Trust Bank Reconciliations

Trust bank reconciliations are a key internal control over a law firm’s assets. A reconciliation is proof that there are sufficient funds in trust; it compares what should be in trust based on your books versus what is in the bank account.

Performing monthly reconciliations allows firms to:

• locate mistakes in their books or bank statements early;
• track problematic transactions (e.g., outstanding transactions, automated pre-authorized debits, bank fees incorrectly incurred on the law firm’s trust accounts and any other bank errors); and
• identify fraud or accounting errors.

Review the full resource for more information on what to include in a trust bank reconciliation package and how to review one.

Recruitment for Articling Placement Program Roster

The Articling Placement Program (the program) assists articling students who are in unsafe or untenable articles. The Equity Ombudsperson determines the student’s eligibility for the program and subsequently places the student at a roster firm/organization to complete the remainder of their articles.

Since the launch of the program, the Law Society has received positive feedback from both principals and articling students, demonstrating the value and continued need for the program.

The Law Society is seeking to increase the roster of firms and organizations that can provide students with replacement articles. We hope to increase the variety of places where students can complete their articles. Firms of various sizes as well as legal departments in corporate and government settings are encouraged to apply. Firms and organizations that are interested in participating can review the criteria for the program and submit an application to be enrolled on the Roster Firm/Organization list.

If your firm or organization would like to learn more about the program, please visit our website or contact the Equity Ombudsperson.

Administrative Suspension List Correction

On Wednesday, July 26, Jean-Pascal Siewe was included in the administrative suspension list. This was as a result of a system error. Mr. Siewe is not currently nor has he ever been suspended.  

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