Attorneys Trust Audit
Accuracy and Precision with every engagement
Summary Of Our Attorneys Trust Audit Services
An Attorneys Trust Audit is a requirement of the Attorneys Act of South Africa. An annual audit report is prepared following this audit and is to be submitted within 6 months of the Attorneys’ financial year-end. Further to this the Law Societies of South Africa also require a Trust Audit. Given the risk, an Attorneys Trust Audit is a comprehensive audit that covers all the major risk areas surrounding holding third party funds in a fiduciary capacity
What Our Attorneys Trust Audit Include
You will be assigned a dedicated auditor/accountant to assist with all your audit and assurance needs.
CFO360 provides comprehensive Attorneys Trust Audit services as well as further advice, guidance and assistance to Attorneys and Firms.
We’ll help you with the accounting and bookkeeping that you don’t have the time or expertise to do, while you focus on your business. As your Accountant, we are able to give you a better, more value-focused service, while time saved on administrative queries will be better spent on value-adding activities.
Learn more about our Accounting Services
CFO360 will assist you with the preparation of Financial Statements on an annual basis. As the manager or owner of an entity you will need financial statements for filing annual tax returns to SARS, the annual company returns to the CIPC, as well as to secure any financing.
Learn more about our Annual Financial Statements
Our services include the training and ongoing support of your accounting system for you and your staff. Your dedicated accountant will also do frequent reviews of the system. Both you, your staff and your accountant have always-on access to your systems from anywhere, on any device with an internet connection. The systems we use are all open to other systems to ensure you don’t need to change as your company expands or requires a different function.
Learn more about our Systems and Software.
As a value-added service, CFO360 bundles taxation services you may need with your current monthly accounting services to offer the entire spectrum to you as a client.
Learn more about our Tax Services
CFO360 can assist with all your Payroll Services needs. While paying staff is an important function, this can be a time consuming regular task. CFO360 can offer small to medium-sized entities and business owners a professional approach to this sensitive cycle. In addition, we will take care of all the related legislative requirements and ensure the necessary deadlines are met.
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With the use of our cloud accounting software and processes we can equip your business to run from virtually anywhere. Our systems allow you to invoice from any device and your supplier invoices/slips can be captured as easy as taking a picture to be automatically processed. This allows your accounting records to stay as up to date as possible and provide you with a real-time reporting experience to make critical business decisions.
Learn more about our Reporting Functions
Some Frequently Asked Questions
Trust accounts can be audited by registered auditors. These professionals are specially trained to examine trust account records and ensure that they comply with all applicable laws and regulations.
Trust accounts should be audited at least once a year, but some may argue that it should be done more frequently depending on the level of trust involved. For example, if there is a high monetary value or if there is a large number of transactions taking place, then an audit may be needed every quarter.
A trust account is an account held in the name of a trustee for the benefit of another person or persons. The trustee holds legal title to the assets in the account and is responsible for managing them for the benefit of the beneficiary or beneficiaries. A general account, on the other hand, is an account held in your own name. You are legally entitled to all of the assets in the account and are responsible for managing them yourself.
Some Of Our Professional Partners
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We'll respond within one day with a consulting call on us. We can communicate over emails too if you prefer.