30Audits

### 30 Audits > > (1)  A commercial agent who is required to maintain a trust account under [section 28(1)](#GS28@Gs1@EN) 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) [*\[Section 30 Subsection (2) amended by No. 20 of 2013, s. 82, Applied:20 Jun 2013\]*](/view/html/inforce/2013-06-20/act-2013-020#GS82@EN) the Institute of Public Accountants; and > > > > > > > (b) [*\[Section 30 Subsection (2) amended by No. 39 of 2010, s. 28, Applied:01 Jul 2011\]*](/view/html/inforce/2011-07-01/act-2010-039#GS28@EN) in accordance with any requirements the Director 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.