THE LAW SOCIETY OF UPPER CANADA AUDIT REPORT

THE LAW SOCIETY OF UPPER CANADA AUDIT REPORT Revised December 31, 2008 Firm/Lawyer: Findings of the Audit Completed: (Circle the number of the inadequacies applicable on this spot audit. Discuss each inadequacy with the Lawyer or bookkeeper, if Lawyer unavailable; have Lawyer /bookkeeper initial each circled item in right-hand column.) Law REPORTING AREA REQUIRING IMPROVEMENT RECOMMENDATION Firm Initial A PRODUCTION OF FINANCIAL RECORDS Ensure that a paper copy of all financial records, whether entered and posted by mechanical or electronic means, may be produced promptly on the Society’s request. The following financial records were not available at your office on our Section 21 of By-Law 9. initial visit on (date): _______________________________________ You must keep the financial records required to be maintained under Sections 18 and 1 Trust Cash Receipts Journal – 18(1) of By-Law 9 19 of By-Law 9 for at least a six (6) year period immediately preceding your most 2 Trust Cash Disbursements Journal - 18(2) of By-Law 9 recent fiscal year end. Section 23(1) of By-Law 9. 3 Client Trust Ledger Accounts - 18(3) of By-Law 9 4 Trust Transfer Journal - 18(4) of By-Law 9 You must keep the financial records required to be maintained under paragraphs 1, 2, 5 General Cash Receipts Journal - 18(5) of By-Law 9 3, 8, 9, 10, and 11 of Section 18 of By-Law 9 (trust records) for at least the ten (10) 6 General Cash Disbursements ...