Tasmanian Consolidated Acts Tasmanian Consolidated Acts
(1) A commercial agent who is required to maintain a trust account under section 28(1) must arrange for that trust account to be audited in accordance with this section within 2 months after 30 June in each year.
Penalty:
In the case of –(a) a body corporate, 500 penalty units; and
(b) a natural person, 100 penalty units.
(2) An audit is to be carried out –
(a) by a person who is a member of any of the following:
(i) the Institute of Chartered Accountants;
(ii) the Australian Society of Certified Practising Accountants;
(iii) the National Institute of Accountants; and
(b) in accordance with any requirements the Commissioner determines relating to the matters to be covered.
(3) A person conducting an audit is to issue a certified report of the audit in an approved form.