As a registered conveyancer you are required to deposit monies received from your clients into a trust account in accordance with the rules under the Conveyancers Regulations 2010.
For instance, you must:
- maintain a trust account – where you accept trust money and deposit it into an account approved by the Commissioner at a bank, building society or credit union
- keep detailed records of trust money – by compiling detailed accounts of receipts and disbursements
- withdraw money from a Trust Account – only under circumstances set out in the Act
- issue accurate and detailed receipts – in the manner set out in the Act and the Regulations
- arrange for accounts and records to be audited on an annual basis from the end of your last audit period – or in the case of a new registration, from the date of registration – until two months before the date upon which your annual return is due or a date nominated by you and approved by the Commissioner
- ensure you do not act for both the transferor and transferee, or the grantor and grantee, of property or rights under a transaction
Visit Consumer and Business Services for more information.
Audit Period: The Audit Period will end two months prior to the expiration of your registration/licence, unless otherwise approved. E.g: If your registration/licence expires 30 June 2017, the Audit Period will cover 1 May 2016 – 30 April 2017.
Audit Due Date: 2 months after the audit period
Audit Report submitted to: firstname.lastname@example.org
We are qualified trust account auditors and can provide independent assurance on the operation of your trust accounts. Our professional team provides their auditing service in a timely and effective manner allowing your firm to fully comply with the regulations without unnecessary hindrance to your staff. Our experienced audit team will:
- Review your practices and procedures.
- Identify potential issues with your trust account.
- Provide you with the necessary audit report.
Our Fixed Fee
We charge a fixed fee as per our Schedule of Fees page.
Utilising best practice approach and with our experience in auditing trust accounts, we are able to employ the most efficient procedure with the value added services to achieve savings to your firm.
Give us a call on 1300 007 673 to speak with one of our fully qualified trust account auditors and benefit from our experience.