Legal Trust Audit

Our firm currently conducts a number of Legal Trust Audits across Victoria. We have staff who specialise in this area and assist Legal practices to comply with record-keeping requirements for Trust Monies.

Law practices and approved clerks who are required to keep trust records must have those records examined by an approved external examiner (AEE) in each audit year. The audit year runs from 1 April – 31 March the following year.

For the purposes of the examination, a law practice or approved clerk must produce to the AEE their accounting or other records relating to the affairs of the practice or clerk, or give the AEE any other information he or she reasonably requires. There are heavy penalties for failing to comply with these requirements and we can ensure that you meet all obligations and requirements during your audit. 

You can read further information here.