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Protect your law license by mastering the technical requirements of IOLA accounts and avoiding common, career-ending bookkeeping pitfalls.
New ethics rules have raised the stakes for IOLA compliance.
Hear from a forensic accountant and ethics authority on the latest requirements, common pitfalls, and best practices for keeping your trust account audit-ready.
The course examines the strict ethical and regulatory requirements for maintaining Interest on Lawyer Accounts (IOLA) in New York. It covers the non-delegable duty of attorneys to personally review and reconcile accounts, the mechanics of three-way reconciliations, and the risks associated with commingling funds or relying solely on non-legal staff.
The material emphasizes the importance of internal controls, the dangers of electronic banking shortcuts, and the specific procedures for handling advanced fees, client disbursements, and unidentified surpluses. By focusing on the technical realities of financial compliance, the course provides a framework for preventing common errors that lead to disciplinary action.
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The NYS Academy of Trial Lawyers is the largest statewide trial bar in the US with 5,700+ lawyer and judge members. We are committed to protecting, preserving and enhancing the civil justice system. Our highly acclaimed CLE programming features extraordinary presenters covering the most timely and important topics.
Principal of the Law Offices of Michael S. Ross
Michael S. Ross is the principal of the Law Offices of Michael S. Ross, where he concentrates his practice in attorney ethics. He is a former Assistant United States Attorney in the Criminal Division of the Southern District of New York and also served as an Assistant District Attorney in Kings County. Mr. Ross has been an Adjunct Professor at Benjamin N. Cardozo School of Law since 1980 (where he teaches Fall and Spring Semester courses in Litigation Ethics). Mr. Ross has also simultaneously served as an Adjunct Associate Professor at Brooklyn Law School since 2005 (where he teaches year-round Fall, Spring, and Summer courses in Professional Responsibility). In addition, in his four decades of teaching at Cardozo School of Law, he has taught a variety of ethics, trial practice, and judicial administration courses. Mr. Ross is a frequent lecturer and author on topics involving ethics for such organizations as the Appellate Divisions, First, Second, and Third Judicial Departments, the National Institute of Trial Advocacy, the American Bar Association, the New York State Bar Association, and the New York State Academy of Trial Lawyers. Mr. Ross has been a longstanding member of the New York State Bar Association’s Committee on Professional Discipline and the New York County Lawyers’ Association's Committee on Professional Discipline. He previously served for a number of terms on the Association of the Bar of the City of New York’s Committee on Professional Discipline, the New York State Bar Association's Special Committee on Procedures for Judicial Discipline, and the New York State Bar Association’s Task Force on Lawyer Advertising.
Managing Partner at Hoberman & Lesser LLP
Robert Hoberman joined the firm in 1981, became a partner four years later, and now serves as the firm’s managing partner. He has over 30 years of experience in management consulting, working with businesses across various industries. His expertise includes structuring business deals, tax planning, estate and gift planning, and valuations, including the use of trusts. He also has extensive experience with banks and financial institutions, as well as extensive knowledge of data processing, systems analysis, and consulting for commercial applications. A graduate of Syracuse University with a B.S. in Accounting, Robert is a Certified Public Accountant in New York, New Jersey, Connecticut, and Florida. He is a member of both the American Institute of Certified Public Accountants (AICPA) and the New York State Society of CPAs (NYSSCPA). In 2008, Robert received the Humanitarian of the Year award for his work with the NYC Chapter of The Crohn’s & Colitis Foundation of America (NYC CCFA). He currently serves as a board member for the Lester M. Entin Foundation. Robert regularly writes articles for Rapaport Magazine, addressing timely tax and financial issues related to the jewelry industry. He has been a featured speaker for webinars hosted by the New York State Academy of Trial Lawyers, including: Law Firm Life Savers: What You Need to Know to Keep Your Practice Running During COVID-19 An Expert’s Guide to Explaining the SBA Paycheck Protection Program, Economic Injury Disaster Loans, and NYC Loan/Grant Programs An Update on the SBA’s Paycheck Protection Program (PPP): Legislative Initiatives and Real-World Examples of the SBA Grant Forms Robert also gave a presentation on escrow accounting during Signature Bank’s CLE Program, Legal Ethics & Escrow Accounting in Cyberspace.