| Audit Period: | 1 July to 30 June |
| Audit Due Date: | A conveyancer who is required to maintain a trust account must arrange for the trust account to be audited in accordance with this section within 2 months after 30 June in each year. |
| Audit Report submitted to: | Conveyancers are required to submit an Annual Return (which includes the audit report) to the Building Standards and Occupational Licensing by 30 September each year by email to [email protected] |
Key information:
A licensed conveyancer is required to maintain a trust account in an authorised deposit taking institution.
All monies received from clients must be deposited into this account.
A trust account must be audited each financial year.
An annual return for the period ending 30 June of that year must be provided to Building Standards and Occupational Licensing by 30 September each year.
The annual return must contain the following:
name and location of any trust account in which trust money has been deposited;
the total amount if all contributions to the trust account;
a balance statement of the trust account;
a report from the auditor stating the conveyancer has kept proper accounting records and other books during the period.
Visit the Conveyancers Regulations 2010 for more information