Insights

How to Prepare for a QBCC Audit

QBCC AUDITS The Queensland Building and Construction Commission (QBCC) is responsible for monitoring trust account compliance and has the authority to conduct audits of trust accounts. As a trustee, it’s not a matter of if but when you will be audited.    Here’s my advice for trustees gearing up for these audits: 1. Stay Vigilant with payments Timeliness is key. Ensure you issue necessary documents like payment schedules and supporting statements promptly, adhering to required

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Project trusts: Getting to know Queensland’s trust account framework

For building and construction businesses in Queensland there are new rules around how to manage project funds coming into play. And it may not be long before we see similar rules around the country.

 

In 2017, the Queensland State Government announced the Queensland Building Plan, which includes a range of reforms that aim to improve the quality of building projects, resolve licensing issues and increase security of funding for those projects.