Trust Accounting Mistakes Under the Legal Practice Act That Lead to Serious Trouble
Trust accounting errors carry heavy consequences under the Legal Practice Act. This session helps accountants understand what trust accounting really requires and how to avoid mistakes that lead to investigations, penalties, or loss of credibility.
What will set you apart
By completing this course you will gain the following competencies
- By attending this event, delegates will learn:
- Delegates will learn where trust accounting usually goes wrong, what compliance rules matter most, and how to work safely within the Legal Practice Act. This allows them to protect themselves, support legal practices properly, and avoid being caught in serious compliance failures.
Event breakdown
- Why trust accounting carries serious risk
- Key trust accounting rules under the Legal Practice Act
- Common trust accounting mistakes
- Where accountants and firms are exposed
- Record-keeping and control failures
- How investigations and audits are triggered
- Practical steps to reduce trust accounting risk
Description
Trust accounting is one of the highest-risk areas of financial work. Small mistakes can trigger audits, investigations, and severe consequences for both the legal practice and the accountant involved.
This session focuses on trust accounting as it works in practice, not legal wording alone. It explains what the Legal Practice Act requires, where trust money is often mishandled, and how poor controls lead to serious problems.
The session is practical and clear. It helps accountants understand their role, the records that must be kept, and where they are most exposed. Delegates will learn how to support legal practices safely, spot warning signs early, and avoid being pulled into compliance failures they cannot fix after the fact.
Presenters
Corne van Schalkwyk — Corne van Schalkwyk is a qualified CA (SA) and part of the top leadership of Renforcer Investments. Being a financial consulting firm, it allows him to be on the board of clients as a financial director and work closely with other financial managers and directors to grow companies and strengthen their identities. He has gained experience over the past 12 years in various industries and in his dealings with various stakeholders. The journey was started within the audit environment at KPMG and developed into being a senior presenter at KPMG and Deloitte in complex transactions and financial statements to groups of companies, including JSE Listed companies. His last 5 years was spent in the role as a Financial Manager and Financial Director at various entities over multiple industries.
Willem Otto — I am a young, newly qualified CA (SA) who completed his articles at a medium sized audit firm specialising in SME Audits. I started my journey as a financial manager in January 2024 at Renforcer investments, where we specialise in filling the gap between numbers and people and building long lasting relationships and as such had the opportunity to gain experience in many different management roles. With the help of my experienced co-workers at Renforcer, who have combined experience of 20 years as financial managers, I have made the transition into FM and is ready to help others make that transition as efficiently as possible. I have experience in leadership and public speaking due to my involvement with internal training presentations at Renforcer, as well as the audit firm where I worked.
You will earn a certificate
On successful completion you will receive a certificate for 2 CPD units in Accounting.
Requirements
- Laptop, desktop, or mobile device with internet access
- Microsoft Edge, Google Chrome, Safari, or Firefox browser