Avoid Costly Mistakes. Protect Your Practice. Stay Compliant. Mishandling trust funds isn’t just a mistake—it’s a career-ending risk. Join for an essential afternoon of expert-led sessions designed to keep your trust accounting practices sharp, compliant, and audit-ready.
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- Stay compliant with regulatory standards
- Learn from real case studies and avoid costly mistakes
- Be audit-ready and confident in your trust account management in your firm
- Ideal for lawyers, legal support staff and bookkeepers
Practice Management
2.00pm to 3.00pm Trust Accounting Fundamentals: Key Concepts and Best Practices
- Understanding trust account basics and regulatory compliance
- Managing interest-bearing trust accounts and specific client instructions – what are the rules regarding interest generation?
- Proper recording procedures, balancing trust accounts and identifying irregularities
Presented by Ben Youn, Managing Director, Quantum House Australia
4.00pm to 4.15pm Afternoon Break
Do you want customised Trusts Accounting Training?
Onsite and customised training is also available, just contact us at info@legalwiseseminars.com.au to arrange training in your workplace.
Description
Attend and earn 3 CP Units including:
1 CPD unit in Ethics and Professional Responsibility
1 CPD unit in Practice Management
1 CPD unit in Professional Skills
This program is applicable to practitioners from all States & Territories
Chair:
Professional Skills
3.00pm to 4.00pm Trust Account Reviews: What to Expect and How to Prepare
- How to prepare for a trust account examination
- The most common breaches and why they happen
- What to do if you're delayed in recording transactions or transferring funds
Presented by Robert Liu CA CPA RTA MPA, Partner, Pitt Martin Group
Ethics and Professional Responsibility
4.15pm to 5.15pm Ethical Obligations and Case Studies
- Key red flags that may indicate potential fraud in trust or operating accounts
- Understanding your obligations and responsibilities when managing trust money
- Critical areas to focus on when reviewing trust accounting records for accuracy and compliance
- Practical case studies highlighting real-world breaches; what went wrong, what should have been done, lessons learned and how to prevent similar issues
Presented by Chris Thong CPA ACFE, CT Consultants
Presenters
Ben Youn, Managing Director, Quantum House Australia
As the leader of Quantum House, Benedict leads a team of accountants and advisers of our practice assisting our clients in navigating the complexities in the accounting and taxation field. Having practised in law and accounting in both public and commercial environments since early 2004, Benedict’s unique background and skillset greatly contribute to our client services offerings delivering exceptional quality advice and real-world commercial solutions. Benedict’s expertise is in the areas of business accounting, taxation, financial mechanisms and arrangements as well as international transaction support and advisory. Benedict’s experience is complimented by his time as head of finance for a major manufacturing company which has enabled him to understand the whole business value chain, including manufacturing cost analysis and supply chain management. This ‘hands-on’ approach help Benedict and his team understand the day-to-day requirements of businesses competing in an ever-challenging and global commercial environment. Fluent in English and Korean, Benedict lives in Sydney with his wife and two daughters.
Chris Thong CPA ACFE
Christopher (Chris) Thong is a qualified accountant with CPA Australia, a full member of the Association for Certified Fraud Examiner and an approved External Examiner for NSW and Victoria. Prior to commencing with CT Consultants, Chris has been working as an investigator for 13 years for the Trust Accounts Departments of Law Institute of Victoria and Law Society of NSW. Chris has significant experience in financial crime investigation, law practice’s trust account investigation, compliance review, trust records examination, trust records reconstructions, risk assessment and trust account compliance training.
Robert Liu CA CPA RTA MPA, Partner, Pitt Martin Group
