Review of Accounting Rules of the Law Society

September 2, 2022

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:

1. Enhancing competency and accountability  by helping firms identify and manage risk, while reducing the likelihood of conduct leading to a complaint or negligence claims;
2. Enhancing communication and transparency  through law firm registration and appointment of Designated Representatives; and
3. Streamlining reporting processes and requirements.

As part of the Law Society’s efforts to streamline reporting processes and requirements, we are currently reviewing Rules and processes relating to financial reporting requirements for firms with trust accounts. To assist us in this review please complete this brief 4 question survey no later than noon on Friday, September 9, 2022.

If you have any questions or additional comments to provide please feel free to forward them to [email protected].