Conveyancers Regulations 2025

A conveyancer who is required to have accounts and records audited under Part 4 Division 2 of the Act must, before the completion of the audit, certify—

under their hand; or

in the case of a firm of conveyancers—under the hands of not less than 2 partners of the firm; or

in the case of a conveyancer that is a company—under the hands of not less than 2 directors of the company or, if the company has only 1 director, under the hand of that director, and deliver to the auditor a notice setting out in detail, as of the last day of the period to which the audit relates, particulars of—

the names of all persons on whose behalf the conveyancer is holding trust money and the amount of the credit of each such person; and

all negotiable or bearer securities or deposit receipts in the name of the conveyancer which represent money drawn from the conveyancer's trust account and which were held by the conveyancer on that day; and

—

the names of the trust accounts in which the balance of the conveyancer's trust money is lodged and the balances on that date of those accounts; and

if the trust account balances are not in agreement with the balances of the conveyancer's ledger accounts—a statement reconciling those balances. Maximum penalty: Maximum penalty: $2 500.

The conveyancer must give the auditor making the next succeeding audit of the conveyancer's accounts and records—

at the request of the auditor, a copy of the notice, together with a signed copy of the auditor's statement of the last preceding audit of the conveyancer's accounts and records; or

if the conveyancer's accounts and records are being audited for the first time or, if for any other reason a copy of the notice cannot be produced for the purpose of the audit—before completion of the audit, a notice containing the same particulars as to money, negotiable or bearer securities and deposit receipts held on the first day of the period to which the audit relates. Maximum penalty: Maximum penalty: $2 500.