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  • Audits & Examinations

Audits & Examinations

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jgusew
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on ‎18-04-2018 07:10 PM

on ‎18-04-2018 07:10 PM

Audits & Examinations

Can anyone provide details of having been audited yet?

 

I would like to ascertain (relatively soon) if any non-compliance’s were identified, how they were fixed and if anybody has yet been taken off PEXA?

Category:
  • E-Conveyancing Community
  • NSW
  • Other
  • QLD
  • SA
  • VIC
  • WA
  • Tags:
  • compliance
  • examination
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jgusew
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on ‎19-04-2018 03:42 PM

on ‎19-04-2018 03:42 PM

Re: Audits & Examinations

Hey all, @LG @LawyersConveyancing @goolwaconveyancing

 

Does anyone know the answer to this or have any feedback?

 

Kind Regards, JG

 

 

 

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Clara
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on ‎19-04-2018 03:48 PM

on ‎19-04-2018 03:48 PM

Re: Audits & Examinations

I have been audited after my very first PEXA settlement.  I tried my best to respond to each of the question, emailed all the required documents, including the CAF, VOI, etc. I got a satisfactory response a day after.  

 

 

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LawyersConveyancing
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on ‎19-04-2018 03:55 PM

on ‎19-04-2018 03:55 PM

Re: Audits & Examinations

Hi @jgusew, @LG, @goolwaconveyancing et al,

The only audit we have had relating to e-conveyancing was one conducted by the Land Titles Office regarding compliance with the Client Authorisation form.

I've been waiting to see if there will be something of a melt-down if firms are actually audited for compliance, as anecdotally there are plenty of firms that are simply not complying. One of my conveyancers was aghast when told over the phone by a local lawyer that he does not complete Client Authorisations or undertake Verification of ID. When queried about this he then told of a long established conveyancing business that is not using PEXA and does not bother with Client Authorisations or VOI in anticipation of winding up if and when "things tighten up to the point that they can't operate any more".

We know that the latter is still going, because we have matters in which they are on the other side.

I have no doubt that non-compliance is the only way some conveyancing businesses are able to remain in business, as the increased workload associated with VOI and Client Authorisation is not as minor as it may seem.

Peter Mericka B.A., LL.B - Property Lawyer - Lawyers Conveyancing
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cpodosky
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on ‎19-04-2018 04:26 PM

on ‎19-04-2018 04:26 PM

Re: Audits & Examinations

The main areas of the auditing are :

  1. Client Authorisation Form (CAF) A fully completed client authorisation form. This includes full correct names of the registered proprietor , the correct transaction details selected and executed by the client and subscriber.
  2. VOI provide copies of all documents you used to verify the identity of your client as set out in the VOI Standard Table contained in Schedule 8 of the ARNECC Participation Rules or evidence of what reasonable steps were taken to verify the identity of your client must be provided.
  3. Right to Deal If your client is a party that is relinquishing their interest such as a transferor (Vendor), provide the following.
  • current local government rates notice
  • current utility bills for the property
  • a current land tax assessment notice for the property.

If your client is coming onto a title, provide the following

  • the contract of sale for the property (first 2 pages)

There will be other circumstances where the right to deal with documents stated will not be suitable therefore any evidence used to determine right to deal should be retained.

I hope this helps. 

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DMc
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on ‎23-05-2019 04:24 PM

on ‎23-05-2019 04:24 PM

Re: Audits & Examinations

I would be interested to know if there is a secure platform (perhaps via the settled workspace) provided to communicate the requested information?

Make every day count, keep smiling! Smiley Very Happy
  • Tags:
  • Notifiable Data Breach
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  • secure platform
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