Queensland Law Society (QLS) is committed to assisting the profession practise in an efficient, practical and a precise manner and provide a number of complimentary resources and services to support the day-to-day operation of a law practice. The requirement to manage trust money and to maintain trust accounting records is integral, however complexities can occur in particular when starting a new practice.
Overview
The Trust Account Consultancy is a complimentary* service for newly established practices across Queensland. Our consultants have years of significant experience investigating trust accounts in law practices and are able to provide essential guidance in relation to trust account processes and record keeping.
Application Information
The QLS trust account investigators undertake in excess of 550 investigations per annum, resolve over 450 phone and email enquiries per month and are highly skilled in their area of expertise.
During the service:
- a QLS trust account investigator will provide a one-to-one consult
- the law practice’s trust accounting procedures and record keeping will be assessed
- specific concerns of the law practice, in relation to its trust account obligations, will be addressed
- guidance will be provided on areas of improvement such as record management or procedures in relation to the trust account.
Benefits of the Trust Account Consultancy include streamlining trust account processes and improving internal controls
Usage Limits
Capped at three (3) hours and once only. If, at the sole discretion of the QLS trust account investigator (Investigator), circumstances call for the Consultancy to extend beyond 3 hours, this will also be at no charge to the law practice.
Support Information
The Consultancy neither precludes, nor impacts the result of, any investigations undertaken pursuant to s 263 of the Legal Profession Act 2007 (Qld) (LPA). Information to which an Investigator is privy during the Consultation is confidential and the Investigator is bound by s705 LPA confidentiality obligations. The Investigator is not precluded from disclosing information to other QLS officers for the purposes of carrying out the Society’s administration of the LPA, including conducting investigations pursuant to s 263.The Consultancy is provided for the purposes of assisting law practices to comply with their trust accounting obligations. Investigators provide guidance only. Neither Investigators nor the Society is liable for any non-compliance with trust accounting obligations for which a law practice may be found responsible.