Approved Trust Account Course

Frequently Asked Questions

• How do i apply to undertake the course?

  The Approved Trust Account Course is available for purchase online through LawBooks. The course material will be emailed to you within 2 working days.

• How much does the course cost?

  Member: $360

  Non-Member: $400

  You can purchase the course through LawBooks - click here.

• Is there a time limit for completion?

  Yes. The LIV requires the assessment to be completed and returned within 28 days. Any course not returned within the required timeframe will be liable to a late fee of $55.00.

• When is the next course?

  The course is offered continuously as it is undertaken by independent study.

• What is the course format and assessment?

  The course takes the form of independent private study, followed by an open-book assessment. Upon completion, the course booklet must be returned to compliance@liv.asn.au.
  All participants must submit handwritten responses to maintain integrity in the assessment process. Typed responses will be returned uncorrected.
  All assessments are reviewed by an authorised trust account investigator and you will be notified of the outcome within 10 working days of receipt.
   

• How do i obtain a practising certificate with trust authorisation?

  Upon being assessed as meeting the required standard, the LIV will provide you with a certificate of completion. Once you have received the certificate, you can apply to vary your existing practising certificate by:

  • using your Practitioner ID to log in to LSB online
  • going to Apply/Vary Practising Certificate in the Forms field
  • selecting the Vary to Principal with Trust option
• What if my assessment does not meet the required standard?

  You will be contacted by the assessing investigator to arrange a suitable time to meet and discuss your answers. You will then have an opportunity to resubmit the assessment.

• How much time is needed to complete the course?

  The course is self-paced. Successful applicants allow 10 to 15 hours to familiarise themselves with the reading material, Uniform Law and General Rules, and complete the assessment.

• What resources do i need?

  The LIV provides course material in a booklet form, consisting of:

  • Part A: reading material
  • Part B: assessment

  You also need access to the Legal Profession Uniform Law Application Act 2014 and Legal Profession Uniform General Rules 2015.

• Can i claim the course as CPD?

  The course content covers the compulsory fields of Ethics and Professional Responsibility and Practice Management and Business Skills.
  For more information about your CPD obligations under the Legal Profession Continuing Professional Development (Solicitors) Rules 2015, go to CPD Compliance.

• Do you have to be a lawyer to complete the course?

  The course can be completed by non-lawyers and they can be issued a certificate. However, the course is designed to meet the requirements for practitioners to obtain a practising certificate with trust money authorisation. The bookkeepers course might be more suitable for non-legal associates that do not need to vary a practising certificate however, they may choose whichever course they feel would benefit them the most.