Trust Account Audits
Clients holding monies on trust for others are required to have their trust accounts audited annually. Typically, these clients can include real estate agents, solicitors and accountants . At TSP Accountants we have a number of auditors registered with ASIC and authorised to complete trust account audits.
Our auditors will:
Conduct an examination of the trust account each financial period
Report on crucial matters raised during the examination
Prepare an annual audit report for each financial period
Provide you with an audit management letter outlining any areas of concern
Why does my business need to be audited?
In most instances, a company will require a regular annual audit to maintain its financial standing with ASIC and the Australian Tax Office.