Residual balance—annual review
Residual balance—annual review

The following Practice Compliance precedent provides comprehensive and up to date legal information covering:

  • Residual balance—annual review

A: General information

Date of annual review[insert date]
Person conducting annual review[insert name and position, eg COFA]

B: Review and findings

Is your residual balance register up-to-date?☐ Yes
☐ No
(If no, ensure you set an action point at section C below to update the register)
For each residual balance you have held over the past 12 months, have you:
—made reasonable attempts to establish the rightful owner of the money?
—taken reasonable steps to return the money to the rightful owner?
—recorded the steps taken to return the money to the rightful owner and retained those records?
—retained information and all relevant documentation, including receipts from any c

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