FIN | Managing Trust Accounts with Confidence: A Guide for Administrators and Operations Professionals

Attorney trust accounts are designed to safeguard client funds, making trust accounting one of the most important financial responsibilities within a law firm. Because these accounts are closely regulated, even small errors can create significant compliance risks, making strong processes and oversight essential. In this session, participants will learn why trust accounting matters and explore best practices for maintaining compliant attorney trust accounts. Topics include accurate three-way reconciliations, effective internal controls, audit readiness, and strategies for identifying and addressing common compliance risks before they become costly issues. Drawing on Armanino's experience conducting attorney trust account audits, attendees will gain practical, actionable strategies to strengthen compliance, reduce risk, and build trust accounting processes that stand up to regulatory review. Three Learning Objectives 1. The Dos & Don’ts of Three-Way Trust Reconciliation: Learn how to perform accurate three-way trust reconciliations, identify common mistakes before they become compliance issues, and establish consistent processes that strengthen financial oversight. 2. Internal Controls Around Trust Accounting: Discover practical internal controls that help prevent errors, safeguard client funds, and reduce risk by creating greater accountability and transparency within trust accounting operations. 3. How To Stay Audit Ready: Gain actionable strategies for maintaining complete documentation, monitoring compliance requirements, and preparing trust accounting records that can withstand regulatory review and audits with confidence. Interactive Activities Trust Accounting Scenario Discussions: Attendees will be presented with common trust accounting scenarios. Case Study Analysis: A real-world example of a law firm strengthening its trust accounting processes will be provided. Participants will engage in a guided discussion to evaluate the firm's approach to three-way reconciliations, internal controls, and audit preparedness, while considering alternative strategies for mitigating risk and improving compliance. Live Q&A Session: Attendees will have the opportunity to interact directly with the presenter, asking questions about trust accounting requirements, reconciliation challenges, internal controls, and audit readiness. This discussion will provide practical guidance tailored to participants' experiences and help translate key concepts into actionable steps for their firms.