Account

Sign in to access your account and subscription

Client Trust Accounts

What steps can your firm take to reduce the risk of loss or fraud as it relates to IOLTAs? Also, what must be done to meet your state's client trust account record-keeping requirements? This article covers the basics and will help you think about what changes your firm should consider to protect against IOLTA loss or fraud.

31 minute read March 29, 2011 at 11:09 AM
By
Neil F. Scullion
Client Trust Accounts

All partners in a law firm are responsible collectively for any client money kept in an Interest on Lawyer Trust Account (“IOLTA”) or individual client trust account. What steps can your firm take to reduce the risk of loss or fraud as it relates to IOLTAs?

This premium content is locked for Accounting and Financial Planning for Law Firms subscribers only

ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN Accounting and Financial Planning for Law Firms

  • Stay current on the latest information, rulings, regulations, and trends
  • Includes practical, must-have information on copyrights, royalties, AI, and more
  • Tap into expert guidance from top entertainment lawyers and experts

Already have an account? Sign In Now

For enterprise-wide or corporate access, please contact Customer Service at [email protected] or call 1-877-256-2473.

NOT FOR REPRINT

© 2026 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Continue Reading

The combination of increasing operating costs and uncertain government reimbursement funding continues to place health care providers under financial pressure, and in many cases, financial distress. Given the importance of Medicare/Medicaid funding of claims under provider agreements with the federal government, how courts interpret and apply the interplay between the Bankruptcy Code and Medicare Program Act determines the disposition of hundreds of millions of dollars of claims for reimbursement that support the health care system.

April 30, 2026

As AI becomes embedded in everyday business and legal operations, organizations are confronting a new expectation: simply disclosing AI use is no longer enough. A critical shift is taking place in the legal industry: transparency is no longer just about disclosure; it’s about comprehension.

April 30, 2026