Service
Solicitor Trust Account Audits
Have your law practice's annual trust account examination done by an External Examiner, for practices in Victoria, New South Wales, Queensland and South Australia.
Our work
What we handle
- External examination of trust records An independent examination of your practice's trust records against the trust accounting requirements that apply in your state.
- Trust ledgers and reconciliations We go through the client trust ledgers, reconciliations and bank statements for the whole examination period.
- Examiner's report to the regulator We prepare the External Examiner's report in the form your regulator requires. In Victoria, New South Wales and Queensland the examiner lodges it with the regulator. In South Australia the examiner gives the report to the Law Society of South Australia on or before 31 October following the financial year, if reasonably practicable, and delivers a copy to the practice.
- Findings explained We take the principal through anything we find, what it means and what to change in the practice's trust procedures.
- Controls observations Practical notes on how trust receipts, payments and reconciliations are handled, so weak spots can be fixed before the next examination.
Trust account rules, forms and lodgement steps differ between states. Where this page gives a date or a form, it names the state it applies to. For each of the four states, see Dates and rules by state below.
Dates and rules by state
Each state and territory sets its own dates. These are the states and territories we cover.
Victoria
- Examination covers
- 1 April to 31 March
- Report due
- 31 May
- Report lodged by
- The External Examiner, through LSB Online
New South Wales
- Examination covers
- 1 April to 31 March
- Report due
- 31 May (last business day in May if 31 May is a weekend or public holiday)
- Report lodged by
- The External Examiner, through the Trust Lodgement Portal
Queensland
- Examination covers
- The 12 months ending 31 March
- Report due
- 60 days after 31 March
- Report lodged by
- The External Examiner, by email or post
South Australia
- Examination covers
- 1 July to 30 June
- Report due
- 31 October, if reasonably practicable
- Report lodged by
- The External Examiner, directly to the Law Society of South Australia
Why OziDesktop
Why work with us
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We hold External Examiner status in Victoria, New South Wales, Queensland and South Australia, and we know where the trust account rules differ between them.
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At appointment we send a list of the records we need, which lets you gather most of them in one go.
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We explain each stage before it begins, so the principal knows what is coming and when.
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The work can be done remotely, so it makes no difference where in those four states your practice is.
How it works
Appointment
We confirm your state, the examination period and the records we need, and agree a timetable that works back from the lodgement date.
Examination
We examine the trust records and raise questions as we go, so you can explain or correct items before we report.
Reporting
We finalise the examiner's report, see it lodged as your state requires and talk you through the findings.
What we need from you
- Client trust ledgers for the examination period
- Trust account reconciliations and the supporting reports from your practice management or trust accounting software
- Trust account bank statements for the period
- Trust receipts, payment authorities and transfer records
- Records of any controlled money or investments held for clients
- The practice's own declarations or statements that your regulator requires
- Any other information the examiner reasonably asks for, and access to the staff who run your trust accounting
FAQs
Common questions
Does our law practice need an external examination every year?
Yes, if your practice holds a trust account or has received or held trust money during the year. In Victoria a practice that holds a trust account must appoint an External Examiner to examine its trust records annually, and in New South Wales a practice that received or held trust money during the trust year must have its trust records externally examined.
When is the external examination due?
It depends on your state. In Victoria the trust examination year runs from 1 April to 31 March, and the External Examiner must provide the end of trust year documentation to the Victorian Legal Services Board + Commissioner by 31 May each year. For New South Wales, Queensland and South Australia, see Dates and rules by state on this page.
What does our practice prepare and what does the examiner prepare?
The practice keeps its trust records and completes its own declaration, and the External Examiner examines the records and reports to the regulator. In Victoria the practice completes Parts A and B on LSB Online before the examiner submits the report; in Queensland the practice completes Form 4 and the examiner completes Form 5.
Who receives the External Examiner's report?
The report goes to the trust account regulator in your state. That is the Victorian Legal Services Board + Commissioner in Victoria, the Law Society of NSW in New South Wales, the Queensland Law Society in Queensland and the Law Society of South Australia in South Australia, where the External Examiner gives the report to the Society and a copy to the practice.
Which states can OziDesktop act in?
We act as External Examiner for law practices in Victoria, New South Wales, Queensland and South Australia. We work to the rules of the state your practice is in.
Why does the examination matter beyond ticking a box?
It is an independent check on how client money is handled. It picks up problems while they are still small, and the principal ends up with a record of how the trust account was run that year.
Need something outside this scope?
Every business is different. If you need additional accounting, bookkeeping, advisory or specialist work, we'll explain what's required and agree the scope with you before proceeding.
Talk to an accountant about your business
- Fixed fees, agreed upfront
- We contact your old accountant
- Free discovery call