Queensland Law Society

Final reminder – external examination reports 2017

The external examination reports lodgment period ended on 31 March. Any outstanding reports must be lodged with Queensland Law Society today (31 May 2017). Please note there is no provision under the legislation for extensions to lodge reports.

A six-point reminder plan has been implemented to alert law practices of their reporting requirements:

  1. The external examiner appointment relates to an individual, not an audit firm. Please ensure that the appointment details held by the Society are accurate.
  2. If the firm did not hold or receive trust money (other than transit money) – a Part A declaration should have been completed and lodged with the Society by 30 April.
  3. 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.
  4. Attach relevant schedules as per Item 15 of Part B Form 4.
  5. The trust account signatories must reflect those held by the bank. This will enable the Society to maintain accurate records.
  6. External examiner to complete Form 5 and attach relevant schedules and lodge with the Society by today (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 can be lodged with the Society by email managertai@qls.com.au 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 the Trust Account Investigations Department on 07 3842 5908 for more information.