Law Society of Northern Ireland Audit Compliance Guide

Feb 5, 2025
Knowledge

How To

This Guidance details how to comply with the Law Society of Northern Ireland's audit requirements across both LEAP and Xero.

Artefact	Where
Listing of all active client and office bank accounts to include client designated deposit accounts.	Office - Xero > Bank Summary Client - LEAP Reports > Client Funds > Client Account Cashbook Deposit - LEAP > Separate Designated Client Accounts > Separate Designated Client Accounts Listing of Accounts
Client and office bank account statements	Not a software requirement
Access to computerised/manual accounts system	Not a software requirement
Client and office original paid cheques (or digital images of front and back)	LEAP Reports > Invoices Report
Trial Balance	Office - Xero > Trial Balance Report Client - LEAP Reports > Client Funds > Client Account Trial Balance Deposit - LEAP Separate Designated Client Accounts Listing of Accounts
Client Bank Reconciliation	LEAP Reports > Client Funds > Client Accounts > Bank Reconciliation
Office Bank Reconciliation	Xero - Bank Accounts > Reconcile Accounts
Anticipated payments report	LEAP Reports > Office > Anticipated Payments
Transfers between client and office account	LEAP Reports > Office > Office Receipts Report (clients must have this transaction type set up)
Office cashbook	Xero - Bank Accounts > Reconcile accounts
Client cashbook	LEAP - Bank Account Register (this is effectively the control account per bank)
Bills of cost (issued/paid)	LEAP Reports > Office > Invoices Report

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We recommend that you save each of these reports monthly to a Practice Management matter within LEAP to ensure that the data required at audit is correct for the period covered by the inspection. It is especially important that any firm using Anticipated Payments report monthly, as this information cannot be gained historically from LEAP.

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If you wish to produce a single combined Trial Balance across client and office, please follow the guidance available on the LEAP Community.

Last Modified Date

5/02/2025 1:54 AM

Title

Law Society of Northern Ireland Audit Compliance Guide

URL Name

Law-Society-of-Northern-Ireland-Audit-Compliance-Guide

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