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Role of the auditor on accountant trust accounts

If you are appointed by a public accountant to audit a trust account, you must:

  • prepare an independent auditor’s report at the end of each financial year
  • conduct an unannounced examination.

The financial period for a trust account is 1 April to 31 March each year.


You must be qualified under section 15 of the Trust Accounts Act 1973 and provide details of your qualifications in the audit report.

To demonstrate your independence from a trustee, you must submit your audit report on business letterhead and include:

  • a signed covering letter
  • ABN
  • name
  • phone number
  • business address

Appointment of auditor

You must advise us (the Department of Justice and Attorney-General) on business letterhead that you have accepted the appointment.

Unannounced examination

While auditing trust accounts, you must perform an unannounced examination during the financial period and provide a date of the examination in the annual audit report. If you are unable to carry out an unannounced examination, a reason must be provided or you maybe prosecuted.

Audit report

You must address a 25 point schedule as outlined in section 23 (1) of the Trust Accounts Regulation 1999 when auditing a trust account. We have created a 25 point schedule guide to help prepare the report. If the schedule is not fully completed, the audit report will be returned to you. It is the trustee’s responsibility to ensure the audit report is lodged with the Department.

Matters raised

You must immediately report in writing to us any matters that you feel breach of sections 6, 7 or 8 of the Act, or otherwise compromises the integrity of the trust account as stated in section 17 of the Act.

Resigning as auditor

You must advise us immediately in writing if you resign as auditor to a trust account. Refer to section 15 (9) of the Act.

Contact information

By post

Internal Audit Unit–Department of Justice and Attorney-General

GPO Box 149

By phone

Phone: (07) 3109 9113 or (07) 3006 2541

By email

More information

Last updated
15 January 2016
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