I started my sole practice in the spring of 2019. I was expecting that the Law Society of Ontario (LSO) would conduct an audit at some point over the first couple of years of my practice, but I wasn’t sure how its logistics would work during COVID-19. I don’t know any other sole practitioners who have recently undergone an audit, so I had no idea what to anticipate.
I received an email from a Spot Auditor (SA) at the LSO in early January 2021. The email notified me that a spot audit of my practice had been authorized under section 49.2 of the Law Society Act, which section mandates licensees’ financial records audits.
The email further stated that my audit would focus on my books and records to assess compliance with various LSO By-Laws and Rules of Professional Conduct and that the process would require me to complete a questionnaire, submit copies of certain requested documents and to attend a meeting by Zoom with the SA.