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Failure to supply audits of trust accounts to Consumer Affairs Victoria for several years has left two conveyancers facing yet-to-be-determined penalties from the industry watchdog.
Consumer Affairs Victoria has taken action against several conveyancers for allegedly failing to comply with trust account audit obligations.
Murray Grills, lead conveyancer at Murrsan Pty Ltd, trading under the name Regional Conveyancing, could face suspension and penalties for failing to have trust accounts audited over a five-year period between 2020 and 2024.
Similarly, South Yarra conveyancer John Sierakowski could also face the same punishment for failing to have his trust accounts audited for the four-year period between 2020 and 2023.
The pair could also face conditions being placed on their licences as part of the industry watchdog’s investigation.
Under the Conveyancers Act 2006, conveyancers are required to have their trust accounts audited annually by an approved auditor, with the reports lodged with Consumer Affairs Victoria.
Consumer Affairs Victoria director Nicole Rich said trust account auditing was not just a minor administrative task but a key consumer protection.
“Trust account auditing ensures that client money is being handled safely and securely.”
“We are continuing to monitor and make sure conveyancers and estate agents are lodging their trust account audit reports each year.”
“While we give conveyancers and estate agents warnings and reasonable opportunities to rectify missed lodgments, we’ve made it clear you will face further action if breaches persist,” Rich concluded.
ABOUT THE AUTHOR
Mathew Williams
Born in the rural town of Griffith NSW, Mathew Williams is a graduate journalist who has always had a passion for storytelling. Having graduated from the University of Canberra with a Bachelor of Sports Media in 2023, Mathew recently made the move to Sydney from Canberra to pursue a career in journalism and has joined the Momentum Media team, writing for their real estate brands. Outside of journalism, Mathew is an avid fan of all things sports and regularly attends sporting events across Sydney. Get in touch at
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