ACCOUNTANTS
TRUST ACCOUNTS

Accountant Trust Account Specialists

Audit Me are your Trust Account specialists.  We are qualified accountant trust account auditors and can accommodate audits of all sizes. 

We understand that accountants typically have a high workload and face unique demands, therefore we work with you in a collaborative and approachable way to ensure minimal disruption to your business.  By combining our expertise, experience and the energy of our staff, each client receives close personal and professional attention.  

 

With sites in Coolum Beach, Brisbane and Toowoomba we can attend your Office to complete audits or audits can be completed online. 

Let us do what we do well so you can focus on what you do well!

USEFUL RESOURCES:

RELEVANT LEGISLATION

Accountants who operate a trust account are required to comply with APES 310 Dealing with Client Monies

 

All Public accountants who practice in Queensland are required to annual reporting requirements to the Dept of Justice and Attorney General if operating a Trust Account. Accountant’s trust accounts are also covered by the Trust Accounts Act 1973 ( the Act)  and Trust Accounts Regulation 1999 (the Regulation)

TRUST AUDIT

REQUIREMENTS

Accountants must appoint an auditor to your trust account within 30 days of becoming a trustee and notify the Department of Justice and Attorney-General.

An accountant is required to have its trust records audited for the financial period ending 31 March each year and to lodge a report with the Department of Justice and Atttorney-General within 60 days of the end of the financial period.

For each audit period, auditors will:

  • inspect and audit the accountants trust account

  • make an audit report for the agent for the audit period

  • make one unannounced audit of the accountant’s trust account records

Do you need an accountant trust account auditor?  Please contact us to discuss your requirements and obligations.