South Australian Current Acts South Australian Current Acts127—Audit of trust accounts
(1) An agent who
maintains a trust account must—
(a) have
the accounts and records kept under this Division audited by an auditor in
respect of each audit period specified by regulation; and
(b)
forward to the secretary of the community corporation a statement relating to
the audit that sets out the information specified by regulation.
(2) An agent
who—
(a)
fails to have accounts and records audited as required; or
(b)
fails to forward the audit statement to the secretary of the community
corporation within the time allowed by or under the regulations,
is guilty of an offence.
Maximum penalty: $8 000.