld 4001. Please be mindful that there is a 15MB limit for emails sent to the Society.
Please phone Trust Account Investigations on 07 3842 5908 for more information.