Trust Account Audits

Australia’s best online trust account audit and external examination templates

MyWorkpapers is excited to introduce our new market leading trust account templates. Our highly anticipated templates enable Australian auditors and external examiners to conduct compliant trust account engagements using programs created specifically in line with state-based legislation and requirements.

MyWorkpapers Audit currently offers six trust account templates. The following legislation is applicable to the below templates for New South Wales, South Australia, Victoria and Queensland:

Queensland Legal Professionals Trust Account External Examination (Legal Profession Act 2007, Legal Profession Regulation 2007)

Queensland Agents Trust Account Audit (Agents Financial Administration Act 2014, Agents Financial Administration Regulation 2014)

New South Wales Agents Trust Account Audit (Property, Stock and Business Agents Act 2002, Property, Stock and Business Agents Regulation 2014, Property, Stock and Business Agents Amendment (Property Reports and Exemption) Regulation 2016)

Victorian Agents Trust Account Audit (Estate Agents Act 1980, Estate Agents 'General, Accounts and Audit' Regulations 2008)

South Australian Legal Professionals Trust Account External Examination (Legal Professionals Act 1981, Legal Professionals Regulations 2014)

South Australian Agents Trust Account Audit (Land Agents Act 1994, Land Agents Regulation 2010)

Coupled with MyWorkpapers Audit’s pioneering cloud-based features, including new innovations purpose-built for completing trust account engagements, you will be completing compliant and efficient assurance files for your clients. Check out the below key trust account audit features in MyWorkpapers Audit:

customise the file

Customise the File

MyWorkpapers Audit gives you the ability to customise the file and program to suit the profile of any trust account engagement. Use our Customiser to remove folders, workpapers and procedures that are not applicable to your engagement.

client communication

Client Communication

MyWorkpapers Audit allows you to do away with messy and time consuming emails and communicate directly with your client at all stages during the engagement. Create queries, send comments and exchange documentation through our Client Portal.

summary of breaches

Summary of Breaches

MyWorkpapers Audit generates a Summary of Breaches to allow the reviewer to view issues identified during the engagement. You can quickly and easily complete the assurance report and review the file.

type results into workpapers

Type Results into Workpapers

Our innovative livesheets feature enables you to enter results of testing, comments and data directly into workpapers. Livesheets offers a simple method of capturing results.

Trust account templates for the professional auditor

5 reasons to choose MyWorkpapers | Audit

improve efficiencies

Improve efficiencies

increase compliance quality

Increase compliance quality

collaborate

Collaborate with your team and clients

audit trail

Audit trail of docs & communications

simplify engagement

Simplify engagement management

What our customers say about our financial audit software

We have been using electronic audit files from MyWorkpapers Audit for over 5 years. As a result of the transition to MyWorkpapers Audit we have seen our efficiency increase and compliance with the ICAA continue to be adhered to. 

The software generates electronic lead schedules and allows users to hyperlink references direct to the accounts you create via a drag and drop function from your desktop. The MyWorkpapers Audit procedures are consistent with audit Standards and have direct paragraph references, standard audit letters are also provided which are consistent with the standards to be used if desired. A great review process is also available where queries are raised and the audit partner is able to respond where each lead schedule can be signed off with ease. Among the many great features, there are also fantastic procedures for Audit Planning ASA 315, ASA31, Setting Materiality, Considering Fraud ASA 240, Analytical Reviews, APES110 Checklist, Internal Control Questionnaire and Organisational charts etc. With MyWorkpapers Audit we have been able to increase our audit client base, while remaining consistent with IC. quality procedures and Audit standard requirements.

Harry Boghossian
Senior Accountant / Watkins Coffey Martin

As the firm’s auditing senior, MyWorkpapers Audit has been instrumental in streamlining the audit process for all our audits.

Audit has increased efficiencies, reduced paperwork and simplified audit procedures. I regard Audit as the best product on the market and I highly recommend Audit.

Lionel Madden
CA / Connole Carlisle Chartered Accountants

MyWorkpapers creates efficiencies in the managing and auditing of our SMSF clients.

The user friendly interface and ability to check sections of the audit make it a valuable tool to have in our practice. Couple that with the ability to communicate directly with the clients/administrators on the progress, review points and completion of the fund, makes this the most valuable tool we have. Why aren’t we all using it?

Matthew Williams
Managing Director / CB Audit

The MBA Partnership uses MyWorkpapers as its ability to integrate with our SMSF administration software – Class Super was second to none.

At The MBA Partnership, we are continually looking for ways to improve our processing efficiency in order to meet our client’s expectations and free up time to spend on pro-active advice. Audit helps us achieve this goal. The service we receive from the MyWorkpapers team is excellent. We continue to look forward to working with MyWorkpapers in the future.

Chrissie Hendry
Superannuation Accountant / The MBA Partnership

I was impressed by its comparative simplicity, the logical manner in which it addressed the audit approach and the audit files, and the fact that it was cloud based.

I created my first MyWorkpapers Audit file on 27 May, 2011 and so I guess I am reasonably well-qualified to speak about MyWorkpapers Audit. Prior to using MyWorkpapers Audit, I was using another computer-based system, but even after attending a two-day training session on the software, and using it for several years, I was finding it too cumbersome, time-consuming, and too expensive. On seeing an introductory demonstration of MyWorkpapers Audit, I was impressed by its comparative simplicity, the logical manner in which it addressed the audit approach and the audit files, and the fact that it was cloud based. To be fair, MyWorkpapers Audit had its “teething” problems, and as an early user I expected this, but what I must also say is HOW IMPRESSED I WAS WITH THE RESPONSE TIME TO QUESTIONS, which for an early user, using the software on-site during audits, and storing “live” via the cloud, was a blessing. It this same excellent response time that is still a distinguishing feature for me today (although, I don’t need to use it much). Also, the fact that MyWorkpapers Audit is kept up-to-date, and that it allows audit programmes and files to be added, deleted, and modified, ensures that my audit files are current and compliant. As ASIC stresses the importance of audit documentation, MyWorkpapers Audit evidences the work done via completed, stored programmes and files. The software also serves as a very important and consistent supervision, review and completion tool for me.  And the relatively low cost represents excellent value. I have no hesitation in saying “Go MyWorkpapers Audit!”.

Mark Lennon
Principal / Business Partner Accountants

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- Introducing Year-End SMSF
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