Newsletter May Interest on legal practitioners trust accounts When performing assurance engagements on legal practitioners’ trust accounts, auditors must ensure that they are familiar with all legal and regulatory requirements. When auditors are not fully aware of the latest requirements, misstatements and instances of non-compliance may go undetected. A common area where this may occur is interest earned on trust accounts and paid over to the Legal Practitioners Fidelity Fund (LPFF). This article explains the requirements and what to look out for Types of trust accounts Legal practitioners may operate three different types of trust [...]