Trust Audits

Trust Accounting Audit Solutions

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Trust Account Bookkeeping

Trust Account Bookkeeping can be a difficult process at the best of times. If you are a small to medium sized business and you're not quite sure where to begin when it comes to Trust Account Bookkeeping, don't worry - Books Onsite is here to make sure you don't make any costly mistakes.
Books Onsite specialise in Trust Account Audit Solutions for Professionals.
A trust account can be a great business tool, but it can also be a legal nightmare as Law Practice Trust Accounts are governed by Law Society Trust Regulations which are specific for each state. 

Remote Fixed Fee

We get to know you and your business and then provide an ongoing weekly remote service.

Trust Account Management

Sydney, Melbourne, Brisbane and Perth backed by MYOB, Quickbooks or Xero Certified CPA support.

Trust Management Reports

Featuring Management and Reconciliation of your Accounts and to ensure compliance with all regulations.
A trust can be a great business tool, but it can also be a legal nightmare. Whether it is a family trust, a business trust, or a grantor or beneficiary trust, you need to know how to work on them. You need to have a solid accountant on your side that can help you out with these trust audits.For a Fixed Weekly Fee, we will initially review your existing accounts to get to know you and your business, refine your systems and customise a procedural checklist. We then provide an ongoing weekly remote service which includes the following:
  • Management and Reconciliation of your Trust Accounts to ensure compliance with Law Society Regulations
  • Annual External Examination (we are Certified External Examiners in NSW, Victoria and QLD, South Australia and ACT)

Frequently Asked Questions

Not sure what you are looking for? Check Out our Legal FAQ right here or Contact Us today for more information.

What Is a Trust Audit?

A Trust External Examiner must be appointed by the Law Practice as soon as a trust account is opened. The Trust External Examiner is required to lodge the Trust Audit by 31 May each year. When an External Examiner’s Report is qualified or an adverse report is made, a copy of the Report is to be forwarded by the external examiner within 7 days to the Chief Trust Account Investigator & Supervisor, Trust Accounts Department of the Law Society.

The report must include an examination of all general trust accounts and accounts where trust money was held (e.g. controlled money accounts, account subject of a power) that have been opened or closed by the law practice during the reporting period.

What is a Trust Account?

Trust money is money entrusted to the law practice in the course of or in connection with the provisions of legal services by the law practice.

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