Show:
What's up Doc?
Minding the Mint
Know It All
Trials and Tribulations
Inquiring minds want to know…
100
The one signature that must always be on a trust cheque.
What is a practicing lawyer?
100
The Annual Trust Report.
What must you file each year regarding the trust related activities of your firm?
100
Need Opportunity Justification
What are the three elements of Fraud/the Fraud Triangle?
100
Four
What is the number of times a year, you pay your TAF remittance?
100
The Discipline Digest
What is the LSBC publication in which you do NOT want your name to appear?
200
You never want to see your name here.
What is the Discipline Digest?
200
Being contacted by email to collect an out of province debt and then being pressured to pay out quickly.
What is debt collection scam?
200
Employee never takes time off for vacation and/or wants to control all accounting functions?
What is a "red flag" of fraud?
200
The maximum amount a lawyer can accept in cash for deposit to trust that is not for fees or a retainer.
What is $7499.99?
200
Accepting CASH of $7,500 towards a real estate deal.
What is an example of a "cash breach"?
300
Not the payee on a trust cheque.
What is "cash" or "bearer"?
300
When trust liabilities EXCEED trust assets.
A trust "shortage".
300
Living "beyond their means".
What is the most common "red flag" demonstrated by fraud perpetrators?
300
When a shortage occurs that is greater than $2,500.
What is you make a written report to the Executive Director of the Law Society including all relevant facts and circumstances?
300
Answering "yes" to paying your GST/HST when you have been collecting it but have NEVER registered for it or remitted it.
What might be found within an "inconsistent" Trust Report?
400
Within seven days.
What is how soon should you write to the Executive Director about cash that should not have been received?
400
Postage stamps.
What you do NOT want to buy in order to zero out small balances in your trust ledger cards?
400
OPPORTUNITY
What is the one element of fraud over which we have the greatest control?
400
They accept unclaimed trust funds under the provisions of Rule 3-82.
What is the Law Society of British Columbia?
400
Depositing trust funds directly into your general account prior to any work being done.
What is "by-passing" the trust account (a concern to the Trust Assurance Department and a violation of the Rules).
500
You complete this before an electronic trust transfer.
What is a LSBC approved EFT transfer form?
500
604-697-5810 & trustaccounting@lsbc.org
What are two ways to contact the Trust Assurance Department?
500
Bank accounts not reconcilied regularly and insufficient segregation of duties.
What are examples of weak internal controls?
500
The place you go for trust accounting help & assistance.
What is the Trust Assurance Department?
500
Mary, Paralegal, as the ONLY signatory on the firm's trust account.
What is an "unauthorized" signatory?