Auditors annually encounter FICA legislation in the audit engagement of a legal practitioner’s trust accounts. Important to ask is: - What sections of FICA apply to a legal practitioner? - What parts of the audit involve consideration of FICA legislation? - Does the auditor need to include FICA compliance as part of the trust account compliance audit? - What is the auditor’s reporting responsibility around FICA related findings?
- Introduction to FICA requirements that are applicable to legal practitioners
- Highlighting what parts of the engagement require the auditor to specifically consider aspects of FICA law
- Identifying what the auditor’s responsibilities are around a legal practitioner’s compliance with FICA
- Discussing any reporting responsibilities of the auditor related to FICA
