Question: 13. (a) Errors or inaccuracies can compromise the accuracy and integrity of the trust account. Outline four major causes of errors or inaccuracies that can

 13. (a) Errors or inaccuracies can compromise the accuracy and integrity

13. (a) Errors or inaccuracies can compromise the accuracy and integrity of the trust account. Outline four major causes of errors or inaccuracies that can occur in the trust account and explain how each should be addressed to correct the issue. (120 - 140 words) (b) Describe two other occurrences that can lead to the trust account being compromised. (50 - 60 words) 14. Refer to the following scenario and answer questions (a) and (b) below. Azure Beach Realty Group was established to provide a real estate service in Azure Beach and surrounding areas. Its operations include residential property management and sales, as well as a small portfolio of commercial and industrial properties. Their team of experienced property professionals have in-depth and up-to-date understanding of the local apartment/house sales and rental market. Look at the team and their roles on the Azure Beach Realty Group Staff page. (a) The following list of transactions have been extracted from the books of the Azure Beach Realty Group. Review each transaction and determine who has the scope of responsibility for each transaction then complete the table. Transaction Actions required By whom A tenant comes into the office (list three) to pays this week's rent of $400 in cash A purchaser pays 10% of (list two) $40,000 deposit for the purchase of a property via EFPOS A payment of $500 made to a (list two) tradesperson for repairs to a rental property A payment of $2,000 received (list three) in cash for a rental bond An EFPOS payment of $120 (list two) received from a tenant for water usage for the full period

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