1.  The Client File Report

This report is supplied by the Property Registry and it confirms the use of money provided by the law firm. It is used by the firm to ensure accurate accounting of client trust money and general account disbursements. Law Society requirements related to a client file report are in Rules 5-47(4) as follows:

a) You must compare the client file report with your client trust ledger to ensure the payment information is the same.

b) You must check the summary box on the client file report for any discrepancies, and reconcile and correct any discrepancies immediately.

c) In addition, as a source document for your trust account, you must file a printed or electronic copy of the client file report in the client file, saving it in a universally readable format if it is saved electronically [Rule 5-43(1].

If you are planning to use a restricted trust account, you should review the Law Society’s eRegistration requirements and FAQs.