We have now developed a template based on the SEA 3100 Compliance standard specifically for the Audit of PTE Trust Accounts in terms of NZQA Student Fee Protection Rules 2013 made under section 253 of the Education Act 1989.
This has specific checklists for the different kinds of Trust Deeds: NZQA Standard Trust Deed, NZQA Static Trust Deed and NZQA Bank Bond Trust Deed. Tests are designed around compliance with the rules and the requirements of the Deeds. There are also internal controls checklists that address the specific requirements of the rules.
We are putting this out for beta testing at present - meaning that we would like a few firms to try it out and give us feedback so we can fine-tune if necessary. To access go to the "Compliance" tab and create a job as follows:
To send us feedback email us from this link.