South Australian Current Regulations South Australian Current Regulations (1) Subject to
subregulation (2), a collection agent who maintains a trust account must
have the accounts and records kept under this Part audited by an auditor in
each year in respect of the period from—
(a) the
end of the agent's last audit period; or
(b) in
the case of an agent being granted a licence—the date of the grant of
the licence,
until—
(c)
2 months before the date next occurring on which the agent must lodge an
annual return; or
(d) if
the Commissioner fixes some other date at the request of the agent—the
date next occurring fixed by the Commissioner.
Maximum penalty: $2 500.
(2) If no trust money
was held in a collection agent's trust account during a particular audit
period, no audit is required under subregulation (1) in relation to that
period.