Continuing Professional Development

Prepare to work with Trust Accounting
This self-paced course will provide participants with insights and practical examples of knowledge required to work with real estate trust accounts within established agency controls.

The key topics covered in this course are:

- Legislation relevant to Victorian trust accounts in the real estate industry.
- Purpose of trust accounts in real estate.
- Regulatory requirements for the operation of trust accounts, including manual and electronic operating systems.
- Roles and responsibilities of real estate personnel for trust account activities, including referral of issues.
- Scope and limitations of a playing a limited role for trust account activities.
- Licensee-in-charge responsibilities for trust account transactions, including audits.
- Impacts on clients and agency of inaccuracies in trust account and of trust account fraud.
- Standard transactions that occur in real estate trust accounts.
- Common sources of inaccuracies in trust account transactions and the processes to address these.
- Monthly trust account processes required by Victorian legislation.

At the conclusion of this course participants should be able to:

- Explain the purpose of trust accounts in real estate
- Differentiate between trust money and general business trading money
- Identify different types of trust monies
- Have an understanding of the legislation which covers trust accounts
- Identify legal and regulatory framework for real estate trust accounts
- Understand the standard transactions made with trust accounts
- Know the roles and functions of trust accounting software packages
- Explain the purpose of internal and external audits
- Understand the scope and limitations of own role in working with real estate trust accounts

*Prices are excluding GST
Non-member price: 227.27
Member price: 136.36