All law firms in Fiji are required to submit their Trust Account Audit Report and Trustees Statement to the Chief Registrar by December 2, 2024. In a directive issued on September 30, Chief Registrar Tomasi Bainivalu emphasized that according to the Trust Accounts Act 1996, trust accounts must be audited by individuals or firms holding a current Certificate of Public Practice from the Fiji Institute of Accountants.
Bainivalu stated that the audited reports and the trustees’ statements must be delivered to his office by the specified deadline. Any requests for extensions should be directed to the Minister for Justice. He warned that failing to comply with Sections 12(1) and 12(3) of the Trust Accounts Act without a valid explanation could lead to the suspension of the practicing certificates for the principals and partners of law firms.
Furthermore, Bainivalu noted that all practitioners or law firms with a trust account, including those that opened accounts from October 1, 2023, to September 30, 2024, must perform an audit of their trust accounts, regardless of whether any transactions occurred during that period.
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