Trust Account Compliance Checker
This free tool checks your trust account practices against the regulatory requirements of your state or territory law society. Answer a questionnaire about your current trust account procedures and receive a compliance assessment covering record-keeping, reconciliation frequency, reporting obligations, and common deficiencies found in trust account audits.
What this tool does
Trust account non-compliance is one of the most common findings in regulatory audits of Australian law firms, and the consequences range from reprimands to practising certificate conditions. Most deficiencies are procedural — missed reconciliations, incomplete records, or delayed transfers — not deliberate misconduct. This tool helps you catch those issues before your auditor does.
How to use it
- Select your state or territory (trust account rules differ by jurisdiction)
- Answer questions about your trust account procedures — reconciliation frequency, record-keeping, authorised signatories, and reporting
- Indicate your firm size and whether you use trust accounting software
- Review the compliance assessment with flagged gaps linked to the relevant rule or regulation
- Use the recommendations to update your procedures before your next external audit
What you'll learn
- Whether your trust account procedures meet the minimum requirements of your jurisdiction
- The most common trust account deficiencies found in regulatory audits
- How reconciliation, record-keeping, and reporting requirements differ between jurisdictions
- Specific steps to close any gaps before your next external examination
Interactive tool coming soon
The interactive Trust Account Compliance Checker is currently in development. In the meantime, start a free Quillio trial — the time savings are real and measurable on your own matters within the first week.
Start free trialTool FAQs
Which jurisdictions are covered?
All Australian states and territories — NSW, VIC, QLD, WA, SA, TAS, ACT, and NT. Each has its own trust account rules under the Legal Profession Uniform Law or equivalent state legislation.
Is my data stored?
No. Your answers are processed in your browser and are not stored, logged, or transmitted to any server after the session ends.
Does this replace a trust account audit?
No. External trust account examinations are a regulatory requirement and must be conducted by an approved auditor. This tool helps you prepare and identify gaps, but it is not an audit.
How current are the rules referenced?
Trust account rules are reviewed when amendments to the relevant legislation, regulations, or law society rules commence. The last-reviewed date is shown on the results page.
What are the most common trust account deficiencies?
The most frequently cited issues in regulatory reports are late or incomplete reconciliations, missing or incomplete trust ledger entries, failure to transfer trust money within the required timeframe, and inadequate documentation of authority to withdraw.
Does it cover controlled money accounts?
Yes. The questionnaire includes questions about controlled money accounts (investment accounts held on behalf of a single client) and their separate record-keeping and reporting requirements.
Test the savings on your own work
Quillio integrates with your practice management system to monitor trust account activity and flag reconciliation deadlines, overdue transfers, and record-keeping gaps in real time. Start the free trial to see trust compliance built into your daily workflow.
This tool provides a self-assessment against general trust account regulatory requirements. It does not constitute legal or compliance advice and cannot replace an external trust account examination by an approved auditor. Requirements vary by jurisdiction — always verify against the current rules of your law society or regulatory authority.
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The free trial is the fastest way to know whether AI saves you the hours this calculator estimates. No credit card, no sales call — sign up and measure the difference in your first week.
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