THE LAW SOCIETY OF NORTHERN IRELAND TRUST
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF LAW SOCIETY OF NORTHERN
IRELAND TRUST
Report on the audit of the financial statements
Oplnlon
In our opinion, Law Society of Northern Ireland Trust's financial statements (the "financial stalements")-
give a true and fair view of the state of the Trust's affairs as at 31 December 2023 and of its incoming
resources and application of resources for the year then ended.
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice
(United Kingdom Accounting Standards, comprising FRS 102"The Financial Reporting Stsndard applicable
in the UK and Republic of Ireland" and applicable law),. and
have been prepared in accordance with the requirements of the Charities Act (Northern Ireland) 2008 and
The Charities {Accounts and Reports) Regulations {Northern Ireland) 2015.
We have audited the financial statements, which comprise.. the statement of financial position as at 31
December 2023; the statement of financial activities for the year then ended., the accounting policies,. and the
notes to the financial statements, which include a description of the significant accounting policies.
Basi5 for opinion
We conducted our audit in accordance with International Standards on Auditing {UK) ("ISAs (UK)"} and
applicable law. Our responsibilities under ISAS (U K) are further described in the Auditors, responsibilities for
the audit ofthe financial statements section of our report. We believe that the audit evidence we have oblained
is sufficient and appropriate to provide a basis for our opinion.
Independence
We remained independent of the Trust in accordance with the ethical requirements that are relevant to our
audit of the financial statements in the UK, which includes the FRC'S Ethical Standard and we have fulfilled
our other ethical responsibilities in accordance with these requirements.
Concluslons relatlng to golng concern
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the Trust's abilily lo continue as a
going concern for a period of at least ￿e1ve monlhs from the date on which the financial statements are
authorised for issue.
In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of
accounling in the preparation of the financial statements is appropriate.
However, because not all future events or conditions Can be predicted, this conclusion is not a guarantee a5
to the Trust's ability to continue as a going concem.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the
relevant sections of this report.
Reporting on other information
The other inforrnation comprises all of the information in the Financial Statements other than the financial
statements and our auditors, report thereon. The trustees are responsible for the other information. Our opinion
on the financial statements does not cover the other information and, accordingly, we do not express an audit
opinion or any form of assurance thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and,
in doing so, consider whether the other information is materially inconsistent with the financial statements or
our knowledge obtained in the audit, or otherwise appears to be materially misstated. Ifwe identify an apparent

THE LAW SOCIETY OF NORTHERN IRELAND TRUST
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
INDEPENDENT AUDITORS, REPORT (CONTINUED)
Reporting on other Information (continued)
material inconsistency or material misstatement, we are required to perform procedures to conclude whether
there is a material misstatement of the financial statements or a material misstatement of the other information.
If, based on the work we have performed, we conclude that there is a material misstatement of this other
information, we are required to report that fact. We have nothing to report based on these responsibilities.
Based on our work undertaken in the course of the audit, the Charities (Accounts and Reports) Regulations
(Northern Ireland} 2015 requires us also to report certain opinions and matters as described below.
Trustees. Report
Under the Charities (Accounts and Reports) Regulations {Northern Ireland) 2015 we are required to report to
you if, in our opinion the information contained in the financial statements is inconsistent in any material respect
with the Trustees, Annual Report. We have no exceptions to report arising from this responsibility.
Responslbilities for the flnancial statements and the audlt
Responsibilities of the Trustees for the flnancial statements
As explained more fully in the Statement of Trustee's responsibilities, the trustees are responsible for the
preparation of the financial statements in accordance with the applicable framework and for being satisfied
that they give a true and fair view. The trustees are also responsible for such internal control as they determine
is necessary to enable the preparation of financial slatements that are free from material misslatement,
whether due to fraud or error.
In preparing the financial stalements, the trustees are responsible for assessing the Trust's ability to continue
as a going concern, disclosing as applicable, matters related to going concern and using the going concern
basis of accounting unless the trustees either intend to liquidate the Trust or to cease operations, or have no
realistic alternative but to do so.
Auditors, responsibilltles for the audit of the flnanclal statements
We are eligible to act and have been appointed as auditors under section 65121, of the Charities Act (Northern
Ireland) 2008 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an auditors, report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with ISAS {UKI will always detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of
irregularities. including fraud. The extent to which our procedures are capable of detecting irregularities,
including fraud, is detailed below.
Based on our understanding of the Trusuindustry, we identified that the principal risks of non-compliance with
laws and regulations related to solicitors orders, data protection and employment, and we considered the
extent to which non-compliance might have a material effect on the financial statements. We also considered
those laws and regulations that have a direct impact on the financial statements such as the Charities Act
(Northern Ireland} 2008 and The Charities {Accounts and Report5) Regulalions (Northern Ireland) 2015. We
evaluated the incentives and opportunities for fraudulent manipulation of the financial statements (including
the risk of override of controls) by Ihe trustees and those responsible for, or involved in, the preparation of the
financial statements, and determined that the principal risks were related to posting of inappropriate journal
entries to manipulate profil and inappropriate recognition of revenue. Audit procedures performed included-

THE LAW SOCIETY OF NORTHERN IRELAND TRUST
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
INDEPENDENT AUDITORS. REPORT (CONTINUED)
Audltors, responsibilities for the audlt of the financial statements (continued)
Discussion5 Wlth management including the consideration of known or suspected instances of non-
compliance with laws and regulation and fraud-,
Identifying and testing unusual journal entries, in particular joumal entries posted with an unusual account
combination., and
performing unpredictable procedures
There are inherent limitations in the audit procedures described above. We are less likely to become aware of
instances of noncompliance with laws and regulations that are not closely related to events and transactions
reflected in the financial statemerbts. Also, the risk of not detecting a material misstatement due to fraud is
higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by,
for example, forgery or intentional misrepresentations, or through collusion.
A further description of our responslbilities for the audit of the financial statements is located on the FRC'S
website al". www.frc.or
.uklauditorsres
onsibilities. This descriplion forms part of our auditors, report.
Use of thls report
This report, including the opinions, ha5 been prepared for and only for the Trust's trustees as a body in
accordance with seclion 65 of the Charities Act {Northern Ireland) 2008 and regulations made under section
66 of that Act (Part 4 of the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015) and for no
other purpose. We do not, in giving these opinions, accept or assume responsibility for any other purpose or
to any other person to whom this report is shown or inlo whose hands it may come save where expressly
agreed by our prior consent in writing.
Other requlred reportlng
Charities (Accounts and Reports) Regulatlons (Northern Ireland) 2015 exceptlon reportlng
Under the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 we are required to report to
you if, in our opinion:
sufficient accounting records have not been kept.,
the financial statements are not in agreement with the accounting records,. or
we have not received all the infomation and explanations we require for our audit.
We have no exceptions to report arising from thi5 responsibility.
Harblnson Mulholland
Chartered Accountants
statutory Auditors
Centrepoint
24 Ormeau Avenue
Belfast
BT2 8HS