Unit of competency Outline

Date retreived
22/07/2026 9:16 PM AWST

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Maintain trust accounts

Maintain trust accounts

Unit of competency
National Code
BSBLEG403
State Code
AUI73
TGA Status
Replaced
DTWD Status
Replaced
Current Release Number
1.00
Current Release Date
25/03/2015
View on TGA
State Implementation and Classification
Approved Date
15/09/2015
Field of Education
081105 - Investment And Securities
Original Release Date
15/09/2015
Nominal Hours
50
Description
This unit describes the skills and knowledge required to maintain trust monies related to specific files, under instruction of a legal practitioner.It applies to individuals who work under supervision and use well-developed skills and a broad knowledge base to provide support in a range of legal service settings. They apply solutions to a range of unpredictable problems, and analyse and evaluate information from a variety of sources.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Check that trust funds are adequate
  • 1.1 Check relevant sources for information regarding disbursements and costs
  • 1.2 Calculate and reconcile estimated disbursements and costs with available trust funds
  • 1.3 Notify instructing legal practitioner where there are inadequate available funds
  • 1.4 Notify client that further funds are required, where necessary, according to organisation’s policies and procedures
2. Draw cheques against trust account
  • 2.1 Complete appropriate requisition form
  • 2.2 Gain authorisation from instructing legal practitioner according to organisation’s policies and procedures
  • 2.3 Inspect cheques for accuracy and correct account source
  • 2.4 Organise instructing legal practitioner to verify and sign cheques
  • 2.5 Keep accurate records of all file-related disbursements and costs
3. Prepare documentation upon completion of legal matter
  • 3.1 Collate relevant information and documentation from file
  • 3.2 Reconcile monies remaining in trust account
  • 3.3 Promptly investigate discrepancies or irregularities and take appropriate follow-up action
No information
No information
Replaces
State Code National Code Title Type
WB900 BSBLEG403B Maintain trust accounts Unit of competency
Replaced By
State Code National Code Title Type
OCF43 BSBLEG422 Maintain a file in a legal services environment Unit of competency
State Code National Code Title Type
AVR9 BSB42215 Certificate IV in Legal Services Qualification