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Thread: Trusts and the Master when changing accountant

  1. #1
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    Trusts and the Master when changing accountant

    Good day,

    When the accountant changes for a trust, does the master need to be informed?
    If so, how does one do that without having to use a legal firm in order to save costs?

    Thanks

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    New Member Hugh Goble's Avatar
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    Hi Roger
    Yes the Master has to be informed about the change in Auditor.

    There is a form JM21 available for download from http://www.justice.gov.za/master/trust.html that explains what is required from both the outgoing and incoming Auditors (all at no cost).

    Cheers
    Hugh

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    Hi Hugh,
    Thanks. I do want question though, is it not the change in internal accountant IE the bookkeeper that the master must be informed of and not the independant third party reviewer(IE auditor)
    What happens if the Trust Deed specifically states that no audit is required? Does one still need to keep the Master happy if you say are the independant compiler?
    Thanks

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    New Member Hugh Goble's Avatar
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    Hi Roger
    It only applies to an External Auditor where the Trust Deed requires such a person. No requirements of notification for change of bookkeeper for non-audited Trusts.

  5. Thanks given for this post:

    Roger15 (25-Jun-13)

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