If the Law Society of BC asks your firm for an accountant's report, an independent CPA has to complete Section C of the online Trust Report. HJ Wu & Company Inc. (CPA) helps BC law firms get ready and get it filed.
What is the accountant's report?
It is Section C of the Law Society's online Trust Report. The CPA completes the accountant's specified procedures as an agreed-upon procedures engagement under CSRS 4400, which reports facts and is not an audit or a review. Under Rule 3-82 the Law Society has discretion to require one.
When is it due?
The Trust Report is due within three months of the end of the firm's reporting period. The firm completes its own sections first, and only then can the accountant open theirs. Late filing can bring late penalties and suspension of membership, so book your CPA early.
What does the CPA need from the firm?
- Bank statements for every trust account for the whole reporting period
- Monthly trust reconciliations
- Client trust ledgers and general account records
- Last year's report and any exceptions you already know about
What happens if exceptions are found?
The Law Society sets no materiality threshold for the accountant, so every exception found has to be reported. The easiest way to avoid surprises is to reconcile every month, not once a year.
How does HJ Wu & Company Inc. help?
The team handles law firm bookkeeping and monthly reconciliations, runs a readiness check before the engagement, and completes the accountant's procedures. Read the Trust Report guide for the full rules, or contact the firm.
How do I get started?
Call 604-636-1862 or send a message. The firm starts with an initial consultation and a needs assessment, then builds a plan around your goals.
Talk to HJ Wu & Company Inc.
Phone: 604-636-1862
Email: inquiry@hjwucpa.com
512 - 938 Howe Street, Vancouver
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Quick answers about HJ Wu & Company Inc. and how the firm can help. See all FAQs
Yes. HJ Wu & Company Inc. supports BC law firms with trust accounting and Trust Accountant's Reports. The accountant's report is Section C of the Law Society's online Trust Report, completed by an independent CPA as an agreed-upon procedures engagement, and the whole report is due within three months of the firm's reporting period end. Book early by calling 604-636-1862.
A Trust Accountant's Report is a review of how a law firm handles client money held in trust, such as retainers, to confirm it follows Law Society of BC accounting rules. HJ Wu & Company Inc. has experience with trust accounting for BC legal professionals, including trust reporting and reconciliation. Not sure where your firm stands? Reach out and HJ Wu & Company Inc. can walk you through it.
HJ Wu & Company Inc. offers law firm accounting that covers everyday bookkeeping, financial statements, tax filings and trust account work, using the software your firm already runs. The team understands the fiduciary side of legal practice and keeps client records secure. If you want an accountant who already knows how law firms work, contact HJ Wu & Company Inc.
It starts with an initial consultation, then a needs assessment, and then HJ Wu & Company Inc. builds a plan around your goals. Cost depends on what you need, whether that's a one-time tax return or ongoing bookkeeping and payroll, so the firm quotes after learning about your situation. Call 604-636-1862 or email inquiry@hjwucpa.com to book your consultation.