This is a reminder to our Accountant Clients and Colleagues who operate a trust account for client monies to prepare their records for audit in a timely manner.
Members in Public Practice are reminded of their trust account obligations, particularly members in Queensland whose trustee declarations are due by 14 April and independent audit reports are due no later than 31 May. For Members in other states the audit is to be completed within 3 months of the Applicable Year-End Date.
Members in Queensland can access the following web page, https://www.cpaaustralia.com.au/professional-resources/accounting-professional-and-ethical-standards/apes-310-dealing-with-client-monies/dealing-with-client-monies-in-queensland
We at Australian Audit work with Accountants to ensure their reporting obligations are met within applicable time frames.
For further enquiries feel free to contact a Director of our Firm on 9218 9922.