As a lawyer in Ontario, you are required to file your Lawyer Annual Report by March 31, 2012. Failure to file can result in an Administrative Suspension.
If you answer “No” to the question “Do you have a trust account?”, then completing the financial section of the Lawyer Annual Report is relatively quick. However, once you answer “Yes”, the screen suddenly fills with numerous questions that need to be answered, including some math questions.
If you have been following this blog for sometime now, you will know that I have previously mentioned completing a monthly Trust Comparison Report, as is required by Bylaw 9, s.18(8).
And, if you have indeed been completing the required Trust Comparison Report, completing the math section will be a breeze. All you need to do, is transfer the information from the Trust Comparison Report to the Lawyer Annual Report, and you are done the math section.
For a review of Trust Comparison Reports, see – December 5, 2010.
http://tsbk.blogspot.com/2010/12/lsuc-spot-audits-common-errors-2-of-7.html
And do not forget to fill out The Law Foundation of Ontario’s Form 1 as well.
As always, I invite your comments and suggestions for future post topics. Next week – Remnant Invoice Errors in PCLaw.
Clyde
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