Media Release issued: 20 February 2018
The Legal Services Council (LSC) is seeking public comment on a draft Uniform General Rule to reinstate the power to revoke the status of external examiners (EE) as designated persons under the Legal Profession Uniform Law.
Under the Uniform Law, the LSC makes rules for carrying out or giving effect to the Uniform Law. Subsection168(2)(e) states that the Uniform Rules may make provision with respect to the external examination of law practices' trust records.
The Uniform General Rules currently specify a list of designated classes of persons in sub rule 65(2), including members of the CPA, CAANZ, IPA and persons registered as auditors under Part 9.2 for the Corporations Act, who may be appointed as an EE under section156 of the Uniform Law. They provide the right of Designated Local Regulatory Authorities (DLRAs), the Victorian Legal Services Board & Commissioner and the Law Society of New South Wales, to approve the appointment termination of an EE by a law practice in accordance with sub rule 66(3).
At its meeting on 19 December 2017, the Council agreed to publish the Consultation Draft Uniform General Rule in order to consult with DLRAs and other stakeholders on whether the DLRAs should have power to revoke a person's eligibility for appointment as an EE in their own right.
DLRAs and other professional accounting bodies have already provided submissions to the Council. This Consultation Draft Rule is released for public comment for a minimum period of 30 days in accordance with subsection 425(3)(b) of the Uniform Law. The draft rule may be reviewed at: www.legalservicescouncil.org.au/Pages/uniform-rules/current-consultations.aspx.
Submissions may be forwarded to: email@example.com by COB Friday 23 March 2018.