AU
AU
In Queensland, conveyancing is strictly performed by registered solicitors--conveyancing licences are not recognised. While it is possible to establish a conveyancing business as a law firm, it must fully comply with the Legal Profession Act, including holding a current practising certificate and maintaining professional indemnity insurance.
Conveyancing licences issued in other states are not valid in Queensland. Licensed conveyancers from interstate are not permitted to operate in Queensland. Instead, Queensland solicitors typically employ support staff who assist with conveyancing matters, with all work supervised and ultimately signed off by the solicitor.
Our firm comprises auditors who are individually approved External Examiners registered with the Queensland Law Society (QLS). We provide independent trust account audits to ensure Queensland law practices comply with the Legal Profession Act 2007 (QLD) and the Legal Profession Regulation 2017.
If your law practice receives trust money, you are required to appoint an External Examiner within 14 days of receiving such funds. Notification of this appointment must be submitted to the QLS within 30 days.
The trust accounting year in Queensland runs from 1 April to 31 March. During this period, we examine trust records to ensure compliance with legal and regulatory requirements.
Following the examination, we are required to lodge the External Examiner's Report (Form 5) with the QLS. This must be completed within 60 days of the end of the trust year, i.e., by 30 May each year.
The External Examination Report and Declarations can be lodged with the Society by email to managertai@qls.com.au.
If your law practice closes or stops receiving trust money, a final examination is required. This must be conducted and lodged within 60 days of the trust account closure.
Note: If your law practice continues to hold trust money in another trust account (same entity), a final external examination report is not required within 60 days of closure. The final report can be captured during the annual lodgement period ended 31 March each year.
For comprehensive information about managing trust accounts, including opening and operating procedures, statutory deposit accounts, and compliance requirements, visit the QLS's Trust Accounting page.
Engaging a qualified and experienced trust account auditor is not just a legal requirement--it's a critical safeguard for your clients and your practice. We pride ourselves on providing thorough, timely, and compliant external examinations for Queensland solicitors.
Contact us today to arrange your trust account examination and ensure your practice remains compliant and trustworthy.