Assessment days  l  Learning objectives  l  Course resources  l  Fees  l  Cancellations  l CPD Hours

Under the Financial Assurance Scheme all practices operating a trust account must appoint a qualified Trust Account Supervisor. The Trust Account Supervisor must be a lawyer and may be a partner or director in a law firm, or a sole practitioner.

To become a Trust Account Supervisor, a lawyer must pass the NZLS Trust Account Supervisor assessments (Regulation 19,
 Lawyers and Conveyancers Act (Trust Account) Regulations 2008).

If you have previously completed the TAS course, you may wish to refer to Regulation 19(3) Lawyers and Conveyancers (Trust Account) regulations 2008 to assess whether you are eligible to complete only a ‘refresher’ course. For further information about refresher requirements please email trustaccountsupervisor@lawyerseducation.co.nz

Preparing for the assessment

The training programme consists of self-study learning materials that are designed to help candidates prepare for assessment.

It is recommended that you spend at least 40 to 50 hours completing the self-study learning material and preparing for the assessment day. The learning materials include background information, examples and practice exercises with answers. About a month before the assessment day you will be sent mock examinations and model answers.

You will also need to examine a trust account in operation and write a report outlining your observations, to be submitted by email before the assessment day.

The modules

• Trust accounting requirements
• Recording trust account transactions
• Processing trust account transactions
• Trust account reconciliation
• Key internal controls of the trust account
• Month end review of reports to the Law Society
• Risk management
• Professional obligations when irregularities are suspected.

Learning objectives

Candidates will be able to:

• Differentiate between the obligations of any partner/ director and the additional obligations of the Trust Account Supervisor.
• Review the firm’s trust account procedures to ensure that they comply with the LCA and Trust Account Regulations.
• Use the Trust Account Guidelines to ensure that best practice is followed in their firm.
• Identify the internal controls which their firm has in place, whether they might be more robust, and how to make them so.
• If required, set up a trust account from scratch and implement procedures to ensure compliance with administrative and legal requirements.
• Respond appropriately to situations where there are ethical issues in the handling of clients’ money.
• Be alert to practices which might allow the mishandling of clients’ money,

Materials

Course materials will be sent to you when you have paid for your enrolment. Early enrolment is recommended to allow enough time to prepare effectively for the assessment.

Your course materials comprise a manual and a workbook folder of practical exercises to help you prepare for the assessment day.

Course resources

• Observation Report Template - Click here
• Lawyers and Conveyancers Act 2006 - Click here
• NZLS Lawyers Trust Accounting Guidelines 2018 - Click here
• Lawyers and Conveyancers Act (Trust Account) Regulations 2008 - Click here
• Lawyers and Conveyancers Act (Lawyers: Conduct and Client Care) Rules 2008 - Click here
• Lawyers and Conveyancers Act (Lawyers: Fidelity Fund) Regulations 2008 - Click here

Assessment day -  8.30am - 4.30pm

The assessment comprises four elements:

• A written observation report to be submitted by email before the assessment day.
• A written trust accounting administration examination.
• A written supervision examination.
• Participation in four discussion-based assessments on risk management and professional obligations.

In the event that you fail any part of the assessment, you will be required to resit the elements that you failed. This may take place in your home town.

Download a copy of the course brochure

Assessment days

Auckland 1	16 April
Hamilton	18 July
Wellington	24 September
Auckland 2	5 November
Christchurch	12 November

 

Presenter/Examiner

• Philip Strang, NZLS Inspector, Christchurch

Assessing Trust Account Supervisors

• Andrew Fletcher, Hamilton
• David Murphy, Wellington
• Simon Price, Christchurch
• Niamh McMahon, Auckland 

Fees & Cancellation/Refund policy

Trust Account Supervisor Training Programme (includes course materials, morning and afternoon teas and lunch on the day)	$550
Recount or re-mark	$75
Resit of all or part of the two written assessments	$115
Late submission or resubmission of the observation report	$75
Transfer to a later assessment day - additional fee payable This calendar year 15+ working days' notice 5-15 working days' notice 0-5 working days Next calendar year (note: new materials are required) 15+ working days' notice 5-15 working days' notice 0-5 working days Note: Registrants can claim 7.5 CPD hours on receipt of their returned observation report and participation on the assessment day.	$170 $300 $550 $350 $480 $550
Cancellation - refund available 15+ working days' notice 5-15 working days' notice 0-5 working days Please note: Minimum and maximum numbers apply. Registration is limited to lawyers. Registrations will be accepted on a first-come/first-served basis. Registrations close 20 working days before the presentation date (the closing date). NZLS CLE Ltd reserves the right to cancel any session that does not reach the budgeted minimum number of registrations. This decision will be made on the closing date and a full refund will be made to each registrant of the cancelled session.	$300 $170 No refund
Course materials (for those who do not need to complete the assessment) - Manual - Workbook	$110 $95

  

CPD Hours

Registrants can claim 7.5 CPD hours on receipt of their returned observation report and participation on the assessment day.