All law firms in Fiji are required to submit their Trust Account Audit Report and Trustees Statement to the Chief Registrar by December 2. Chief Registrar Tomasi Bainivalu issued this directive on September 30, highlighting that under the Trust Accounts Act 1996, it is mandatory for all law firms to have their trust accounts audited by a qualified person or firm holding a current Certificate of Public Practice from the Fiji Institute of Accountants.
Bainivalu stated that all reports and statements must be received in his office no later than December 2, 2024. Those seeking an extension must formally request it from the Minister for Justice. He warned that non-compliance with certain sections of the Trust Accounts Act 1996, without a valid explanation, could lead to the suspension of the practicing certificates for the principal and partners of law firms.
Additionally, Bainivalu specified that any practitioners or law firms that possess a trust account or have established one between October 1, 2023, and September 30, 2024, must conduct an audit regardless of whether there were any transactions in the account.
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