Manitoba lawyers regularly handle trust funds and other property on behalf of their clients in connection with their practice of law. Lawyers are required to follow the rules established by The Law Society of Manitoba in order to ensure that these funds are properly safeguarded. The rules are set out in Division 4 - Financial Accountability Rules 5-41 to 5-53.3(3) and include requirements with respect to the appropriate handling of clients’ trust funds. In addition, lawyers are required to maintain up to date and accurate accounting records for both trust money and general money received and disbursed.
To ensure compliance with the requirements, the Law Society reviews lawyers’ accounting records on a regular basis through the Spot Audit Program. In addition, lawyers are required to file an Annual Trust Account Report which provides up to date information on the law firm’s trust accounts and the associated accounting records.
The following information is provided in this section: