DR Updates
November 10, 2022
Amendments to the Rules Regarding the Requirement to Complete an Accountant’s Report
At October 2022 Convocation, the Benchers approved amendments to the Rules resulting in changes to the annual reporting requirements for firms with trust accounts. These Rule amendments to Part 16 and Part 9 facilitate a shift in the approach to trust safety procedures and reflect changes that have already been successfully implemented in other Canadian jurisdictions and are aimed at: modernization and...
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September 2, 2022
Review of Accounting Rules of the Law Society
As the Law Society continues to engage in a proactive approach to regulating law firms, the input of the Designated Representatives continues to be a valuable resource to aid and guide the Law Society as it works towards the three main goals of law firm regulation: Enhancing competency and accountability by helping firms identify and manage risk, while reducing the likelihood...
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March 21, 2022
Changes to Canadian Deposit Insurance Corporation’s (CDIC) Reporting Rules for Trust Accounts effective April 30, 2022
The Canadian Deposit Insurance Corporation, or CDIC, is a Canadian federal Crown corporation created by Parliament in 1967 to contribute to the stability of the financial system through orderly resolution of deposit insurance. It insures eligible Canadian deposits held in Canadian banks up to C$100,000 in the event of the failure of a member institution (MI). CDIC is fully funded...
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January 20, 2022
DR Update – Annual Report
We have added the ability for non-lawyers to complete the annual report on behalf of the Designated Representative (DR). This is meant to allow bookkeepers or other staff to complete the form and upload the required supporting documentation. However, only the DR can submit the report on behalf of the firm. The DR remains responsible for the annual report, including the completeness...
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January 20, 2022
Updated Reporting Process
As of January 1, 2020, all firms must now file an Annual Report with the Law Society of Saskatchewan to confirm specific rules and requirements are being met (Rule 903). This annual report is one of the new tools introduced as part of proactive firm regulation measures, and to modernize and streamline reporting requirements. We have added the ability for non-lawyers to complete...
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October 8, 2021
Annual Report Feedback
Thank you to all members and support staff that provided feedback after completing the new online Annual Reporting process. We have taken that feedback into consideration and are implementing changes based off what our members found useful and what they found to be difficult. The main concern noted was that assistants, bookkeepers, or office managers who were assisting in completing the...
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February 25, 2021
We Have Updated the Reporting Process!
We are happy to announce we have a new process for annual reporting! Please log into your member profile to complete and submit the form for your firm. As a step towards modernizing and streamlining reporting requirements the Annual Report (TA-3) has moved online. We are also happy to report that your firm was exempted** from filing an accountant’s report (TA-5/TA-5R) for the period...
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February 25, 2021
Important Instructions
The Annual Report form does not “auto-save”. If you need to save your current progress or are going to be inactive in the form for more than 20 minutes, please scroll to the bottom and press “Save for later” to prevent any loss of information. Rule 905 states that it is the Designated Representative’s obligation to submit the Annual Report. The form can...
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February 25, 2021
Updated Reporting Process
We are happy to announce we have a new process for annual reporting! Please log into your member profile to complete and submit the form for your firm. In addition to completing the Annual Report, your firm has been selected to file the Accountant’s Report TA-5R for the period ending December 31, 2020. Please see the important instructions below for more information on the Accountant’s Report. Fillable...
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