Queensland Consolidated Regulations

FUNERAL BENEFIT BUSINESS REGULATION 2010 - REG 31

31 Trust account records to be kept by registered corporation

A registered corporation must—

(a) keep full and accurate accounts of—

(i) all money received by the corporation for any transaction under the Act ; and

(ii) all payments made by the corporation; and

(b) do all things necessary to enable the accounts to be audited, including—

(i) keeping any accounts and records necessary; and

(ii) maintaining those accounts in a way that ensures they can be conveniently and properly audited; and

(c) keep a separate book or register, created for the purpose, detailing—

(i) a true and accurate record of the number of trust account receipt books obtained and held by the corporation during the period for which an audit is or is to be made; and

(ii) the serial numbers of the trust account receipt forms contained in the trust account receipt books; and

(d) keep and produce for the auditor making the audit of the trust account the copy of the previous audit report given to the corporation under section 33 (1) by the previous auditor; and

(e) produce to the auditor engaged or employed by the corporation, if asked to by the auditor—

(i) all trust account books, accounts records and documents necessary to enable the auditing of the corporation’s trust account; and

(ii) all contracts, agreements or other documents about the funeral benefit business conducted by the corporation necessary to enable the auditing of the corporation’s trust account; and

(f) give the auditor any additional information the auditor reasonably requires.

Penalty—

Maximum penalty—1 penalty unit.