General Information

Your trust records must be audited by an approved auditor each financial year, unless there is prior agreement from the Director of Consumer Affairs Victoria. You do not need an audit if you only receive transit money during the audit period.

You must supply the auditor with all accounting or other records of the conveyancing business.

As soon as the report is completed, the auditor must deliver it to the licensed conveyancer concerned. Within 10 business days, the licensed conveyancer must lodge a copy of this report (and any attachments) with Consumer Affairs Victoria.

You must keep records for at least seven years in a permanent form.

Key details:

Audit Period:1 July to 30 June

Audit Due Date:Conveyancers are required to procure their audit reports within seven weeks of June 30, and to have lodged a copy of the audit report within 10 business days of receiving it from the auditor.

Audit Report submitted to:Conveyancers must lodge a copy of the audit report via myCAV within 10 business days of receiving it from the auditor.