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Law Society of Northern Ireland Audit Compliance Guide

  • 05/02/2025
  • Knowledge

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

ArtefactWhere
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 systemNot a software requirement 
Client and office original paid cheques (or digital images of front and back)LEAP Reports > Invoices Report 
Trial BalanceOffice - 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 reportLEAP Reports > Office > Anticipated Payments
Transfers between client and office accountLEAP Reports > Office > Office Receipts Report (clients must have this transaction type set up)
Office cashbookXero - Bank Accounts > Reconcile accounts
Client cashbookLEAP - 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

Resolution
Office AccountingClient Accounting
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Law Society of Northern Ireland Audit Compliance Guide