Establishes a random audit compliance program for law firms managing escrow trust accounts in New York to ensure proper handling of client funds.

The bill mandates the chief administrator of the courts to create and implement a random audit compliance program. This program will conduct periodic financial audits of law firms that engage in private practice and manage escrow trust accounts in New York. The goal is to ensure law firms properly handle client funds, maintain required records, and follow ethical responsibilities. The program will randomly select law firms for audit, ensuring each has an equal chance of being selected once every five years.

Establishes a random audit compliance program for law firms managing escrow trust accounts in New York to ensure proper handling of client funds.

The bill mandates the chief administrator of the courts to create and implement a random audit compliance program. This program will conduct periodic financial audits of law firms that engage in private practice and manage escrow trust accounts in New York. The goal is to ensure law firms properly handle client funds, maintain required records, and follow ethical responsibilities. The program will randomly select law firms for audit, ensuring each has an equal chance of being selected once every five years.