An audit of 18 law firms found only 3 passed compliance standards. 15 had non-compliant trust-account journals and 16 had non-compliant client ledgers. The presenter questions whether firms using external accounting software versus dedicated legal tools explains the gap.
Chapters
Out of the 18, only 3 passed in that regard. So 83% had non-compliant trust account journals. So I'd love to know more details on what made them not compliant. What would— because, you know, you're in this to pass. I'd like to know. Yeah. You think you're doing it right. Obviously you're signing up and going, yeah, I want to be tested. And then all of a sudden, out of all those firms, that's a lot of firms that didn't pass. It's really— yeah, that's a high number. Yeah. 16 of the firms out of the 18, so only 2 had— they had non-compliant client ledgers. And I would love to know the answer to that. Did they have software? Did they use external software? Because that's, I think, why LeanLaw is kind of sending these scary articles out, is that you need the software to make sure you have these compliant journals. And that's only me. Now we're down to 2 that have gotten that far.