As most attorneys well know, trust accounting for IOLTA trust accounts as mandated by the NC State Bar can be a daunting and stressful task. To make things even more difficult, the NC State Bar even has a special auditor whose job is to go around North Carolina and randomly select attorneys in order to audit their trust account. Penalties for violations of trust account rules can result in substantial penalties as well as loss of license for an attorney. Do not let your firm be one that is found out of compliance. Our firm is uniquely positioned to understand the complexity of trust account compliance and assist your firm with complying with these rules.
Our firm provides a full range of services to attorneys to manage their trust accounts. These services range from assistance setting up, maintaining, and reconciling your trust account to auditing your trust account. We provide setup, maintenance, and reconciliation of trust accounts as a service on its own as well as part of our bookkeeping and accounting packages available just for attorneys.
Although it is little known, attorneys in North Carolina can seek a 15 month immunity from the dreaded trust account audit by engaging a CPA firm to audit their trust account. If your firm chooses to have a CPA you know and trust audit your trust account, you can apply for an exemption, and if your firm is randomly selected for audit (which can happen sooner than you may want to believe) the state bar will have to move on to someone else. Call us today to take advantage of this valuable service and exempt your firm from the possibility of a trust account audit.
Do not waste your valuable time trying to keep up with the complexities of trust accounting. Do not risk being out of compliance. Call us today and leave your trust accounting to the accounting professionals.