• a firm’s policies regarding trust accounts are understood and followed • documentation is presented to designated person for approval, within agreed timelines • legislative requirements regarding trust account operations are met • non-disclosable information is not communicated and where any doubt exists as to the information’s status it is not disclosed • honesty and integrity are demonstrated in all financial dealings • all work is conducted within accepted codes of conduct including those relating to: maintaining confidentiality, use of company property, duty of care, ethical behaviours, privacy, non-discriminatory practice, conflict of interests and compliance with reasonable direction • main purpose of trust accounting is understood and can be explained • procedural differences between trust and general accounting are understood • legal and financial consequences of mishandling a trust account are understood • own work and work of others is checked for accuracy and any errors, irregularities or uncertainties are amended • disbursements can be identified • entries made are accurate |