REAL ESTATE AGENT’S TRUST ACCOUNTS AUDIT

MELBOURNE

As a Real Estate Agent you have an obligation each year to get your trust accounts audited. Without this you can not get your licences renewed through Consumer Affairs Victoria.

We have devised an Audit program that can help us Audit  important legislative issues that an estate agent’s trust accounting should comply with. Our program is guided through the Estate Agent’s act 1980 and covers important legislative frameworks and issues.

If you use a computerised accounting software, we have an Audit program to quickly identify risk areas.

We can provide a written recommendation report at the end of your compliance audit to mitigate any risks that may have been identified during the Audit of the Estate Agent’s Trust Accounts.

We can provide an on site or off site Audit solution to cater to your requirements.

Generally you are required to submit the report to Consumer Affairs before the 30th of September each year, but for some of our client’s we have also been able to do it after this date without any penalties being charged.

We have carried out many Audits in the past and are well aware about the requirements and also the risks involved.

Generally Audits comprise of Sales Trust Accounts Audit and the Rental Trust Accounts Audit and most estate agents use computerised softwares to record, trust account transactions. If this is the case, our Audits do not take longer than a day.

Essential links for the Audit are as under:

The Assurance Report:

http://www.consumer.vic.gov.au/library/forms/businesses/estate-agents/independent-assurance-report-to-the-licensed-estate-agent.pdf

The Guidelines:

http://www.consumer.vic.gov.au/library/publications/businesses/estate-agents/estate-agents-trust-accounts-a-reference-guide.pdf

The Fee:

Our Fee for a single trust account is only $400+ GST.