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Members' Trust Accounts
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APS10 requires a member who holds or receives trust money to:

  • establish and continue to maintain trust bank account/s and trust account/s and to keep trust account records secure;
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  • ensure there are adequate internal control safeguards and procedures in place; and
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  • cause the trust account/s and trust account records to be audited annually.
View the complete standard Miscellaneous Professional Statement APS 10 'Trust Accounts' in the Member's Handbook. 
 
View Guidance Note GN3 'Operation of Trust Accounts' in the Member's Handbook.  
 
For Frequently Asked Questions on Members' Trust Accounts, click here. 
 
For FAQs on the implications of the Australian Government's tax bonus payments for members' trust accounts, click here. 
 
Information on obligations stemming from the introduction of anti-terrorism regulations in 2002 can be accessed here.